Softwr

E-Commerce · head to head

Square vs Trustly

Square logo

Square

E-Commerce

Powering the economy

From
Free
Rated
-
Full reviewWebsite
Trustly logo

Trustly

APIs

Pay-by-bank payments network, majority-owned by private equity firm Nordic Capital

From
On request
Rated
-
Full reviewWebsite

The short version

  • Only Square has a free tier, so it costs nothing to try first.
  • Each has a real cost: Square plus plan pricing not specified in documentation; Trustly it is majority-owned by Nordic Capital, a private equity firm, so its long-term roadmap is ultimately oriented toward an eventual sale or IPO rather than indefinite independent operation.
  • They diverge on capability: Square covers Payment processing, Trustly covers Pay by bank checkout.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Square and Trustly actually diverge.

Attributes where Square and Trustly differ
AttributeSquareTrustly
Starting priceFreeOn request
Pricing modelfreemiumquote
Free tierYesNo
PlatformsPOS (Mobile app), WebWeb, API
CategoryE-CommerceAPIs
Founded2009Unknown

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

  • Payment processing
  • Point of sale
  • Invoicing
  • Payroll
  • Banking
  • QuickBooks
  • WooCommerce
  • Wix

Only in Trustly

  • Pay by bank checkout
  • Instant refunds
  • Verified payouts
  • Multi-market bank connectivity
  • Merchant dashboard and reconciliation
  • Fraud and risk tooling

What people use each for

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

Square

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

Trustly

  • An e-commerce merchant wanting a lower-cost alternative or complement to card payment acceptancenot Square
  • A gaming or gambling operator needing verified, instant payouts to players' bank accountsnot Square
  • A merchant wanting instant refunds processed directly to a customer's bank account rather than card reversal delaysnot Square
  • A business in a market with strong open banking adoption wanting pay-by-bank as a checkout optionnot Square

Where each one falls short

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

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

Trustly

  • It is majority-owned by Nordic Capital, a private equity firm, so its long-term roadmap is ultimately oriented toward an eventual sale or IPO rather than indefinite independent operation.
  • Consumer familiarity with paying by bank transfer still lags card payments in most markets, so merchants typically see it used as a secondary option rather than a full card replacement.
  • The 1.15 to 3.15% merchant fee range is not a single published rate, so a merchant cannot know its actual cost without a sales negotiation.
  • As with all open banking-dependent payment methods, reliability depends on the consistency of the underlying banks' own APIs, which Trustly does not control.
  • Its verified payout functionality is heavily used in gaming and gambling, a sector with additional regulatory scrutiny, which is worth factoring in when evaluating vendor risk exposure by association.

Pricing, plan by plan

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

Trustly

On request
  • Trustly$undefined/month
    • Typical merchant cost of 1.15% to 3.15% depending on volume and market
    • Exact rate negotiated per merchant, not published as a flat card

Which should you pick?

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

Choose Trustly if

  • You need pay by bank checkout.
  • You work on Web, API.
  • You also want instant refunds.
Trustly review

Questions people ask

Is Square or Trustly better?
Neither clearly leads. Square starts at Free and Trustly at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Square or Trustly?
Square has a free tier; the other does not. Paid plans start at Free for Square and On request for Trustly.
Does Square or Trustly run on more platforms?
Square runs on POS (Mobile app), Web. Trustly runs on Web, API.
Can I use Square for free?
Yes. Square has a free tier, so you can try it without paying. Trustly starts at On request.
What is Square best used for?
Square is most often used for accept payments with all-in-one pos application, online ordering and basic website creation, invoicing and appointment booking, staff scheduling and loyalty programmes. Of those, accept payments with all-in-one pos application and online ordering and basic website creation are not what Trustly is typically brought in for.
What can Square do that Trustly cannot?
Square covers Payment processing, Point of sale, Invoicing, Payroll. Trustly covers Pay by bank checkout, Instant refunds, Verified payouts, Multi-market bank connectivity.

Answered from the vendors’ own pages

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
Trustly: Who owns Trustly?

Nordic Capital, a private equity firm, holds a 51.1% majority stake; Alfven & Didrikson and BlackRock hold smaller stakes.

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
Trustly: Is Trustly going public?

It has discussed an IPO but as of its most recent comments said one remained at least a year away.

Trustly: What does it typically cost a merchant?

Roughly 1.15% to 3.15% of transaction value depending on volume and market, negotiated per merchant.

Share

Related pages

More on Square

More on Trustly

Keep looking

Other head to heads