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E-Commerce · head to head

Square for Retail vs Wise Business

Square for Retail logo

Square for Retail

E-Commerce

Integrated point of sale and retail management

From
Free
Rated
-
Full reviewWebsite
Wise Business logo

Wise Business

Accounting

The smart way to send and receive business payments

From
$29/month
Rated
-
Full reviewWebsite

The short version

  • Only Square for Retail has a free tier, so it costs nothing to try first.
  • Each has a real cost: Square for Retail limited customer support with primarily email and online forums, slow response times for urgent issues; Wise Business opening a Wise Business account in the UK carries a one off setup fee of 50 GBP
  • They diverge on capability: Square for Retail covers Contactless payments, Wise Business covers Multi-currency accounts.

Where they differ

Only the attributes on which Square for Retail and Wise Business actually diverge.

Attributes where Square for Retail and Wise Business differ
AttributeSquare for RetailWise Business
Starting priceFree$29/month
Pricing modelUnknownusage-based
Free tierYesNo
PlatformsiOS, APIWeb, Ios, Android, Api
CategoryE-CommerceAccounting
Founded20092011

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 Square for Retail

  • Contactless payments
  • Inventory tracking
  • Employee management
  • Customer profiles
  • Sales analytics
  • Receipt printing
  • Integration with Square Online
  • Reporting tools

Only in Wise Business

  • Multi-currency accounts
  • International transfers
  • Batch payments
  • API access
  • Team management
  • Xero
  • QuickBooks
  • Various

What people use each for

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

Square for Retail

  • Retail point-of-sale systemsnot Wise Business
  • Online store payment processingnot Wise Business
  • Appointment and booking schedulingnot Wise Business
  • Phone and field payment collectionnot Wise Business

Wise Business

  • Holding and converting multiple currencies as a businessnot Square for Retail
  • Paying international suppliers and contractors at the mid market ratenot Square for Retail
  • Receiving payments into local currency account details in several countriesnot Square for Retail

Where each one falls short

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

Square for Retail

  • Limited customer support with primarily email and online forums, slow response times for urgent issues
  • Internet connectivity required for normal operations; weak signal impacts transaction processing and experience
  • Restricted to Square's payment processing with higher transaction fees compared to some competitors
  • Limited to iOS devices and Square's proprietary hardware, excluding Android or third-party devices
  • Limited advanced retail capabilities and deeper third-party integrations compared to enterprise POS systems

Wise Business

  • Opening a Wise Business account in the UK carries a one off setup fee of 50 GBP
  • Volume discounts on transfers start only above 20,000 GBP equivalent sent per month

Pricing, plan by plan

Square for Retail

Free
  • FreeFree
    • Payment processing at 2.6% + 15 cents
    • Basic inventory management
    • Invoicing
  • Plus$49/month
    • In-person: 2.5% + 15 cents
    • Online: 2.9% + 30 cents
    • Product exchanges
  • Premium$149/month
    • In-person: 2.4% + 15 cents
    • Online: 2.9% + 30 cents
    • Advanced features

Wise Business

$29/month
  • StandardFree
    • Multi-currency account
    • Real exchange rate
    • Batch payments

Which should you pick?

Choose Square for Retail if

  • You need contactless payments.
  • You want to start without paying.
  • You work on iOS, API.
  • You also want inventory tracking.
Square for Retail review

Choose Wise Business if

  • You need multi-currency accounts.
  • You work on Web, Ios, Android, Api.
  • You also want international transfers.
Wise Business review

Questions people ask

Is Square for Retail or Wise Business better?
Neither clearly leads. Square for Retail starts at Free and Wise Business at $29/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Square for Retail or Wise Business?
Square for Retail has a free tier; the other does not. Paid plans start at Free for Square for Retail and $29/month for Wise Business.
Does Square for Retail or Wise Business run on more platforms?
Square for Retail runs on iOS, API. Wise Business runs on Web, Ios, Android, Api.
Can I use Square for Retail for free?
Yes. Square for Retail has a free tier, so you can try it without paying. Wise Business starts at $29/month.
What is Square for Retail best used for?
Square for Retail is most often used for retail point-of-sale systems, online store payment processing, appointment and booking scheduling, phone and field payment collection. Of those, retail point-of-sale systems and online store payment processing are not what Wise Business is typically brought in for.
What can Square for Retail do that Wise Business cannot?
Square for Retail covers Contactless payments, Inventory tracking, Employee management, Customer profiles. Wise Business covers Multi-currency accounts, International transfers, Batch payments, API access.

Answered from the vendors’ own pages

Square for Retail: Does Square for Retail have a free tier?

Yes, Square for Retail's free tier includes payment processing at 2.6% plus 15 cents per transaction, basic inventory, invoicing, online shop, and booking tools with no monthly subscription fee.

Source
Wise Business: How fast are international transfers with Wise Business?

Wise Business offers fast global payments with 70% arriving in 20 seconds and 95% arriving in under 24 hours. You can also pay up to 1,000 contacts in a single batch transfer.

Source
Square for Retail: What are the transaction fees across Square's pricing tiers?

Free tier: 2.6% + 15 cents. Plus tier ($49/month): 2.5% + 15 cents in-person, 2.9% + 30 cents online. Premium tier ($149/month): 2.4% + 15 cents in-person, 2.9% + 30 cents online.

Source
Wise Business: Does Wise Business offer volume discounts?

Yes, volume discounts are available on monthly transfers over 20,000 GBP or equivalent.

Source
Square for Retail: What devices can run Square for Retail?

Square for Retail runs on iOS devices (iPad and iPhone) using Square's proprietary hardware or compatible mobile devices, and requires integration with Square's payment processing.

Source
Wise Business: How does Wise Business keep funds secure?

Wise customers move over AED60 billion monthly with systems built to keep funds safe. The company runs over 7 million daily fraud checks (80 per second), keeps funds diversified with secure financial institutions, and offers 24/7 customer support.

Source
Square for Retail: Can I use Square for Retail offline?

Square for Retail depends on an internet connection for optimal functionality. Offline functionality is limited, and high-traffic operations may require recharging or connection verification.

Source
Square for Retail: Does Square for Retail support third-party integrations?

Yes, Square offers integrations through its App Marketplace and provides APIs for custom development including payments, inventory, orders, customers, loyalty, and webhooks.

Source
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