When comparing Square vs Payanywhere, you’re looking at two distinct approaches to multi-industry point-of-sale technology. Square, rated 4.7/5, offers Small retail shops, food trucks, service businesses, and startups. Meanwhile, Payanywhere, rated 3.9/5, provides Small businesses wanting fast funding. Let’s dive into the details to help you make an informed decision.
Quick Comparison: Square vs Payanywhere
| Feature | Square | Payanywhere |
|---|---|---|
| Category | Multi-Industry | Multi-Industry |
| Starting Price | Free (2.6% + 10¢ per transaction) | $49.95 (terminal) + 2.69% per transaction |
| Rating | 4.7/5 | 3.9/5 |
| Target Business | Small Business | Small Business |
| Pricing Model | Freemium | Transaction-based |
| Free Trial | No | No |
| Free Version | Yes | No |
| Best For | Small retail shops, food trucks, service businesses, and startups | Small businesses wanting fast funding |
Square Overview
Square is a comprehensive payment and point-of-sale platform that helps businesses of all sizes accept payments, manage inventory, and grow their business. Known for its iconic card reader and user-friendly interface.
Square is offered by Block, Inc. (formerly Square, Inc.) (founded 2009) based in San Francisco, CA. The system focuses on Retail, Restaurants, Services, Appointments.
Key Features:
- Free POS app
- Inventory management
- Employee management
- Customer directory
- Analytics dashboard
- Online ordering
Payanywhere Overview
Payanywhere offers mobile payment solutions with card readers and POS apps. Features next-day funding, invoicing, and business management tools for small businesses.
Payanywhere is offered by North American Bancard (founded 2011) based in Troy, MI. The system focuses on Retail, Service, Mobile.
Key Features:
- Mobile POS
- Card Readers
- Invoicing
- Next-day Funding
- Inventory
- Analytics
Feature Comparison
Square Features:
- Free POS app
- Inventory management
- Employee management
- Customer directory
- Analytics dashboard
Payanywhere Features:
- Mobile POS
- Card Readers
- Invoicing
- Next-day Funding
- Inventory
When comparing features, Square stands out with No monthly fees, while Payanywhere differentiates itself with Next-day funding. Your choice should depend on which features align better with your specific business requirements.
Pricing Comparison
| Pricing Aspect | Square | Payanywhere |
|---|---|---|
| Starting Price | Free (2.6% + 10¢ per transaction) | $49.95 (terminal) + 2.69% per transaction |
| Pricing Model | Freemium | