Square is a financial services and digital payments company that provides payment and point-of-sale solutions for businesses. In this article, we discuss the top Square Competitors and Alternatives.
Square was founded in 2009 by Jack Dorsey, who also co-founded Twitter. Square, renowned for its compact card reader that allows merchants to accept mobile payments, has broadened its offerings to include payroll services, point-of-sale systems, small business loans, and more. As an innovative pioneer in the digital payments industry, Square has been recognized by Fast Company as one of the world’s most innovative companies.
Its user-friendly interface, transparent pricing, and approachability for small businesses have cultivated a devoted customer base, keeping Square a potent player in the fintech industry despite rising competition.
- Product Type: Financial services and digital payments
- Industry: Technology
- Founded Date: 2009
- Founders: Jack Dorsey and Jim McKelvey
- Headquarters: San Francisco, California, United States
- Area Served: Worldwide
- Current CEO: Jack Dorsey
Table of Contents
The top Square competitors are
1. PayPal/PayPal Zettle
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: December 1998
- Founders: Max Levchin, Peter Thiel, Luke Nosek, Ken Howery, Yu Pan
- Headquarters: San Jose, California, United States
- Area Served: Worldwide
- Current CEO: Dan Schulman
PayPal is a digital payments platform that offers online transactions and money transfers worldwide. Empowering individuals and businesses with seamless, secure financial infrastructures, it remains an impactful player in the sphere of digital commerce. PayPal Zettle, the point-of-sale solution, is an extension directed at brick-and-mortar businesses, offering affordable, easy-to-use, and flexible payment systems that blend well with the existing PayPal services.
2. Stripe
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: September 2011
- Founders: Patrick Collison, John Collison
- Headquarters: San Francisco, California, United States
- Area Served: Worldwide
- Current CEO: Patrick Collison
Stripe is a technology company specializing in online payment processing. Known for its remarkable versatility, Stripe offers comprehensive APIs and professional services to customize payment processes to individual business needs. Primarily noted for eCommerce and online business operations, it also integrates well with mobile applications and other digital platforms, making it a suitable Square competitor.
3. Adyen
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 2006
- Founders: Pieter van der Does, Arnout Schuijff
- Headquarters: Amsterdam, Netherlands
- Area Served: Worldwide
- Current CEO: Pieter van der Does
Adyen is a global payment company that supports businesses in creating frictionless commerce experiences. Backed by smart technology, Adyen can process payments from almost anywhere in the world, catering to a diverse range of industries and business sizes. Its expansive set of payment methods and unified commerce capabilities make it a strong contender in the market.
4. Shopify
- Product Type: E-commerce platform
- Industry: E-commerce
- Founded Date: 2004
- Founders: Tobias Lütke, Daniel Weinand, Scott Lake
- Headquarters: Ottawa, Ontario, Canada
- Area Served: Worldwide
- Current CEO: Tobias Lütke
Shopify is an eCommerce platform that offers a comprehensive suite of services including online storefronts, payment processing, marketing, and shipping. Focusing on the needs of small to medium businesses, Shopify facilitates the complete cycle of online selling operations. It competes with Square in the realm of omnichannel retailing, delivering user-friendly interfaces and business-friendly pricing.
5. Worldpay
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 1989
- Founders: Nick Ogden
- Headquarters: London, United Kingdom
- Area Served: Worldwide
- Current CEO: Philip Jansen
WorldPay is a payment processing company that handles transactions for businesses of all sizes. Offering an array of merchant services, WorldPay addresses the payment needs of both online businesses and physical stores. With a turnover of trillions of dollars, it remains a significant competitor in the world of financial transactions and overlaps with Square’s market.
6. Clover
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 2010
- Founders: Leonard Speiser, John Beatty, Mark Schulze
- Headquarters: Sunnyvale, California, United States
- Area Served: United States
- Current CEO: John Beatty
Clover is a POS (Point of Sale) system provider that delivers an array of devices and software solutions. Designed to cater to the unique business requirements of its customers, Clover offers customizable hardware and software suites for invoicing, inventory management, and other crucial business operations. It represents a direct competitor to Square in providing tangible POS solutions.
