Square VS PayAnywhere Rate Comparison
Don’t get boxed in by Square pricing at 2.69% thinking they are a good deal. Utah EZ Pay wants to make sure you know exactly what Square’s rates are so you can conclude for yourself. If you look at the top of this page, you will see a screenshot of the Square Pricing (right from their website). In this page we will share the difference, you’ll get to see for yourself, Square 2.69% VS PayAnywhere .39% – 1.29% pricing. Let us get you squared away today!
Square VS PayAnywhere Swiped Transactions
Pricing for both card processing platforms using a tiered rate structure for swiped transactions.
Square Swiped Rate Pricing:
The Square service is much like a “money service” however, most customers have no idea they are paying higher card processing fees. Square has bundled all of their transactions into one average price for swiped cards.
Having all the cards bundled together pushes the total effective rate up for swiped cards. This is a great way for the company to make more money by charging you a higher rate but making it appear that you are paying less. But in reality…
You are paying with Square:
2.6% + 10¢ per transaction.
PayAnywhere Swiped Rate Pricing:
PayAnywhere is a “merchant service provider” who processes payments based on the actual amount each card charges. Even with the mix of cards, your effective rate will end up being much less than the 2.6% Square is charging.
- .35% + 10¢ Debit Card With A PIN
- 1.29% + 10¢ Debit & Credit Cards No PIN
- 2.25% + 10¢ AMEX / Rewards Cards
- 2.99% + 10¢ Manually keyed-in with our Virtual Terminal
- The average of all of the card mix above = 1.72%.
You cold be paying with PayAnywhere:
1.72% + 10¢ per transaction.
Square VS PayAnywhere – Card Not Present Online Transactions
With both card processing platforms using a tiered rate structure for card not present online transactions.
You are paying with Square:
2.9% + 30¢ per transaction.
You could be paying with PayAnywhere:
2.69% + 18¢ per transaction.
Square VS PayAnywhere – Manually Keyed-In Transactions
With both card processing platforms using a tiered rate structure for manual keyed in transactions.
You are paying with Square:
3.5% + 15¢ per transaction.
You could be paying with PayAnywhere:
2.69% + 18¢ per transaction.
PayAnywhere + Edge 0% – For All Transactions
Now let’s considered our Edge 0% ALL Cards Processing Option. By choosing this option, you would completely eliminate 90% or more of your card processing fees!
Square Swiped:
2.6% + 10¢ per transaction.
Square Online:
2.9% + 30¢ per transaction.
Square Manually Keyed:
3.5% + 15¢ per transaction.
PayAnywhere Swiped:
0% + 0¢
PayAnywhere Online:
0% + 0¢
PayAnywhere Manually Keyed:
0% + 0¢
How Fast Do You Want To Receive Your Funds?
Now Let’s Talk About Payment Solutions:
A word of caution below….
Below is another screenshot directly from the Square website. As you can see, they want you to make payments for 12 – 24 months, before you’ll own the system. But a word of cation from us here at Utah EZ Pay, you never want/or need to buy or own a system. This we say for a variety of reasons including that there will be many different employee hands touching the system causing wear and tear, it can break and software/hardware becomes outdated.
A much better solution….
The better path, and one that we offer, is to let us provide your business with a smart terminal for free, that’s right, no charge. This way, if something ever goes wrong with the unit, we will replace it for free. Also, in the ever-changing world of digital payments, you will receive updates for your new smart terminal. Or, replace the units with a new smart terminal if the time ever comes that it is dated, breaks or needs replacement. Certainly a much better path for your business!
Square VS PayAnywhere Equipment Comparison
Free Payment Solutions From PayAnywhere:
PayAnywhere Smart POS+ Fully Integrated Reporting System.
PayAnywhere Smart POS+ Fully Integrated Reporting System.
PayAnywhere Smart Terminal + Fully Integrated Reporting System.
Accept Cards, Manage Employees, View Inventory & Much More!
Square VS PayAnywhere – Local Rep Support:
Besides everything else you have read so far, there is yet another area where we really shine here at Utah EZ Pay with PayAnywhere vs Square. Both processing platforms provide 24-hour support. However there is way more to consider…
Square Local Rep Support:
None.
PayAnywhere Local Rep Support:
Yes!
You have having an issue and you don’t necessarily want to call 1-800 for support.
You can call or text your local representative at anytime. This is what they are there for.
They will be able to come right to your business, if ever needed, as they often live nearby.
The PayAnywhere App Will Help You Grow & Manage Your Business
Enjoy Free Our Payments Hub Desktop Virtual Terminal:
Square VS PayAnywhere – Local Rep Support:
What makes Square VS PayAnywhere from Utah EZ Pay so good? Getting double support. Not only from NAB on the 1-877 corporate level, but also yours truly on the local Salt Lake City area level. Greg G Kapitan, “Kapitan The Credit Card Man”. You can call or text me at: 801-205-1955 anytime. Put my number in your phone, you will be glad you did!
