Head to head · Software-first card payments
Square vs Stripe Terminal: which costs less in person?
Updated
Square and Stripe both started as software companies, and both now sell card readers in Australia. Their in-person rates look almost the same until you add Stripe’s 10 cents a sale.
Verdict
Square is cheaper for in-person sales at every volume, and the gap grows as your average sale shrinks: on $10,000 a month, Stripe costs $1,327 a year more at a $10 average sale but only $187 more at $200. Stripe Terminal makes sense when you already run online payments on Stripe and want one system, or when you are big enough for its custom pricing.
Your numbers
The published terms
Square and Stripe in-person plans
| Plan | In-person rate | Monthly | Upfront | Amex | Settlement | Source | Link |
|---|---|---|---|---|---|---|---|
| Square Reader (Free plan) | 1.6% | $0 | $65 | Same 1.6% as Visa, Mastercard and eftpos | Next day, including weekends, free | Square pricing | Square (opens in a new tab) |
| Square Terminal (Free plan) | 1.6% | $0 | $329 | Same 1.6% as Visa, Mastercard and eftpos | Next day, including weekends, free | Square pricing | Square (opens in a new tab) |
| Stripe Terminal | 1.65% + 10c (3.5% overseas cards) | $0 | $89 + GST | Amex supported; Stripe publishes one domestic card rate | Not stated on the pricing page | Stripe pricing | Stripe (opens in a new tab) |
Stripe Terminal: “1.65% + A$0.10 for domestic cards. 3.5% + A$0.10 for international cards.” Tap to Pay on a phone adds A$0.15 per authorisation. (Stripe pricing, checked )
Square: “Visa, Mastercard, eftpos or American Express all cost the same rate. 1.6% per transaction.” Tap to Pay on iPhone and Android is free. (Square pricing, checked )
Stripe’s readers are priced excluding GST: the BBPOS WisePad 3 is A$89 and the Reader S700 and S710 are A$449 each. Unlimited cellular data on enabled readers is A$15 a month per reader. (Stripe pricing, checked )
Why sale size decides it
Fees a year at a $20 average sale
| Plan | $5,000 a month | $20,000 a month | $60,000 a month |
|---|---|---|---|
| Square Reader (Free plan) | $9601.60% | $3,8401.60% | $11,5201.60% |
| Stripe Terminal | $1,3232.21% | $5,2932.21% | $15,8802.21% |
A 10-cent fee is half a percent on a $20 sale and a twentieth of a percent on a $200 one. Stripe’s percentage is also 0.05 points higher, so there is no sale size at which it beats Square on domestic cards.
Overseas cards widen the gap. Stripe charges 3.5% plus 10 cents on international cards; Square publishes one 1.6% in-person rate for Visa, Mastercard, eftpos and Amex, with no separate overseas-card rate. Stripe notes lower international pricing from 1 April 2027, the day the RBA’s foreign-card interchange cap starts.
When Stripe is the right call anyway
Stripe Terminal is a set of readers and tools for building your own checkout, or for plugging into a point-of-sale system built on Stripe. It isn’t a terminal you unbox and use on its own. If your online shop or booking system already runs on Stripe, having in-person and online payments in one account can be worth more than the fee difference.
- Stripe online, domestic cards: 1.65% + 30c including GST. (Stripe pricing, checked )
- Square online: 2.2%. (Square pricing, checked )
At larger volumes both negotiate. Stripe lists interchange-plus pricing in its custom package; Square says it may build a custom package above $250,000 a year.