7. Intuit (QuickBooks Payments)
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 1983
- Founders: Scott Cook, Tom Proulx
- Headquarters: Mountain View, California, United States
- Area Served: Worldwide
- Current CEO: Sasan Goodarzi
Intuit, the parent company behind QuickBooks Payments, is a financial software company offering revolutionary solutions for personal finance management, accounting, and tax preparation. QuickBooks Payments, their proprietary payment processing system, is fully integrated with the QuickBooks accounting software, simplifying transaction processes for businesses. Standing shoulder to shoulder with Square, it caters to a similar demographic of SMBs and solo entrepreneurs.
8. Braintree
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 2007
- Founders: Bryan Johnson
- Headquarters: Chicago, Illinois, United States
- Area Served: Worldwide
- Current CEO: Juan Benitez
Braintree is a payments platform that provides businesses with the ability to accept payments online or within their mobile application. It’s owned by PayPal, and therefore, it benefits from the strong financial backing and established reputation of its parent company. Braintree provides a range of payment gateway essentials such as recurring billing, credit card storage, and fraud detection. It’s a real globetrotter with its services available in over 45 countries and with the capability to accept payments in over 130 currencies globally.
9. Authorize.Net (Visa)
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 1996
- Founders: Jeff Knowles
- Headquarters: San Francisco, California, United States
- Area Served: Worldwide
- Current CEO: Cyndie Martini
Authorize.Net is a well-established payment gateway that allows small to medium-sized businesses to accept credit card and electronic check payments through their websites. It has the financial giant, Visa, as its parent company, ensuring a robust and secure payment experience. Authorize.Net is known for its simplicity, being extremely user-friendly without compromising on any of the necessary payment features that businesses need.
10. Global Payments
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 2000
- Founders: Unknown
- Headquarters: Atlanta, Georgia, United States
- Area Served: Worldwide
- Current CEO: Cameron Bready
Global Payments is a comprehensive payment processing service catering to businesses of all sizes across the globe. It offers a variety of services including payment processing solutions, advanced analytics, and customer insights. Known for a broad scope of services designed to help companies manage and streamline their operations, Global Payments stands out with its scalability and versatile offerings that fit differing business needs.
11. First Data
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 1971
- Founders: Unknown
- Headquarters: Atlanta, Georgia, United States
- Area Served: Worldwide
- Current CEO: Frank Bisignano
First Data, now known as Fiserv after a merger, is a massive player in the finance industry that provides various payment solutions for businesses. It serves millions of businesses worldwide, ranging from small startups to the world’s largest corporations. By providing comprehensive payment solutions including point-of-sale systems and e-commerce, First Data upholds a reputation for facilitating smooth business transactions.
12. Lightspeed
- Product Type: Point of sale software
- Industry: Retail technology
- Founded Date: 2005
- Founders: Dax Dasilva
- Headquarters: Montreal, Quebec, Canada
- Area Served: Worldwide
- Current CEO: Dax Dasilva
Lightspeed is a cloud-based point-of-sale (POS) system perfect for retailers and restaurateurs who require a robustly featured, scalable system. Not just limiting its services to payment solutions, Lightspeed also offers elements of business management, including inventory management, customer preferences, sales, and more. With an emphasis on customer inclusivity, Lightspeed provides a complete service package, making it a competent competitor in the payment industry.
13. SumUp
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 2011
- Founders: Daniel Klein, Marc-Alexander Christ
- Headquarters: London, United Kingdom
- Area Served: Worldwide
- Current CEO: Marc-Alexander Christ
SumUp is a mobile payment company providing businesses with portable and straightforward payment solutions. With its low-cost card readers that integrate with a convenient mobile app, SumUp is perfect for small businesses, freelancers, or any business that often operates on the go. SumUp is gaining popularity for its simplicity and cost-effective pricing, making it a sturdy competitor for Square.
14. Amazon Pay
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 2007
- Founders: Jeff Bezos
- Headquarters: Seattle, Washington, United States
- Area Served: Worldwide
- Current CEO: Patrick Gauthier
Amazon Pay is a financial service offered by the e-commerce giant, Amazon. It enables Amazon’s vast customer base to pay at millions of merchant sites using the details stored in their Amazon account. Amazon Pay is designed to simplify and hasten the online buying process, offering a secure and fast checkout at numerous online stores. Leveraging the immense credibility and customer trust of Amazon, it is a formidable competitor in the online payment service providers’ league.
