Square Rates and Fees

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 Reader: Free Mobile Credit Card Reader

• Pay 2.6% + 10¢ Per Swipe for Visa, Mastercard, Discover, and American Express
• Accept Credit Cards Anywhere
• Fast Setup, No Commitments

Click Here to Get Free Reader

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

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 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
  $59

• Square Stand for Contactless & Chip
  $149 or $14/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

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
$0-$89/mo per location (Custom pricing available)
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
$0-$165/mo per location (Custom pricing available)
Manage menus, table layouts, employees, and inventory all in one POS system. Each additional POS system costs $50/month.

Square Appointments
$0-$69/mo per location
Manage appointments in the iOS app and accept payments for services and retail items. The basic plan is free for a single location.

Square Payroll
$35/month plus $6/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 Email Marketing
$15-$40/month
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
$45–$105/month
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.