Square was founded by one of Twitter’s co-founders, Jack Dorsey. It allows small company owners and vendors to take their business to markets, states, or nations where they may accept mobile payments, regardless of where they are on any given day. Basically, Square is a Point Of Sale system (POS) that allows small company owners to take credit card payments in novel ways instead of the old method of receiving payments via little devices that most of us have never heard of. Square is a registered software that enables small business owners to take payments on the move, whether their establishments are retail or food-based. Vendors can now accept NFC payments with their latest features. Square also offers a product called Square Stand, a stand with the Square logo on it that sellers may place in their stores to make it easier for consumers to sell through Square. All credit cards – Visa, Mastercard, Discover, and American Express – have the same fees, and deposits are available the next day.
Top 12 Square Alternatives
Square is undoubtedly the most popular system. Is it, however, the most excellent option for your business? Many retailers and enterprises favor Square because of its pay-as-you-go pricing and lack of monthly fees.
However, it is not suitable for everyone. As a payment aggregator, you run the danger of having cash blocked and accounts canceled without warning. In addition, flat-rate pricing may not be possible for all types of businesses.
PayPal’s per-swipe rates for mobile credit card processing (through PayPal Zettle) are cheaper than Square’s. In addition, QR code transactions (above $10) are even eligible for a discount. As a result, it’s ideal for small businesses that accept credit cards in person.
Furthermore, taking PayPal and Venmo payments may increase your consumer base. It’s a simple method to keep track of your mobile, online and in-person payments. Once you’ve identified yourself as a seller, you’ll have immediate access to the monies in your PayPal account.
Stripe is a collection of web-based point-of-sale (POS) systems that work with current websites and apps. Stripe Terminal is a flexible POS terminal solution perfect for businesses that desire complete control over their customers’ purchase process, but it requires web development expertise to make it work.
Stripe has pre-built interfaces with almost any backend system you could think of, from website builders to customer relationship management (CRM) to inventory and sales management.
Stripe charges the same price as Square for online payments, but their POS fee for in-person card purchases is 2.7 percent + $0.05 for each transaction. This might be beneficial if you process a lot of small payments.
Stripe is a good option if you want more functionality, better support, and an affordable price.
Toast POS is a point-of-sale restaurant system that includes managing digital orders, front-of-house, and back-of-house chores, sales tracking, and customer engagement. Toast’s sales reports, for example, break down sales per item to help with purchasing and price decisions. To inform staffing and performance management, they also break down sales by employee.
Toast’s POS software costs $75 per month for a single register. Payment processing costs are established on a case-by-case basis but typically vary from 2.5 percent to $0.15 per transaction. In addition, specific features and hardware are subject to extra charges.
Toast comes with several essential features for food service, outstanding support, and user-friendly software. Toast should be on your shortlist of POS software options if you own a restaurant.
Clover Go is a simplified version of Clover’s comprehensive POS system. While it allows you to accept payments on the move, it lacks full-fledged POS functionality. Although Clover Go is a mobile card reader, many believe that it has all of the features of many comprehensive POS systems.
Retailers and restaurateurs will benefit from Lightspeed POS’s two solutions. Lightspeed isn’t the cheapest choice, but it comes with a lot of features for the money.
Lightspeed POS allows you to import merchandise straight from vendor catalogs or through spreadsheets. To keep inventory under check, you may sort, categorize, and monitor things, as well as automate refilling. Advanced purchase order management functions are also included in Lightspeed.
SumUp has an excellent card reader, but it’s not a complete point-of-sale system. For a cheaper price than Square, merchants may accept credit card payments—but only if they have access to the internet. SumUp is a good alternative if you don’t need inventory management, scheduling, or detailed reporting.
SumUp pays merchants on a daily basis, although the actual transfer may take 2 to 3 business days, depending on your bank’s restrictions.
Another competing option for retail and foodservice enterprises is Shopkeep, a Square counterpart. ShopKeep is simple to use right out of the box, with a single dashboard for sales, customer, and inventory management.
ShopKeep offers 24/7 assistance by email, SMS, live chat, and a knowledge base for all of its plans. In addition, ShopKeep provides a lot to offer small businesses and eateries.
Payment Depot is a merchant account service that operates on a subscription basis. You pay a monthly membership fee and only spend a small flat-rate mark-up on each transaction in exchange.
It accepts cash, checks, and credit cards in person, online, and by phone. A free mobile reader is included in many of their price options.
The platform includes a specialized merchant account from First Data, reducing the risk of blocked payments or terminated accounts. On the other hand, the underwriting procedure is a little more stringent.
Shopify POS is a prominent e-commerce and payment processing rival, and the company’s POS technology is impressive. If you currently use Shopify online, adding Shopify POS to your sales system is simple.
Shopify offers a single interface with extensive sales, inventory, customer, and personnel management features and financial statistics. Advanced reporting on everything from best and worst deals to inventory turnover percentage is included in this package.
Payline Data isn’t a payment aggregator like Square. However, even though they do not process the transactions themselves, they supply individual merchant accounts. This reduces the chances of your cash being frozen or your accounts being closed.
Revel POS is an iOS-based point-of-sale system for restaurants specifically tailored to coffee and pizza establishments. There is also a comprehensive retail solution.
Revel contains functionality for both front-of-the-house and back-of-the-house operations, such as order management and sales analysis. It is an essential and easy-to-use POS interface with a primary dashboard that includes customer management, time clock, reporting, and inventory.
Payanywhere, like Square, has a robust point-of-sale system. On the other hand, the mobile processing costs are slightly cheaper, making it an excellent choice for individuals who solely handle mobile payments.
Payanywhere provides a free mobile card reader (additional readers are $29.95 each). For $49.95, you may upgrade to a reader that takes contactless payments like Apple Pay and Samsung Pay.
Your point-of-sale system is the nerve core of your company. With so many possibilities, undertaking your investigation while doing your due diligence before choosing a system is critical. Talk to a professional, have a test drive, and carefully consider the financing options before making a purchase, and your POS should serve you well as you manage and build your business.