15. Google Pay
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 2015
- Founders: Sundar Pichai
- Headquarters: Mountain View, California, United States
- Area Served: Worldwide
- Current CEO: Caesar Sengupta
Google Pay is a digital wallet platform introduced by Google to streamline financial transactions including peer-to-peer payments, purchases made online, and tap-to-pay purchases in physical stores. More than just a payments app, Google Pay aims to create seamless, contactless payment experiences with heightened security features such as strong encryptions and multi-layered authentication. In addition, it allows users to consolidate their loyalty/savings cards and tickets, providing an all-in-one financial management platform.
16. Apple Pay
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 2014
- Founders: Tim Cook
- Headquarters: Cupertino, California, United States
- Area Served: Worldwide
- Current CEO: Tim Cook
Apple Pay serves as Apple Inc.’s mobile payments system, permitting transactions to take place directly from Apple devices like iPhones and iPads. Designed as a secure and private method to pay in stores, within apps, and online, it has found favor with businesses and individuals looking for quick, easy, and safe payment options. This easy-to-use digital wallet has fast contactless payment capabilities, includes secure tokenization features, and does not store card numbers on the user’s device or on Apple’s servers.
17. Venmo
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 2009
- Founders: Andrew Kortina, Iqram Magdon-Ismail
- Headquarters: New York City, New York, United States
- Area Served: United States
- Current CEO: Darrell Esch
Venmo is a renowned digital wallet and social payments service owned by PayPal. It is best known for enabling rapid and straightforward cash transactions between individuals, often used in scenarios such as splitting dinner bills or shared housing costs. Its standout feature lies in its social feed, where users can share their transactions (sans amounts) with friends, infusing a social aspect into the typically mundane task of sending and receiving money.
18. Toast
- Product Type: Point of sale software
- Industry: Restaurant technology
- Founded Date: 2011
- Founders: Aman Narang, Steve Fredette, Jonathan Grimm
- Headquarters: Boston, Massachusetts, United States
- Area Served: United States
- Current CEO: Chris Comparato
Toast is a comprehensive point-of-sale (POS) system custom-built for the foodservice industry. Beyond credit card processing, Toast offers a robust suite of cloud-based software designed to aid restaurants in managing everything from online ordering and tableside ordering to employee scheduling and reporting analytics. The company’s tailored solutions help restaurateurs streamline operations and improve overall dining experience which sets it apart from its competitors.
19. Helcim
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 2006
- Founders: Nicolas Beique
- Headquarters: Calgary, Canada
- Area Served: Worldwide
- Current CEO: Nicolas Beique
Helcim is a merchant services provider that has carved out a niche for its clear, transparent pricing and high-quality customer service. In lieu of long-term contracts and hidden fees, they adopt a cost-plus pricing model, making it a preferred choice for businesses seeking predictable payment solutions. From retail and restaurants to service businesses and e-commerce, Helcim caters to a wide array of industries with mobile, online, and in-person payment capabilities.
20. Payment Depot
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 2013
- Founders: Robert Maynard, Taylor Burton
- Headquarters: Orange, California, United States
- Area Served: United States
- Current CEO: Robert Maynard
Payment Depot is a credit card processing company that prioritizes member-focused pricing and transparency. It offers a subscription-based pricing model, where merchants pay a monthly fee plus interchange costs, thus cushioning small to medium-sized businesses from exorbitant transactional fees. With a commitment to no hidden fees, locked contracts, or termination fees, Payment Depot is recognized for its merchant-friendly payment solutions.
21. Elavon
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 1991
- Founders: U.S. Bancorp
- Headquarters: Atlanta, Georgia, United States
- Area Served: Worldwide
- Current CEO: Jamie Walker
Elavon is a well-established merchant services provider, offering a wide spectrum of payment processing solutions to businesses of all sizes across 30 countries. From simple credit card processing to mobile payments and sophisticated reporting tools, Elavon presents an extensive suite of tools configured to meet specific business needs. They are particularly lauded for their high-quality customer service and industry-specific payment solutions, particularly in the hospitality field.
22. Gravity Payments
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 2004
- Founders: Dan Price
- Headquarters: Seattle, Washington, United States
- Area Served: United States
- Current CEO: Dan Price
Gravity Payments is a credit card processing company that emphasizes transparent pricing, personalized service, and ethical business practices. They aim to simplify the often complex world of card payments with straightforward pricing, hands-on customer support, and streamlined solutions. Its commitment extends to customizing solutions to individual business needs, with systems compatible with online, mobile, and face-to-face transactions.
