In online retail, choosing the right payment processor is essential for boosting sales and improving customer experience. Square is well-known for its point-of-sale systems and online payment solutions, but it might not suit every e-commerce business. This article explores 9 excellent Square alternatives, focusing on their e-commerce features to help you find the best option for your store.
What is Square?
Square, founded in 2009 by Jack Dorsey and Jim McKelvey in San Francisco, provides an integrated system of hardware and software for both in-person and online sales. Its intuitive interface and clear pricing appeal to many small and medium-sized businesses.
Key Features of Square:
- Free Online Store Builder: Allows businesses to create an online storefront integrated with Square payments.
- Unified Inventory Management: Syncs inventory across in-person and online sales channels in real-time.
- Multiple Payment Methods: Accepts all major credit cards, Apple Pay, Google Pay, and other digital wallets.
- Transparent Pricing: No monthly fees for basic services; pay only when you process a transaction.
- Integrated POS Systems: Combines online and offline sales data for comprehensive business insights.
While Square offers a robust solution for many, some e-commerce businesses might seek alternatives due to specific needs like lower transaction fees, advanced customization, international payment support, or specialized features.
Overview of Square Alternatives
Below is a summary of Square and its 9 e-commerce-focused alternatives, highlighting key features, pricing, and ideal users.
Top 9 Square Alternatives for E-commerce Businesses
Exploring Square alternatives can enhance your e-commerce business with flexible payment options and improved integration. Here are 9 top alternatives, each offering unique features to optimize your online sales strategy.
1. Stripe
Stripe is a leading payment processing platform known for its developer-centric approach, offering extensive customization and scalability for online businesses.
Key Features:
- Customizable Checkout: Provides tools like Stripe Elements and Checkout for a branded payment experience.
- Global Payment Support: Accepts payments in over 135 currencies and supports various payment methods, including cards and digital wallets.
- Subscription Management: Ideal for businesses offering recurring billing or subscription services.
- Advanced Fraud Protection: Employs machine learning with Stripe Radar to detect and prevent fraud.
- Robust API: Enables seamless integration with e-commerce platforms and custom websites.
Pricing:
Stripe charges a standard rate of 2.9% plus $0.30 per successful card charge. There are no setup or monthly fees; you pay only when you process a transaction. Additional fees may apply for international cards and currency conversion, and customized pricing is available for large-volume businesses.
Ideal For: Online businesses seeking a highly customizable and scalable payment solution with advanced developer tools.
2. Shopify Payments
For businesses using Shopify, Shopify Payments offers an integrated payment processing solution that simplifies operations by eliminating the need for third-party gateways.
Key Features:
- Seamless Integration: Built directly into the Shopify platform for effortless setup.
- No Additional Transaction Fees: Shopify waives transaction fees when using Shopify Payments.
- Multi-Currency Support: Sell in multiple currencies with automatic exchange rate updates.
- Accelerated Checkout: Features like Shop Pay speed up the checkout process.
- Chargeback Management: Provides support for handling disputes efficiently.
Pricing:
Transaction fees vary based on the Shopify plan you choose. The Basic Shopify plan charges 2.9% plus $0.30 per online transaction, the Shopify plan charges 2.6% plus $0.30, and the Advanced Shopify plan charges 2.4% plus $0.30 per transaction. There are no additional transaction fees beyond your monthly Shopify subscription fee, which starts at $29 per month for the Basic plan.
Ideal For: E-commerce businesses operating on Shopify seeking a fully integrated payment solution with competitive rates.
3. Authorize.Net
Authorize.Net, a Visa solution, provides a secure payment gateway with advanced features tailored for online merchants.
Key Features:
- Robust Security: Offers advanced fraud detection tools and secure customer data storage.
- Recurring Billing: Supports subscription services with automated billing.
- Extensive Integrations: Compatible with a wide range of shopping carts and e-commerce platforms.
- Customer Information Manager: Safely stores payment details for quick repeat purchases.
- Dedicated Support: Provides 24/7 customer assistance via phone, email, and live chat.
Pricing:
Authorize.Net offers two main pricing options. The All-in-One option includes both a merchant account and payment gateway, charging a monthly gateway fee of $25 plus 2.9% and $0.30 per transaction. The Payment Gateway Only option is for merchants who already have a merchant account; it charges a $25 monthly fee, $0.10 per transaction, and a daily batch fee of $0.10.
Ideal For: Established online businesses requiring a secure and feature-rich payment gateway with dedicated support.
4. Braintree
Owned by PayPal, Braintree offers a full-stack payments platform, supporting various payment methods and providing a seamless checkout experience.
Key Features:
- Diverse Payment Options: Accepts credit/debit cards, PayPal, Venmo (U.S.), and digital wallets.
- Global Reach: Processes transactions in over 130 currencies.
- Customizable Checkout: Offers drop-in UI and custom integration options.
- Recurring Billing: Simplifies management of subscriptions and recurring payments.
- Fraud Protection: Includes basic fraud tools with options for advanced security measures.
Pricing:
Braintree charges 2.9% plus $0.30 per transaction for standard credit and debit card transactions. There are no monthly fees, minimums, or hidden charges. Volume pricing is available for businesses with large transaction volumes, and additional fees may apply for certain payment methods or services.
Ideal For: E-commerce businesses seeking flexibility with multiple payment methods and a customizable checkout process.
5. 2Checkout (Verifone)
2Checkout enables businesses to accept payments globally, offering localized buying experiences to customers around the world.
Key Features:
- International Payment Processing: Supports over 200 countries and territories.
- Localized Checkout: Provides localized language and currency options.
- Subscription Management: Offers robust tools for recurring billing.
