Alternatives · For Square sellers
Square alternatives: cheaper ways to take cards
Updated
Square charges 1.6% on in-person payments, or 1.9% if you signed up before 30 May 2024. With surcharges gone, that rate now comes straight out of your margin. Here is every plan we compare that costs less, and what each one gives up.
Verdict
8 of the 9 other plans we compare cost less than Square on the example numbers ($15,000 a month, $30 average sale). The cheapest, Westpac EFTPOS Now, saves $1,110 a year against 1.6% and $1,650 against 1.9%. Square’s free point-of-sale apps are the main thing you would need to replace.
Your numbers
Every alternative, priced against Square
Fees a year and the saving against Square
| Plan | Fees a year | vs Square Reader (Free plan) | vs Square, joined before 30 May 2024 |
|---|---|---|---|
| Westpac EFTPOS NowAmex at RBA average | $1,770 | $1,110 less | $1,650 less |
| CommBank Smart Mini | $1,782 | $1,098 less | $1,638 less |
| CommBank Smart terminal | $2,136 | $744 less | $1,284 less |
| Worldline Move 5000Amex at RBA average | $2,147 | $733 less | $1,273 less |
| NAB EFTPOS, Simple PricingAmex at RBA average | $2,218 | $662 less | $1,202 less |
| Zeller Terminal | $2,520 | $360 less | $900 less |
| SumUp Air reader | $2,520 | $360 less | $900 less |
| SumUp Solo | $2,520 | $360 less | $900 less |
| Stripe Terminal | $3,670 | $790 more | $250 more |
We compare only the 9 plans listed here, not the whole market. Other products may be available that suit you better.
These are 9 of the 11 plans we compare, from 8 providers. Rates from each provider’s pricing page, checked 3 October 2026.
First, check which Square rate you pay
Square’s 1.6% applies to sellers who signed up on or after 30 May 2024. Sellers who signed up before then pay 1.9% on Square Reader, Square Stand and Tap to Pay. (Square pricing, checked )
If you are on 1.9%, 8 of the 9 alternatives cost less, and the cheapest cuts your fees by 48% on the example numbers. Your rate is on your Square fee schedule and in your monthly statements.
What you give up by leaving
Every Square account includes free point-of-sale apps, transfers as soon as the next day, and Tap to Pay on iPhone and Android at no hardware cost. (Square pricing, checked )
The bank plans give you a terminal and a merchant facility; your menu, stock and sales reporting have to live somewhere else. If you rely on Square’s software, price its replacement before you switch. If you only use Square to take payments, the saving above is close to clean.
Settlement also changes. Zeller pays the next business day into any bank; CommBank’s Smart Mini and Westpac pay fastest into their own accounts; SumUp pays in one to three business days.
Or ask Square for a better deal
Square says it may create a custom package, with custom processing rates, for businesses processing more than $250,000 a year. (Square pricing, checked )
That is about $21,000 a month. Above it, a quote from a bank in hand is the strongest argument you can bring. From 30 October the large acquirers publish their average fees by merchant size, which gives you another benchmark.