23. National Processing
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 2017
- Founders: Unknown
- Headquarters: Miami, Florida, United States
- Area Served: United States
- Current CEO: Unknown
National Processing is a payment processing company that is well established in the field of payments and financial tech. Touted for its ability to offer efficient and reliable options for businesses of all size, the company is recognized for its lower processing fees. National Processing is particularly popular among small businesses. They provide high-quality POS systems, online payment capabilities, ACH and check processing and efficient customer service to facilitate day-to-day transactions.
24. CDGcommerce
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 1998
- Founders: Chris West
- Headquarters: Chesapeake, Virginia, United States
- Area Served: United States
- Current CEO: Chris West
CDGcommerce is a merchant service provider experienced in delivering simple, secure and affordable payment solutions. The company boasts of good customer service and low transaction costs, making it an appealing choice for many businesses. CDGcommerce offers mobile payment processing, online payment gateways, and eCommerce solutions, which ensure smooth operations for online and brick-and-mortar businesses alike.
25. Ingenico
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 1980
- Founders: Jean-Jacques Poutrel
- Headquarters: Paris, France
- Area Served: Worldwide
- Current CEO: Nicolas Huss
Ingenico is a global leader in seamless payment solutions. Offering an extensive range of services from in-store to online and mobile commerce, Ingenico facilitates businesses to accept nearly any form of electronic payment. The company’s array of POS terminals and software assure an ease of transaction while its secure payment systems reduce risk exposure.
26. Vantiv
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 1971
- Founders: Fifth Third Bank
- Headquarters: Cincinnati, Ohio, United States
- Area Served: Worldwide
- Current CEO: Charles Drucker
Vantiv now rebranded as WorldPay, is a comprehensive payment processing solutions provider. It designs payment processing systems suitable for a wide range of businesses, including financial institutions, retailers, and small businesses. The company offers a range of products from payment terminals to payment gateway for online businesses, ensuring a convenient and seamless payment experience.
27. Paymentech
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 1985
- Founders: Unknown
- Headquarters: Dallas, Texas, United States
- Area Served: Worldwide
- Current CEO: Unknown
Paymentech, now known as J.P. Morgan Chase’s Merchant Services, is a recognized payment gateway and merchant acquiring company. Providing online businesses with the ability to accept credit cards, debit cards, and mobile payments, Paymentech ensures a seamless checkout experience for customers. Their fraud detection and multiple currency capabilities make it a solid choice for businesses looking to broaden their payment options.
28. CardConnect
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 2006
- Founders: Brian Shanahan
- Headquarters: King of Prussia, Pennsylvania, United States
- Area Served: United States
- Current CEO: Mark Passifione
CardConnect is a fast-growing payment processing company focused on simplifying payments for businesses of all sizes. With its proprietary platform, it offers advanced security features, real-time transaction management and seamless integrations to businesses. CardConnect’s solutions ensure transactions are managed smoothly and securely, promoting customer trust.
29. BlueSnap
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 2001
- Founders: Ralph Dangelmaier
- Headquarters: Waltham, Massachusetts, United States
- Area Served: Worldwide
- Current CEO: Ralph Dangelmaier
BlueSnap is a global payment solutions provider that helps retailers in handling payments from anywhere, in any currency. Their wide range of supported currencies and payment types make them a popular choice for businesses operating in multiple nations. Offering an all-in-one payment platform for eCommerce, mobile, and standard credit card processing, BlueSnap aims to simplify the payment process.
30. Nexi
- Product Type: Payment processing
- Industry: Financial technology
- Founded Date: 2015
- Founders: Merger of ICBPI and Nets Holding
- Headquarters: Milan, Italy
- Area Served: Europe
- Current CEO: Paolo Bertoluzzo
Nexi is an Italy-based fintech company providing a broad range of payment acceptance solutions. The company caters to both physical shops and online businesses by offering point-of-sale terminals, online payment gateways and advanced data analytics. Nexi promises secure transactions, efficient customer service, and a user-friendly interface that supports an array of payment methods.
These were all the competitors of Square. If you know any other competitors, please do write in the comments below.
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