Merchant: “I am using Square for payment processing.”

Ok. Thanks. Square is great. They’re one of the best options for new businesses because they have an all-in-one system and no monthly charge.

Square makes the most sense until you break about $5,000 in credit card sales a month. After that, we recommend alternatives like Moneris, TD, Global or Clover. At the $5,000 mark, the ‘no monthly cost’ of Square and their higher rate starts to work in reverse.

Square charges 2.65% per credit card transaction. That is about 1% more than the average Visa and Mastercard cost. Are you doing $5,000 in credit card sales or more per month?