By Paul Martinez
/ September 26, 2022 March 16, 2023
Table of Contents
If you’re searching for an affordable and efficient POS system for your business, you’ll probably have to choose between two popular options: SumUp and Square.
On the surface, these solutions look like they’d be great additions to almost any business. However, when you dig deeper, you’ll see that they aren’t created equally. Each company offers unique features and services to make things even more challenging. So, how do you know which of these solutions is right for you?
Luckily, we’ve got you covered. In this article, we’ll compare the two most popular POS solutions on the market: SumUp vs. Square. Let’s dive in and see if one stands out above the other.
Our Pick
We picked Square as our winning payment solution because of its functionality, security, and versatility. However, Square is a much more robust solution, offering many features beyond what SumUp offers. While SumUp offers a single solution, Square takes a step further to provide a business managing solution in the eCommerce industry.
Overall, Square offers more software and hardware options compared to SumUp. The POS system is very vast and efficient.
About SumUp
SumUp is a European fintech company that provides business owners with a mobile point-of-sale (POS) solution that allows them to accept card payments anywhere, anytime.
The SumUp payment solution is best for businesses that need more than basic card readers. The solution offers many features, including a robust API, various integrations, and a customer loyalty program.
If you’re looking for a solution that offers a ton of features, SumUp would be a great option. This is because it allows small businesses to accept credit cards and contactless payments with just a few taps.
The SumUp app works on any smartphone and tablet, including iPhones and Android devices. It supports contactless payments and can be used for online and offline transactions.
The SumUp POS device is a portable card reader that connects directly to your smartphone or tablet via Bluetooth or Wi-Fi.
Features
Ease of Use: SumUp is extremely easy to use. The solution only takes a few minutes to set up and comes with a detailed guide to walk you through the setup process. Once your account is set up, you can use the solution on an unlimited number of devices.
Functionality: SumUp is a very robust solution. The solution has many features, including an API, payment links, recurring billing, customer loyalty programs, customer analytics, and more. The solution also offers a wide range of integrations with third-party services, including Shopify, Square, and more.
Mobile: SumUp is a mobile point of sales system for small businesses. It offers a free plan, which includes a basic POS system or terminal, and more advanced plans with more features.
Free Plan: The free plan includes the basic POS terminal or POS system and lets you manage your business from anywhere. You can accept payments online, on an offline device, or at an event. You can also provide receipts to your customers via email or SMS.
Online Store: SumUp has an online store where you can sell products and services using your smartphone or tablet. The online store works with Paypal, Stripe, and other payment gateways to ensure that your transactions are safe and secure.
In-Store POS System: You can use your store’s SumUp POS system or terminal to accept payments from customers directly at the counter. It comes with a scanner, so you don’t have to worry about having one handy when someone wants to pay for something.
Pros
Affordable pricing
No monthly plans
Free virtual terminal
Low processing fees
No hidden fees
Online store
Easy to use
Free plan
No early termination fees
Cons
Narrow software options
Limited add-ons
About Square
Square was founded by Jack Dorsey, who also founded Twitter and mobile payments company, Stripe. Its headquarter is in San Francisco, California.
The first thing you need to know about Square is its payment processing service or POS system. This means that rather than having to pay for and install new hardware, you can use Square’s app to process credit card transactions on the go. The company offers Square card readers to merchants who want to accept payments using smartphones or tablets. Square also provides invoicing tools and analytics.
The solution is extremely easy to use and offers the basic features you’d expect from a payment processing solution. If you’re looking for a super streamlined solution that’s easy to set up and use, Square is a great option.
There are no monthly fees or minimum charges for using the Square service.
Furthermore, if you are into eCommerce, Square offers many tools to manage small and growing businesses.
Features
Square Register App: This is how you accept payments from customers. You’ll need to download the app from Apple’s App Store or Google Play and set up an account with Square. Once done, you can start accepting payments with the Square terminal using your smartphone or tablet anytime during your business day. Also, with the Square stand, you can make your iPad a POS system. With Square stand or other Square features, you are good to go.
Free Card Reader: Free Square card readers are offered to those who sign up for a business account. However, if you want to use card readers with a personal account, it will cost you a monthly fee.
Secure Payment Methods: Payments made with Square are fast and secure. Visa and MasterCard also power them. They accept major credit cards such as Visa, American Express, Mastercard, and Discover. The payment links are also very secure during online and remote payments.
