Table of Contents

• Difference Between Stripe vs Square in Terms of Features
• Comparison of Pricing: Stripe vs Square
• Advantages and Disadvantages: Stripe vs Square
• Which One is Best for WordPress eCommerce?
• Conclusion

 

Choosing the right payment processor is important for WordPress eCommerce. A good payment system makes transactions easy and secure. Additionally, it enhances the client experience.

Two well-liked payment methods for internet companies are Stripe vs Square. Both offer powerful tools for processing payments. They also integrate well with WordPress and WooCommerce. But they serve different types of businesses.

Stripe is well known for its versatility and advanced features. It is excellent for companies that want personalization. Square, on the other hand, is simple and beginner-friendly. It is perfect for small businesses and in-person sales.

Square and Stripe will be compared in this post for WordPress eCommerce. We’ll look at features, price, security, and usability. By the end, you’ll be able to tell which one is most effective for your business.

Stripe: What is it? 

Stripe is an online payment processor designed for businesses of all sizes. It allows websites to accept credit cards, digital wallets, and bank transfers. Many online stores and large companies use Stripe for payments.

Developers should consider Stripe. It has a strong API that allows custom payment solutions. Businesses can create unique checkout experiences. This is useful for companies with special payment needs.

Stripe supports international payments in multiple currencies. It also provides fraud protection tools to keep transactions safe. Many WordPress plugins, like WPForms and WooCommerce  support Stripe.

However, Stripe is not the easiest option for beginners. Setting it up may require some technical skills. Businesses without developers may find it harder to use.

Square: What is it? 

Square is a payment processor that works both online and offline. It is popular among small businesses, especially those with physical stores. It offers an easy-to-use system with a free point-of-sale (POS) solution.

Unlike Stripe, Square is built for businesses that sell in person. It comes with a free POS app that turns devices into a payment terminal. However, it also supports online payments through WordPress and WooCommerce.

Square is easy to set up and use. It does not require technical knowledge. Business owners can accept payments quickly without extra setup.

One downside is that Square is not as flexible as Stripe. It lacks advanced customization options. Additionally, it is not the ideal option for global companies. Square mostly caters to companies in particular nations.

Difference Between Stripe vs Square in Terms of Features

Payment Processing

Stripe and Square both allow businesses to accept online payments. However, they handle transactions differently.

Stripe is designed for online payments. For eCommerce companies, it works well. It supports credit cards, digital wallets, and bank transfers. It also allows businesses to set up recurring payments.

Square is mainly for businesses with both online and physical stores. It offers a point-of-sale (POS) system for in-person payments. Square also allows online payments, but it is not as flexible as Stripe.

Stripe is better for businesses that sell online only. Square is great for those that need both in-person and online payments.

Integration of WordPress 

Both Stripe and Square work with WordPress e-commerce platforms. They work with the popular WooCommerce plugin for WordPress.

Stripe has deep integration with WooCommerce, WPForms, and Easy Digital Downloads. It allows businesses to add a customized checkout experience. Developers can create unique payment flows using Stripe’s API.

Square also integrates with WooCommerce and other WordPress tools. It is easy to connect Square to an online store. However, it offers fewer customization options than Stripe.

If you need a simple WordPress payment setup, Square is a good choice. Stripe is superior if you want personalised payment options.

Simple Usage 

The user experience varies between Square vs Stripe. One is easier for beginners to use, while the other is more technical.

Stripe offers advanced payment tools, but setup can be complex. It requires some coding knowledge to use all its features. The dashboard is detailed, but beginners may find it overwhelming.

Square is more user-friendly. It has a simple interface and quick setup. Business owners can start accepting payments in minutes. No coding skills are required.

If you are comfortable with technology, Stripe is a great choice. If you prefer a simple, ready-to-use system, Square is better.

Accepted Payment Options 

Square and Stripe both accept a variety of payment options. However, Stripe offers more options for global businesses.

Stripe supports:

• Debit and credit cards
• Digital wallets (such as Google Pay and Apple Pay)
• Bank transfers (ACH payments)
• Buy Now, Pay Later options (Affirm, Klarna, Afterpay)
• Payments made internationally in a variety of currencies

Square supports:

• Debit cards and credit cards
• Payments using mobile devices (Apple Pay, Google Pay)
• Point-of-sale (POS) transactions
• Restrictions on foreign payments

Stripe is better for businesses with global customers. Square is great for businesses that focus on local sales.

Comparison of Pricing: Stripe vs Square

Stripe Pricing

Stripe’s pricing is simple and includes flat transaction charges. Businesses pay 2.9% + 30¢ for every online transaction. Monthly fees are free for basic services.

Additional costs may apply for extra features:

• There is an extra 1% charge for payments made internationally.
• $15 is charged for each contested transaction.
• Advanced fraud protection (Stripe Radar): Extra fee applies

Stripe is cost-effective for businesses processing large volumes of payments.

Square Pricing

Square also levies a fixed fee for each transaction. Payments made online cost 2.9% + 30¢ per transaction, just like with Stripe.

However, Square offers free POS software for in-person sales. It is free for businesses to use.

Extra costs may apply for:

• Premium POS features (inventory tracking, payroll)
• Chargebacks (cost varies)
• Custom pricing for high-volume businesses

Square is a great choice for businesses that accept both online and in-store payments.

Which One Offers Better Value?

The best choice depends on your business type.

• Stripe is superior if you solely require online payments. It offers additional customization possibilities and international payment methods.
• If you sell both online and in-store, Square is better. It includes a free POS system and easy setup.
• Stripe provides more currency alternatives for businesses operating internationally.
• For small businesses, Square is easier and more affordable.

Advantages and Disadvantages: Stripe vs Square

Each payment processor has benefits and drawbacks. A basic breakdown may be seen below.

Pros of Stripe

• Ideal for internet companies that want unique payment options.
• Supports many currencies for global transactions.
• Advanced fraud protection with Stripe Radar.
• Flexible API for developers to build custom checkout experiences.

Cons of Stripe

• Requires technical knowledge to set up advanced features.
• No built-in POS system for in-person sales.
• Chargeback fees can be high for some businesses.

Pros of Square

• Easy to set up with a beginner-friendly interface.
• Includes a free POS system for in-store payments.
• Phone support is available for all users.
• Built-in chargeback protection for eligible transactions.

Cons of Square

• Limited customization compared to Stripe.
• Fewer possibilities for multinational companies to make payments.
• Not as many fraud protection tools as Stripe.

Which One is Best for WordPress eCommerce?

Your business demands will determine which of Stripe and Square is best for you. Both offer strong payment solutions, but they serve different purposes.

Stripe is great for online only businesses that need flexibility. It supports many payment methods and works well for global sales. It also has advanced fraud protection to keep transactions safe. However, Stripe requires technical knowledge for setup and customization.

Square is best for small businesses that sell online and in-store. It offers a free POS system for easy in-person payments. Square is simple to set up and does not need technical skills. However, it has fewer customization options than Stripe.

If you run a large online store, Stripe is the better choice. If you sell both online and in a physical store, Square is the better option.

Conclusion

Both Stripe and Square are excellent for WordPress eCommerce. They support companies in safely and effectively accepting payments.

Stripe is best for:

• Businesses that sell online only.
• Companies that need advanced payment features.
• stores that serve clients from throughout the world.

Square is best for:

• Small businesses with physical and online stores.
• Users who need an easy setup.
• Businesses that want a free POS system.

Prior to making a decision, consider your business strategy and payment requirements. The best option will depend on your objectives, although both systems provide excellent options.