Best credit card terminal rates12/29/2023 ![]() You also get a 2-year limited warranty for the Square register and a 1-year limited warranty for other Square hardware. Square reader for contactless and chip: 1st generation costs $49, while 2nd generation costs $59Īll equipment comes with free 30-day returns.Square stand and Square stand mount: each costs $149 or $14/mo for 12 months.Square terminal: $299 or $27/mo for 12 months.Square register: $799 or $34/mo for 24 months.There are also lots of other POS equipment to choose from: You can choose one with a headset jack or one with a lightning connector. Additional magstripe readers cost $10 each. Square offers a free magstripe card reader to help you get started. Some add-ons offer a free trial for 30 days. You can integrate these features into your POS, but they will come with separate pricing. Square offers more business tools like Payroll, Loyalty, Marketing, and Banking. You can set discounts, issue refunds, send invoices, get detailed reporting, manage your customer database, and handle employee and inventory management, all on the app. In addition, the Square Point of Sale (POS) app is one of the most powerful, making it a great choice for mobile payment processing. You'll also get a month-to-month contract with no cancellation fee. In fact, Square does not even charge a chargeback fee for disputes. Plus, you don't need to worry about hidden fees. There are no monthly fees, and you can get a free Square reader, which means you can basically start for free.Īll accounts get a free virtual terminal, payment gateway, and an online store. Square works great for new and small businesses because it's a flat-rate payment processor. Note that the ratings on this list are determined in comparison to other cheap payment processors. ![]() If you're just starting out, Square can be a good option. Surcharge your customers as a high-risk businessĮstablished brand handling over 50% of all e-commerce payments Save up to 40% or up to $600 on processing feesĪll-in-one platform for US-only businesses Businesses with larger sales volume, on the other hand, may get to save more with interchange-plus pricing or subscription pricing.Įasy to use interface & free card reader availableĪutomatically lowers your processing feesĪccept global payments (supports over 135 currencies) ![]() New and small businesses may be better off with flat-rate (pay-as-you-go) pricing. ![]() Payment processors have varying pricing models, which is what will determine the affordable option for your business. Cheapest Credit Card Processing Companies But this account type is more prone to account stability issues and a lack of customer service. There's no underwriting required, so it's easier to get started. The merchant account is owned by the provider, and businesses that apply for credit card processing will receive a sub-merchant account instead. Payment Services Provider (PSP): You don't receive your own unique merchant ID with PSPs.They typically require an underwriting process to get approved for an account. You get your own merchant account with a unique merchant ID number. Merchant Account Provider: Merchant account providers are full-service credit card processors.When looking for a credit card processing company, you need to think about what level of service you want.
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