Square Review

Rates and Fees
Truth in Advertising
Consumer Reviews
Customer Support

Best for

Small businesses

Specializes in

eCommerce, restaurant, retail, mobile businesses

Pricing Summary

Setup Fee: $0

Monthly Fee: $0

Swipe Rate: 2.6% + 10¢

Keyed-in Rate: 3.5% + 15¢

Early Termination Fee : $0

Contract Terms:

Visit Square

San Francisco, CA based merchant services provider that offers solutions for merchants in the US and Canada.

Square Overview


Square was cofounded in 2009 by Twitter CEO, Jack Dorsey. They have offices around the world including the US, Canada, Japan, Australia, UK, and Ireland.  Square is a merchant services and small business services provider that offers predictable pricing at a reasonable price. 

Square has its own name brand hardware options. Their software, aimed to be intuitive and user friendly, is also compatible with most phone, tablet, and computer technologies - no training necessary.  They also boast complete eCommerce solutions for merchants from website creation to accepting payments.

Let us note that there are extensive complaints about this company for various reasons.  There are some good reviews sprinkled in, but these complaints do not seem to be isolated issues. Freezes and account shutdowns have been reported in reviews written by merchants.  Reasoning for these instances vary but may be occurring in part due to rapid growth within businesses that can appear to look like fraudulent activity.

Quick Facts

Head Quarters

San Francisco, CA

Year Founded



Jack Dorsey



Merchant Provider Risk Tolerance

What We Like

No monthly fee.

No early termination fee.

No setup fee.

Month to month contract.

Predictable flat rate pricing.

What We Don't Like

Only provides services to United States and Canadian merchants.

Customer accounts have stability issues.

It is difficult to reach an actual customer service person.

Merchants in the CBD industry have issues opening and maintaining accounts.

Account freezes and shutdowns occur without advance warning to the merchant.

Industries Served

  • Accounting & Tax Prep
  • Airlines
  • Bail Bonds
  • Cigars & Tobacco
  • Clothing & Apparel
  • Convenience Store
  • Dating
  • E-Cigarettes / Vape
  • Education
  • Educational Seminars
  • Electronics
  • Gaming
  • Gas Station
  • Healthcare
  • Hunting & Outdoor Equipment
  • Marketing Agency
  • Medical
  • Moving Companies
  • Personal Service
  • Pharmaceutical
  • Property Management
  • Restaurant / Bar
  • SEO & SEM Services
  • Smoking Accessories
  • Telemedicine
  • Thrift Store
  • Web Design Services

Business Types Served

  • B2B
  • Digital Downloads
  • Discount Buying Club
  • Document Preparation
  • Ecommerce
  • Enterprise Merchant Accounts
  • High Volume
  • Information
  • Low Risk
  • Mobile
  • Mom & Pop
  • MOTO
  • Non Profit
  • Online
  • Retail / Card Present
  • Small Business
  • Subscription / Continuity
  • Tech Support

Square Products & Services


Square has payment solutions for all card types as well as gift cards. This company caters specifically to business environments that process payments in-person, on a website, via invoicing, or by virtual terminal.

Square offers merchants their own name brand equipment. Hardware can be bought/financed or rented. Equipment solutions are available for all types of businesses and come in the following forms: magstripe readers, contactless/chip readers, countertop terminal, registers, and other accessories. Upon boarding an account with Square, their merchants enjoy 1 free magstripe reader and free access to the Square Point of Sale App.

Square POS software is customizable and intuitive, there is no training required. The software has solutions for diverse business environments including retail, restaurants, and appointment based. Inventory management, invoicing, recurring payments, team management, customer relationship management, reporting & analytics, and loyalty programs are some of the features the software boasts.  Some of these do come at an extra cost (see Pricing & Fees section). Several businesses will like the QuickBooks integrations and restaurant merchants will like the Postmates and DoorDash integrations.  Additionally, the Square Cash App allows for merchants to accept bitcoin.

