Square is a popular point of sale (POS) system known for its ease of use and affordability. However, it may not be the best fit for every business due to its limited features and high processing fees. Finding the right POS system is crucial for managing transactions efficiently and growing your business. In this article, we will explore the top Square alternatives, highlighting their features, pricing, and pros and cons to help you make an informed decision.
Square is an excellent entry-level POS system, especially for small businesses like restaurants and retailers. It offers free credit card readers and a user-friendly interface, making it easy to collect payments in-store and on the go. However, Square’s basic plan comes with limited features, and its processing fees can be high, especially for businesses with low average order values (AOVs).
A good POS system should not only handle payment processing but also offer tools for inventory management, customer relationship management (CRM), and employee management. It should be scalable to meet the growing needs of your business. The right POS system can streamline operations, improve customer service, and ultimately increase revenue.
Advanced Features and Inventory Management
Lightspeed is a robust POS system designed for high-inventory retail businesses. It offers advanced features such as inventory tracking across categories like color and size, online sales management, and marketing tools. Lightspeed also integrates with payroll software like Homebase, making it a comprehensive solution for retail and restaurant businesses.
Pricing and Hardware Options
Lightspeed offers five monthly subscription plans ranging from $69 to $299, depending on the add-ons you choose. It provides a 14-day free trial, allowing you to test its features before committing. The system includes a range of hardware options, including POS terminals and mobile readers, to suit different business needs.
Sector-Specific Offerings and Integration Versatility
Epos Now is a popular alternative to Square, particularly in the retail and hospitality sectors. It offers dedicated software modules for restaurants, pubs, bars, takeaways, hotels, and various retail types like clothing shops and electronics stores. Epos Now is known for its simple payment processing fees and versatility in accepting a range of payment types.
Pricing and Features Comparison with Square
Epos Now provides competitive pricing with no hidden fees. It integrates seamlessly with various third-party tools, offering more flexibility than Square. The system includes features like chip-and-pin and contactless mobile payments, remote transactions, and online payments.
Specialization in the Hospitality Industry
Toast is a specialized POS system designed for restaurants, focusing on food delivery management and a dedicated takeout and delivery app. It offers key features like digital order management, front-of-house and back-of-house tasks, sales tracking, and customer engagement.
Key Features and Pricing
Toast’s Essentials package starts at $165 per month, offering optional add-ons like Toast Payroll. It provides detailed sales reports that drill down to sales by item to inform purchasing and pricing strategies. Toast is ideal for restaurants looking for a tailored solution.
Affordable Hardware and Industry-Specific POS
Clover is known for its affordable hardware options, making it a popular choice for businesses on a budget. It offers terminals with main touchscreens and user-facing screens, similar to Square. However, Clover provides more out-of-the-box features like analytics, CRM, staffing tools, and restaurant-specific features without additional costs.
Advanced Tools for Reporting, Inventory, and CRM
Clover works with a wider variety of third-party tools than Square, offering a more integrated business command center. It includes features like customer feedback, loyalty programs, and promotions. Clover’s hardware is robust and offers tons of built-in features, making it an attractive option for businesses needing comprehensive POS solutions.
No Monthly Fee and Affordable Hardware
PayPal Zettle is a subsidiary of PayPal that offers payment processing, POS systems, and tools for managing business operations like risk management and data analytics. It doesn’t charge a monthly rate for credit card transactions and is more international in its market reach compared to Square.
In-Person Payment Processing Fees and Features
Zettle allows for easy acceptance of various payment methods, including online checkout, POS, and invoices. It also offers financial services like card applications and loans. The system includes operational tools like returns management, disputes resolution, and shipping automation using artificial intelligence and automations.
Integration with eCommerce Platforms
Shopify POS is a major competitor in e-commerce and payment processing. It integrates seamlessly with Shopify’s eCommerce platform, making it easy to manage both in-store and online sales. Shopify provides powerful sales, inventory, customer, and employee management tools from a single interface.
Features for In-Store and Online Sales
Shopify POS includes advanced reporting on best and worst sellers to inventory turnover ratio. It allows for reconciliation of registers and tracking sales by employee. The system offers five pricing tiers starting from $9/month with a free card reader, making it an affordable option for businesses of all sizes.
Volume-Based Interchange-Plus Pricing
Helcim offers volume-based interchange-plus pricing, which can be more cost-effective for businesses processing high volumes of transactions. It also provides multicurrency features and no monthly fee, making it an attractive option for international businesses.
Multicurrency Features and No Monthly Fee
Helcim supports a wide range of payment types and offers robust reporting features. It integrates with various third-party tools, providing a flexible solution for businesses with diverse payment needs.
Online Payment Processing and Customization
Stripe is known for its online payment processing capabilities, offering customization options that can be advantageous for businesses processing small transactions. Its fee for online payments is the same as Square’s, but its POS fee for in-person card payments is 2.7% + $0.05 per transaction.
Pros and Cons of Using Stripe
Stripe provides excellent customization options but may lack some of the advanced features offered by other POS systems. It is ideal for businesses that prioritize online payment processing and need flexibility in their payment solutions.
| Alternative | Features | Pricing | Pros | Cons |
|---|---|---|---|---|
| Lightspeed | Inventory management, online sales, marketing tools | $69 – $299/month | Advanced features, scalable | Higher pricing for advanced plans |
| Epos Now | Sector-specific offerings, integration versatility | Competitive pricing | Simple payment processing, versatile integration | Limited customization options |
| Toast | Food delivery management, takeout and delivery app | $165/month (Essentials) | Specialized for restaurants, detailed sales reports | Higher pricing compared to some alternatives |
| Clover | Affordable hardware, industry-specific POS, advanced tools | Competitive pricing | Robust hardware, comprehensive features | Limited customization options for advanced plans |
| PayPal Zettle | No monthly fee, international market reach, operational tools | No monthly fee for credit card transactions | Affordable hardware, no monthly fee | Limited advanced features compared to other alternatives |
| Shopify POS | Integration with eCommerce platforms, powerful sales and inventory management | $9 – $99/month (Shopify plans) | Seamless integration with eCommerce, robust reporting | Higher pricing for advanced plans |
| Helcim | Volume-based interchange-plus pricing, multicurrency features | Volume-based pricing | Cost-effective for high-volume transactions, multicurrency support | Limited customization options for advanced plans |
| Stripe | Online payment processing, customization options | 2.7% + $0.05 per transaction (POS) | Excellent customization options, flexible payment solutions | Limited advanced features for in-person transactions |
Choosing the right POS system is crucial for the success of your business. Each of the alternatives listed above offers unique features and pricing plans tailored to different business needs. Here’s a summary of the best Square alternatives based on different business needs:
By considering these alternatives and their respective features, you can make an informed decision that best suits your business needs, ultimately enhancing your operations and growth.
Introduction Credit card points have become a ubiquitous feature in the world of consumer finance,…
Introduction Square, founded in 2009 by Jack Dorsey and Jim McKelvey, has revolutionized the way…
Introduction Online payment processing is a crucial aspect of modern commerce, enabling businesses to receive…
Introduction In today's fast-paced financial landscape, managing payments efficiently is crucial for both individuals and…
Did you know that businesses using the best international payment gateways can see a significant…
In today's digital economy, choosing the right payment processor is crucial for businesses of all…