Softwr

Accounting · head to head

Melio vs Square

Melio logo

Melio

Accounting

Simple business payments

From
Free
Rated
-
Full reviewWebsite
Square logo

Square

E-Commerce

Powering the economy

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Melio card payments incur flat 2.9% fee on all plans; Square plus plan pricing not specified in documentation
  • They diverge on capability: Melio covers Vendor payments, Square covers Payment processing.

Where they differ

Only the attributes on which Melio and Square actually diverge.

Attributes where Melio and Square differ
AttributeMelioSquare
PlatformsWeb, Mobile appPOS (Mobile app), Web
CategoryAccountingE-Commerce
Founded20182009

Identical on both: starting price (Free), pricing model (freemium), free tier (Yes), 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 Melio

  • Vendor payments
  • Card to check
  • Payment scheduling
  • Approval workflows
  • QuickBooks sync
  • Xero
  • FreshBooks
  • SOC 2

Only in Square

  • Payment processing
  • Point of sale
  • Invoicing
  • Payroll
  • Banking
  • WooCommerce
  • Wix
  • PCI DSS

Both cover

  • QuickBooks
  • Web support
  • Ios support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

Melio

  • Accounts payable automationnot Square
  • Bill management and payment schedulingnot Square
  • Multi-vendor payment processingnot Square
  • Invoice receivables and payment collectionnot Square

Square

  • Accept payments with all-in-one POS applicationnot Melio
  • Online ordering and basic website creationnot Melio
  • Invoicing and appointment bookingnot Melio
  • Staff scheduling and loyalty programmesnot Melio

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Melio

  • Card payments incur flat 2.9% fee on all plans
  • International payments charged $20 flat fee or 2.9% conversion rate plus international fees
  • Paper checks cost $1.50 per check
  • Wire transfers cost $10 standard or up to 1% plus $10 for same-day processing
  • Core and Boost plans charged $10/month per additional user beyond base

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

Melio

Free
  • GoFree
    • 5 free ACH payments per month
    • Pay by card, wire, or check
    • Basic invoicing
  • Core$25/month
    • 20 free ACH payments per month
    • $20/month with annual billing
    • QuickBooks Online and Xero sync
  • Boost$55/month
    • 50 free ACH payments per month
    • $44/month with annual billing
    • QuickBooks Desktop sync
  • Unlimited$80/month
    • Unlimited free ACH payments
    • $64/month with annual billing
    • NetSuite sync

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 Melio if

  • You need vendor payments.
  • You want to start without paying.
  • You work on Web, Mobile app.
  • You also want card to check.
Melio review

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.
Square review

Questions people ask

Is Melio or Square better?
Neither clearly leads. Melio starts at Free and Square at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Melio or Square?
Melio starts at Free and Square at Free.
Does Melio or Square run on more platforms?
Melio runs on Web, Mobile app. Square runs on POS (Mobile app), Web.
Can I use Melio for free?
Both have a free tier, so you can try either at no cost before committing.
What is Melio best used for?
Melio is most often used for accounts payable automation, bill management and payment scheduling, multi-vendor payment processing, invoice receivables and payment collection. Of those, accounts payable automation and bill management and payment scheduling are not what Square is typically brought in for.
What can Melio do that Square cannot?
Melio covers Vendor payments, Card to check, Payment scheduling, Approval workflows. Square covers Payment processing, Point of sale, Invoicing, Payroll. Both handle QuickBooks, Web support, Ios support, Android support.

Answered from the vendors’ own pages

Melio: What does Melio charge for ACH payments?

Melio's free Go tier includes 5 free ACH payments per month. Core tier provides 20 free ACH payments per month at $25/month. Boost offers 50 free ACH payments at $55/month. Unlimited tier at $80/month includes unlimited free ACH payments.

Source
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.

Source
Melio: Does Melio charge fees for card payments?

Yes, Melio charges a flat 2.9% fee on all card payments. International card payments also include currency conversion charges and international fees beyond the base 2.9%.

Source
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.

Source
Melio: Can I use Melio for free?

Yes, Melio's free Go tier allows 5 free ACH payments per month with no subscription cost. Users can pay by card, wire, or check and access basic invoicing and payment link features.

Source
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