Solutions for eCommerce exist in the form of virtual terminals, developer APIs, shopping cart integrations, and website creation/hosting. Their websites will allow merchants to sell on Instagram, Facebook, and other social sites. They also have a Square Photo Studio that offers professionally shot photographs of merchandise for eCommerce merchants.

They have an active fraud prevention program along with dispute management for chargebacks and data-security compliance coverage (PCI).


Outside of payment processing, Square also offers the following in-house tools to their merchants:

-Employee and contractor payroll services

-Small business loans ($300-$100,000)

-Business debit card


-Loyalty programs for customers

-Team management

Square Payment Processing

  • Bitcoin Processing Compatible
  • Cash Transactions
  • Chargeback & Fraud Prevention
  • Check Services
  • Contactless NFC
  • Credit Card Processing
  • Credit Card Terminals
  • Customized Application Guidance
  • Debit Card Processing
  • eCheck & ACH Processing
  • EMV Processing
  • Gift & Loyalty Program
  • Gift Card Management
  • Merchant Cash Advance
  • Mobile Card Reader
  • Mobile Commerce
  • Mobile Payments App
  • Online Payments
  • Online Shopping Cart Integration
  • Payment Gateway
  • Payment Processing Services Integration
  • POS Equipment
  • Receipt Printing
  • Recurring Billing
  • Retail Payment Processing
  • Shopping Cart Integration
  • Shopping Cart Provided
  • Signature Capture
  • Virtual Terminal

Square Billing & Invoicing

  • Billing Portal
  • Contact Database
  • Customizable Invoices
  • Hourly Billing
  • Mobile Payments
  • Multi-Currency
  • Online Invoicing
  • Online Payments
  • Payment Processing
  • Project Billing
  • Recurring/Subscription Billing
  • Tax Calculator

Square Advertising & Sales

Square advertises a hefty amount of their pricing on their website, which is not typical for the merchant services industry. The company’s website is very detailed and informative regarding the services they provide and their pricing. We cannot find many reviews complaining about deceptive advertising when referencing rates and fees specifically, but we did find issues when looking at other aspects of the business.

Square uses in-house sales teams to board their accounts. There are some reviews of CBD businesses that claim their applications were either shelved (never approved or denied) or closed down without explanation after approval.  With this being said, even though the sales team tells merchants in the CBD industry that they can provide merchant accounts for them, maybe these merchants should look elsewhere. This may be part of a larger issue with the in-house sales team trying to attain accounts at the expense of inconveniencing merchants, leaving their businesses temporarily shut down until they find another provider. Additionally there are other reviews about funds being held/frozen for months. It appears the sales team is not disclosing information regarding reasons for why this would happen to merchants, thus blindsiding them when it happens.

Square’s advertised approach to customer service is “get real support from real people.” In this department, we are forced to call their bluff based on the countless negative reviews about customer service. Many reviews speak to the difficulty to reach an actual person and lack of communication outside of automated emails. The main issues with the customer service department vary and are not limited to: funds being held/frozen for months, accounts being closed without warning, and inability to reach a human to speak with when calling for explanations are a few of the recurring complaints.

Truth in Marketing

Discloses All Important Terms


Public Pricing Available


Square Pricing, Rates & Fees


Square has transparent pricing where merchants pay the same rate for every card type and never will have to deal with “weird fees.” Aside from the advertised pricing on their website, which is extensive, they also offer custom pricing depending on the business environment. Generally, in-person/swiped transactions incur a rate of 2.6% + 10¢ while keyed transactions have a rate of 3.5% + 15¢.  Outside of these general pricing scenarios, see below:  

Square Invoices transactions: 2.9% + 30¢ 

-Payments taken online using Square Invoices.

Card-not-present transactions: 3.5% + 15¢ 

-Pay 3.5% + 15¢ when entering a card number manually in the Square POS app.

Square Virtual Terminal transactions: 3.5% + 15¢ 

-Enter card numbers securely on your computer or swipe a card for 2.75%.