Fast Payments: When you accept card payments in person using Square’s contactless card readers, you’ll see the customer’s bank details as soon as the transaction is complete. No need to wait for them to mail in their payment first. You’ll also receive their bank details within 24 hours via email if they pay by phone or online (or 48 hours if they use cash). If you prefer not to receive this information, you can set up an Instant Deposit. With this, customers pay directly into your bank account instead of sending checks or cash through the mail. The payment links are quick and efficient.
Simple Invoices: If you’re starting or don’t want to get bogged down with accounting details, Square has simple invoices that allow you to track sales right away. You can send them directly to your customers via email or text. These invoices also include tax information so you can avoid getting hit with extra costs when filing taxes at the end of each quarter or year. However, this depends on how often you file.
Pros
No monthly fees
Affordable transaction fee
Rich features
Multiple hardware options
Easy to use
Strong battery life
Expandable system
Approves CBD vendors
Ecommerce solution
Cons
Not compatible with Windows tablet/desktop
Similarities Between SumUp and Square
If you’re looking for a way to accept customer payments, SumUp and Square are worth a look. Both offer a variety of features and services that can help your business grow.
Here’s a look at some similarities between SumUp and Square:
No Monthly Fees
None of them charge extra for foreign or premium cards, and neither do they charge a monthly fee. Also, they have an affordable transaction fee.
However, the add-on features that Square offers will attract monthly fees.
In addition, both companies offer free plans with limited features, but you’ll have to pay for additional features like EMV chip support or 3D Secure support.
System Security
Both companies offer EMV chip and PIN technology, which is more secure than magnetic strip cards because it requires verification by PIN code rather than just a signature or card number. In addition, they offer the ability to accept payments via NFC technology. This ensures that the card readers and payment links are secure.
Payment Processing Fees
Both companies charge merchants who use their services 2.5% per transaction. This is a little higher than some other processors, but it’s still reasonable compared to what you might be paying with other options.
Set-Up Process
The setup process for both companies is relatively simple. However, SumUp offers a few more options than Square offers when setting up your account initially.
Differences Between SumUp and Square
Now that we’ve compared SumUp and Square let’s look at the key differences between these two solutions. Let’s look at how SumUp vs. Square compare functionality, price, payment systems, ease of use, and customer support.
Functionality
SumUp is an easy-to-use program that provides a single solution. It offers an easy-to-use mobile app that enables a business to take orders, track sales, and collect payments, all from a single EMV terminal and POS system.
However, although Square offers several POS systems and payment processing tools, the free system has a workable method for managing a simple business. Business owners can manage their POS system like a conventional register setup, thanks to the hardware add-ons.
Pricing
While Square Reader for Contactless and Chip costs $49 and includes a complimentary magstripe reader (extra ones are $10 each), SumUp Plus is only $35.
The standalone terminals cost $99 for SumUp Solo and $299 for Square Terminal. SumUp Pro, a standalone card reader, is an additional option and costs $69.
Furthermore, per swipe, chip dip, or contactless tap through any Square terminal costs 2.6% + 10c. SumUp levies a flat fee of 2.75%.
Accepted Payment Methods
Payment links are vast as Square accepts the following credit card companies: American Express, MasterCard, UnionPay, Discover, Visa, and JCB. You can accept payments made using Masterpass, Apple Pay, and Google Pay through Square when it comes to mobile wallets.
American Express, Mastercard, VPay, Maestro, and Visa are just a few credit card companies that SumUp lets your clients use to make purchases. Your customers can make payments using Google Pay and Apple Pay for mobile wallets.
Customer Support
Although both platforms provide phone, email, and chat assistance, Square requires a company to go above and above to get someone on the phone. In contrast to SumUp, Square provides a robust knowledge library for self-service, Twitter help, and a discussion forum.
Final Thoughts
All in all, SumUp and Square are great options for businesses of all sizes. However, if we had to choose one, we’d recommend the Square payment solution over SumUp. This is because Square offers many features and is extremely easy to use. SumUp is still a great option and a good choice for businesses that need a super streamlined solution.
Paul Martinez is the founder of EcomSidekick.com. He is an expert in the areas of finance, real estate, eCommerce, traffic and conversion.
Join him on EcomSidekick.com to learn how to improve your financial life and excel in these areas. Before starting this media site, Paul built from scratch and managed two multi-million dollar companies. One in the real estate sector and one in the eCommerce sector.
