Updated May 20, 2023

Square Rates and Fees

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Square offers a free credit card reader. But there are transaction rates and processing fees you need to be aware of.

Square's pricing depends on the hardware and the method used to capture the credit card information.

Over-the-phone credit card transactions cost more than in-person swipe, tapped, or dipped transactions. Square magstripe and chip reader transactions cost more than Square Terminal or Register transactions.

Keep reading to learn how Square's rates work.

Square Flat-Rate Pricing

Square charges 2.6% + $0.10 for the following in-person transactions:

  • Swiped
  • Chip
  • Contactless payments
  • Prepaid gift cards
  • Virtual Terminal swiped or chip payments

The platform charges that same rate for every credit card brand—Visa, Mastercard, American Express, or Discover credit cards. This is rare among credit card processors, since many charge more for AMEX and Discover.

Square Manual Credit Card Transaction Pricing

Any keyed-in, card-not-present, or card on file transactions have a transaction fee of 3.5% plus $0.15. These higher processing fees are for added security, since keyed-in transactions have a higher likelihood of fraud.

It includes the following:

  • Over-the-phone transactions
  • Keyed-in transactions via POS
  • Keyed-in transactions via virtual terminal

How do you pay Square fees?
Unlike other credit card processors, Square fees are paid "as you go." The platform deducts the cost of processing each transaction right from the sale and before they deposit the funds in your account.

Square doesn't offer the option to charge the fees monthly, though total monthly fees can be viewed in the Square Dashboard.

Square Register and Terminal Credit Card Pricing

In-person transactions with the Square Register or Square Terminal are 2.6% plus $0.10.

Square's countertop terminal collects payments and prints receipts. The Register is an all-in-one POS and payment terminal. Each device comes with Square's 24/7 fraud protection and phone support.

Square E-Commerce Pricing

While many people use Square for in-person transactions, Square also offers e-commerce payment processing. Fees for e-commerce payments are 2.9% plus $0.30.

Setting up an e-commerce store with Square is fairly simple, though it comes with plenty of options for customization and no setup fee.

Square Invoicing Pricing
Square's POS system includes recurring invoicing, making it easy to receive payments in a timely manner.

  • Payment via credit card
    2.9% plus $0.30

  • Payment via check or cash
    No fees

If your customer pays via check or cash, you can still record the payment in your Square POS system.

Square Hardware Fees

Square offers a variety of hardware options to help businesses of all sizes and needs operate efficiently. The prices are as follows:

  • Magstripe Reader
    First reader is free, additional readers cost $10

  • Contact and Chip Reader

  • Contactless and Chip Stand Reader
    $199 or $18/month (does not include iPad)

  • Square Terminal
    $299 or $27/month

  • Square Register
    $799 or $39/month

Other Square POS Pricing

Square offers a few other POS systems for specific industries, each of which has its own pricing. All fees are per transaction:

  • Square Appointments
    2.6% plus $0.10 for individuals; 2.5% plus $0.10 for 2–10 employees

  • Square for Restaurants
    2.6% plus $0.10 for swipe, chip, or tapped payment

  • Square for Retail
    2.5% plus $0.10 for swipe, chip, or tapped payment; 3.5% plus $0.15 for keyed-in payment

How do you accept cash payments with Square?
You can record cash payments in your Square POS at no charge. While you will handle the transactions and deposits yourself, the Square POS app tracks all payments received and serves as an organizational tool to keep your bookkeeping on track.

Are There Hidden Fees?

While Square's pricing got a little more complex since it started, the platform still has no hidden fees. The pay-as-you-go pricing means you can cancel at any time and only pay for transactions that you process.

Square does not charge:

  • Setup fees
  • POS fees
  • Chargeback or refund fees
  • Inactivity fees
  • PCI compliance fees

All businesses are charged according to the same pricing model, including nonprofit charities.

Additional Square Features and Fees

In addition to its standard mobile credit card readers and terminals, Square offers specialized versions of its hardware/software:

Square for Retail
$60/month for the first register
Manage inventory, purchase orders, employees, and vendors with this brick-and-mortar store POS system. There is no limit on the number of employees you can manage and all inventory seamlessly integrates from all channels.

Square for Restaurant
$60/month for the first register
Manage menus, table layouts, employees, and inventory all in one POS system. Each additional POS system costs $40/month.

Square Appointments
$50/month for 2–5 employees; $90/month for 6–10 employees
Manage appointments in the iOS app and accept payments for services and retail items. The POS is free for individuals but has a monthly fee for businesses with employees.

Square Payroll
$35/month plus $5/month per person paid
Manage your employees' payroll and benefits all from one location. Set up direct deposit, manage tax paperwork, and keep track of sick and vacation time both for salary and hourly employees.

Square Marketing
Learn more about your customers with marketing emails and surveys. Track customers' purchases and re-target them with specific deals or recommendations. Set up automatic campaigns and watch the progress of your efforts in the Square Dashboard.

Square Loyalty
Give your customers a reason to come back with the Square Loyalty program. Customize the rewards and how customers earn them. Keep track of the sales and loyalty rewards to increase customer retention.

Bottom Line

Square's transparency, lack of hidden fees, and clear pricing are perfect for businesses looking for an all-in-one payment processing provider.

Most new companies stick with Square's credit card processing services and free POS. But consider your business' needs when choosing the best Square hardware and services for you.

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