Card on File transactions: 3.5% + 15¢ 

-Payments made using payment details stored on your point of sale.

eCommerce transactions: 2.9% + 30¢ 

-Payments made using Square Online Store, eCommerce integrations, or online payment APIs. A rate of 2.6% + 30¢ per trans is available when using the Square Online Store Premium plan.

Terminal API and Reader SDK transactions: 2.6% + 10¢ 

-Payments made at a custom-built point of sale, attended kiosk, or other in-person payment solution.

In-App Payments SDK transactions: 2.9% + 30¢ 

-Payments made using your business’s mobile app.

Online Payment APIs transactions: 2.9% + 30¢

-Payments made using eCommerce integrations or online payment APIs.


The cost of the Square software/app that syncs with hardware varies depending on your business environment and needs, but it ranges from $0-$90 per month.  

Square has an array of hardware. Your first magstripe reader is free, and $10 for any additional units. The contactless and chip card reader (mobile payments) is $49. Square’s name brand terminal will run merchants $299 or $27/mo for 12 months. The Square Register will set merchants back $799 or $39/mo for $24 months. Lastly, they sell a stand for iPads (iPad not included) that runs $169 or $16/mo for 12 months; the stand turns your iPad into a countertop POS solution.

Additional services:

-Payroll services cost $5/person + $29/mo (omit monthly fee if merchant deals with contractors).

-Email marketing to customers: starting at $15/mo

-Loyalty program for customers: starting at $45/mo

-Giftcards: starting at 80¢ (eGift cards are free)

Pricing at a Glance

Pricing Model

Interchange Plus

Swiped Rate

2.6% + 10¢

Keyed-in Rate

3.5% + 15¢

Mobile Payment Rate

2.6% + 10¢

Virtual Terminal Rate

3.5% + 15¢

Monthly Fee


Payment Gateway Fee


Batch Fee


Early Termination Fee


PCI Compliance Fee


Equipment Lease Terms

Variable (pay in installments or rent)

Address Verification Service (AVS)


Application Fee


Account Setup Fee


Gateway Setup Fee


Annual Fee


Monthly Minimum


Statement Fee


Square Contract & Terms

Square does not publicly disclose their merchant application or contract terms & conditions, though it has been found that the contract length is typically month-to-month.

Merchants who have opted for the flexible payment option by paying for equipment in installments, will have to read their contract details regarding payment after cancellation. *Note: as of March 2020, the Square Installments program has been temporarily paused until further notice.

In general, it can be said that contract terms can vary depending on the nature of your business.

Square does not have an early termination fee (ETF), but we always encourage merchants to read the fine print on all applications and contracts.

Contract Length


Early Termination Fee


Square Setup & Support


Setup Highlights

  • Documentation / Knowledge Base
  • Live Online (1-on-1)

Support Highlights

  • Domestic Phone Support (Business Hours)

Square Complaints, Ratings & Reviews

Reviews left by merchants on third-party comparison websites are very mixed, though we will say there appears to be more bad than good. 

Positive reviews state that merchants like the equipment, customer service, and the easy to use apps, claiming Square is much easier to work with when compared to Paypal.

Google reviews give Square a 2.5 while ConsumerAffairs.com gives a 2 rating. Merchants claim to experience bad customer service, holding of funds, and complaints about the payroll program and the Square Cash App, just to name a few.

The BBB gives Square an “NR” rating, not rated. The reviews give Square an overall 1 star rating with a total of 401 reviews. The BBB reports 4,375 complaints in the last 3 years. Most of these complaints fall into the “problem with a product or service” category. Upon further research, it seems that most of these complaints are related to the Square Cash App.

We found a handful of class-action lawsuits and a couple of individual lawsuits against Square.



NR (401 reviews, 4,375 complaints)


2.5 Stars | (358 reviews)


No reviews




Total Online Reviews


Total Online Complaints




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