Softwr

E-Commerce · head to head

Square vs Wise Business

Square logo

Square

E-Commerce

Powering the economy

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 has a free tier, so it costs nothing to try first.
  • Each has a real cost: Square plus plan pricing not specified in documentation; Wise Business opening a Wise Business account in the UK carries a one off setup fee of 50 GBP
  • They diverge on capability: Square covers Payment processing, Wise Business covers Multi-currency accounts.

Where they differ

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

Attributes where Square and Wise Business differ
AttributeSquareWise Business
Starting priceFree$29/month
Pricing modelfreemiumusage-based
Free tierYesNo
PlatformsPOS (Mobile app), WebWeb, 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

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

Only in Wise Business

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

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.

Square

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

Wise Business

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

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

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

Wise Business

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

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 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 or Wise Business better?
Neither clearly leads. Square 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 or Wise Business?
Square has a free tier; the other does not. Paid plans start at Free for Square and $29/month for Wise Business.
Does Square or Wise Business run on more platforms?
Square runs on POS (Mobile app), Web. Wise Business runs on Web, Ios, Android, Api.
Can I use Square for free?
Yes. Square has a free tier, so you can try it without paying. Wise Business starts at $29/month.
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 Wise Business is typically brought in for.
What can Square do that Wise Business cannot?
Square covers Payment processing, Point of sale, Invoicing, Payroll. Wise Business covers Multi-currency accounts, International transfers, Batch payments, API access. Both handle QuickBooks, Web support, Ios support, Android support.

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
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: 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
Wise Business: Does Wise Business offer volume discounts?

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

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
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