The lower cost solution will depend primarily on whether you have fewer large transactions (in which case, the lower percentage from Square may be the better fit) or many smaller transactions. So far, PayPal Here has not indicated that they will add a transaction fee. However, in autumn of 2019, Square did away with it’s flat 2.75% rate in favor of a 2.6% + $0.10 rate. Until PayPal Here, competing mobile solutions relied on traditional merchant accounts often paired with a third-party mobile application like ROAMpay where transaction fees can range upwards of $0.25. Let’s take a look at how the two companies compare on key areas such as pricing, customer service, equipment, and more.Ī main competitive advantage that has allowed Square to hold the top spot in the mobile processing market has been the company’s ability to offer a flat processing rate with no credit card transaction fee. With PayPal Here featuring live customer support, immediate funding at no additional charge, and support for multiple payment channels including free check acceptance, it seems as though Square has some catching up to do despite the company’s rapid growth. We’re leaving this comparison here for historical purposes, but it will no longer be updated and PayPal Here is no longer available. NOTE: In April 2023, PayPal Here was discontinued and became PayPal Zettle or Zettle by PayPal. So, which one is right for your business? Here’s how the two compare. But there are other factors that make Square a good choice, leaving PayPal behind.
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