APIs · head to head
Basis Theory vs Square
Basis Theory
APIs
Developer tokenisation platform that holds card and sensitive data inside a PCI Level 1 environment you do not operate
- From
- $995/month
- Rated
- -
The short version
- Only Square has a free tier, so it costs nothing to try first.
- Each has a real cost: Basis Theory the Starter plan is 995 US dollars a month before any volume, which is a real floor for an early stage company and puts the product out of reach of teams tokenising a few thousand records.; Square plus plan pricing not specified in documentation
- They diverge on capability: Basis Theory covers Tokenisation API, Square covers Payment processing.
- Prices and features above were last checked on 31 August 2026.
Where they differ
Only the attributes on which Basis Theory and Square actually diverge.
| Attribute | Basis Theory | Square |
|---|---|---|
| Starting price | $995/month | Free |
| Pricing model | Per month by token volume | freemium |
| Free tier | No | Yes |
| Platforms | Web, iOS, Android, Linux | POS (Mobile app), Web |
| Category | APIs | E-Commerce |
| Founded | Unknown | 2009 |
Identical on both: user rating (Not yet rated).
What each one covers
Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.
Only in Basis Theory
- Tokenisation API
- Hosted elements
- Outbound proxy
- PCI attestation of compliance
- Processor portability
- Reactors
- Access controls and audit
- PII and PHI options
Only in Square
- Payment processing
- Point of sale
- Invoicing
- Payroll
- Banking
- QuickBooks
- WooCommerce
- Wix
What people use each for
The jobs each tool is most often brought in to do.
Basis Theory
- A payments company that wants card on file without bringing its own infrastructure into PCI scope and paying for the assessment that followsnot Square
- A merchant locked into a processor by that processor vault that wants to hold its own tokens and route to more than one acquirernot Square
- A fintech collecting bank account and identity data that needs it isolated from its application database before an enterprise security reviewnot Square
- A team that needs to send stored card data to a third party for a one-off integration without that data traversing its own serversnot Square
Square
- Accept payments with all-in-one POS applicationnot Basis Theory
- Online ordering and basic website creationnot Basis Theory
- Invoicing and appointment bookingnot Basis Theory
- Staff scheduling and loyalty programmesnot Basis Theory
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Basis Theory
- The Starter plan is 995 US dollars a month before any volume, which is a real floor for an early stage company and puts the product out of reach of teams tokenising a few thousand records.
- Starter is limited to the US region, so a company with European data residency requirements is pushed into a quoted Scale or Enterprise agreement immediately.
- Log retention on Starter is 24 hours, which is well below what most security teams expect for a system holding cardholder data and forces an upgrade for reasons unrelated to volume.
- Migrating away means moving card data out of the vault, which requires processor and assessor involvement and is slow, so the portability argument that attracts buyers cuts against them at exit.
- An attestation of compliance covers the vendor environment, not your assessment; your assessor still decides what is in scope, and buyers occasionally discover their integration pattern pulled systems back into scope anyway.
Square
- Plus plan pricing not specified in documentation
- Processing fees differ by tier but exact rates not detailed
- Free plan pricing mentioned but specific features for Plus unclear
- Text marketing charged at 3¢ per message after first 500 included
Pricing, plan by plan
Basis Theory
$995/month- Starter$995/month
- 20,000 tokens included
- Production PCI Level 1 environment
- US region only
- Scale$undefined/month
- Quoted
- Higher token volumes
- Additional regions
- Enterprise$undefined/month
- Quoted
- Additional compliance options for PII and PHI
- Responses for 95 percent of PCI SAQ D
Square
Free- FreeFree
- Accept payments with all-in-one POS app
- Online site builder (ordering profiles, basic websites, online stores, booking sites)
- Item library and inventory tracking
- Plus$null/mo
- All Free plan features
- Advanced POS features for food, retail, and appointments
- Lower processing fees on card transactions
Which should you pick?
Choose Basis Theory if
- You need tokenisation api.
- You work on Web, iOS, Android, Linux.
- You also want hosted elements.
Choose Square if
- You need payment processing.
- You want to start without paying.
- You work on POS (Mobile app), Web.
- You also want point of sale.
Questions people ask
- Is Basis Theory or Square better?
- Neither clearly leads. Basis Theory starts at $995/month and Square at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Basis Theory or Square?
- Square has a free tier; the other does not. Paid plans start at $995/month for Basis Theory and Free for Square.
- Does Basis Theory or Square run on more platforms?
- Basis Theory runs on Web, iOS, Android, Linux. Square runs on POS (Mobile app), Web.
- Can I use Square for free?
- Yes. Square has a free tier, so you can try it without paying. Basis Theory starts at $995/month.
- What is Basis Theory best used for?
- Basis Theory is most often used for a payments company that wants card on file without bringing its own infrastructure into pci scope and paying for the assessment that follows, a merchant locked into a processor by that processor vault that wants to hold its own tokens and route to more than one acquirer, a fintech collecting bank account and identity data that needs it isolated from its application database before an enterprise security review, a team that needs to send stored card data to a third party for a one-off integration without that data traversing its own servers. Of those, a payments company that wants card on file without bringing its own infrastructure into pci scope and paying for the assessment that follows and a merchant locked into a processor by that processor vault that wants to hold its own tokens and route to more than one acquirer are not what Square is typically brought in for.
- What can Basis Theory do that Square cannot?
- Basis Theory covers Tokenisation API, Hosted elements, Outbound proxy, PCI attestation of compliance. Square covers Payment processing, Point of sale, Invoicing, Payroll.
Answered from the vendors’ own pages
Basis Theory: Does this make us PCI compliant?
It removes cardholder data from your systems and gives you an AOC plus documented responses for most of a SAQ D. Your assessor still determines your scope, and a careless integration can pull systems back in.
Square: Does Square offer a free plan?
Yes, Square's free plan includes an all-in-one POS app, online site builder, item library and inventory tracking, invoicing, appointment scheduling, staff calendars, and checking and savings account access. No subscription fees are charged.
SourceBasis Theory: What does it cost to start?
995 US dollars a month on Starter, including 20,000 tokens, a production PCI Level 1 environment and US hosting. Higher tiers are quoted.
Square: What does Square Plus add compared to the free plan?
Square Plus adds advanced POS features for food and retail, lower processing fees on card transactions, custom loyalty programs, unlimited email marketing campaigns, text messaging, and staff scheduling and attendance tracking.
SourceBasis Theory: Can we switch payment processors without re-collecting cards?
Yes, that is the main non-compliance reason to buy it. You hold the tokens and detokenise into whichever processor you route to.
Basis Theory: Is data stored outside the United States?
Not on Starter, which is US only. Other regions require a Scale or Enterprise agreement.
Related pages
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