- E-commerce Integrations: Compatible with over 120 shopping carts and platforms.
- Fraud Protection: Implements advanced security protocols to safeguard transactions.
Pricing:
2Checkout offers different pricing plans based on your business needs. The 2Sell plan charges 3.5% plus $0.35 per successful sale, suitable for physical and digital goods. The 2Subscribe plan is designed for subscription-based businesses and charges 4.5% plus $0.45 per transaction. The 2Monetize plan, for comprehensive digital commerce needs, charges 6.0% plus $0.60 per transaction. There are no setup or monthly fees.
Ideal For: Online businesses expanding internationally and needing a payment processor with extensive global capabilities.
6. Adyen
Adyen offers a unified commerce platform, enabling businesses to accept payments across online, mobile, and in-store channels globally.
Key Features:
- Global Payment Acceptance: Supports over 250 payment methods and 150 currencies.
- Advanced Risk Management: Uses real-time data and machine learning to prevent fraud.
- Scalability: Designed to handle high transaction volumes efficiently.
- Comprehensive Reporting: Provides detailed insights into payment data and customer behavior.
- Customizable Solutions: Offers APIs for tailored integrations.
Pricing:
Adyen operates on an interchange-plus pricing model. For Visa and Mastercard transactions, you pay interchange fees plus a processing fee and a fixed transaction fee, typically $0.12 per transaction. There are no setup fees or monthly fees, but a minimum monthly invoice amount may apply. Fees vary based on the payment method and country.
Ideal For: Large e-commerce enterprises requiring a scalable and globally unified payment solution.
7. Payoneer
Payoneer facilitates cross-border payments, making it easier for businesses to transact globally and access funds in multiple currencies.
Key Features:
- Global Network: Operates in over 200 countries with support for multiple currencies.
- Marketplace Integration: Partners with platforms like Amazon, eBay, and Walmart.
- Multi-Currency Accounts: Hold and manage funds in various currencies.
- Mass Payouts: Enables sending payments to multiple recipients simultaneously.
- Competitive Fees: Offers cost-effective solutions for international transactions.
Pricing:
Receiving payments from other Payoneer customers is free. For payments received from marketplaces or clients via the billing service, fees vary: credit card payments are charged at 3%, and eCheck (ACH bank debit) payments at 1%. Withdrawing funds to your local bank account incurs a fee of up to 2% above the mid-market rate. There are no monthly or setup fees.
Ideal For: E-commerce businesses and freelancers dealing with international clients and marketplaces.
8. BigCommerce Payments
BigCommerce Payments integrates seamlessly with the BigCommerce platform, providing a unified payment solution for online stores.
Key Features:
- Integrated Platform: Simplifies setup with no need for third-party payment gateways.
- Multiple Payment Methods: Supports credit/debit cards, digital wallets, and alternative payment options.
- Transparent Pricing: Competitive rates with no additional transaction fees.
- Security Compliance: PCI DSS Level 1 certified for secure transactions.
- Advanced Analytics: Offers insights into sales and customer behavior.
Pricing:
BigCommerce Payments uses various payment providers, such as PayPal powered by Braintree, with rates starting at 2.9% plus $0.30 per transaction for the Standard plan. BigCommerce's platform fees start at $29.95 per month for the Standard plan, with higher-tier plans offering additional features at increased monthly costs.
Ideal For: Businesses using BigCommerce seeking a streamlined and integrated payment solution.
9. Skrill
Skrill is a digital wallet provider that supports global payments, making it suitable for e-commerce businesses with international customers.
Key Features:
- Global Coverage: Operates in over 120 countries with support for multiple currencies.
- Quick Checkout Process: Simplifies payments for customers, potentially increasing conversions.
- Multiple Payment Options: Accepts cards, bank transfers, and local payment methods.
- Cryptocurrency Support: Allows businesses to accept payments in cryptocurrencies.
- Fraud Management: Provides tools to detect and prevent fraudulent transactions.
Pricing:
Skrill's merchant fees typically start at 2.90% plus €0.29 per transaction. There are no setup fees, but additional charges may apply for currency conversion (3.99%) and other services. Withdrawal fees and other transaction-specific fees may also apply depending on your account setup and transaction types.
Ideal For: E-commerce businesses targeting international markets and seeking a digital wallet solution with diverse payment options.
Frequently Asked Questions
Here we have answered some of the most asked questions about Square alternatives:
Why might an e-commerce business look for alternatives to Square?
While Square offers a comprehensive solution, businesses may seek alternatives due to specific needs such as lower transaction fees, advanced customization, international payment support, or specialized features not available with Square. Exploring alternatives ensures you find a payment processor that aligns closely with your business requirements.
How do transaction fees impact my online store?
Transaction fees can significantly affect your profit margins, especially for businesses with high sales volumes or low-margin products. It's important to compare the fee structures of different payment processors, including any hidden fees, to understand the overall cost and impact on your bottom line.
Can I integrate multiple payment processors on my e-commerce website?
Yes, most e-commerce platforms allow you to offer multiple payment options at checkout. This can enhance customer satisfaction by providing various payment methods, catering to different preferences, and potentially increasing conversion rates.
What should I consider regarding security and fraud prevention?
Security is crucial in payment processing to protect your business and customers. Look for processors that offer advanced fraud detection tools, PCI DSS compliance, encryption, and secure data storage. Ensuring robust security measures helps build customer trust and safeguards your business.
How important is global payment support for my e-commerce business?
If you plan to sell internationally, supporting global payment methods and multiple currencies is essential. It allows international customers to pay using their preferred methods, reduces friction at checkout, and can
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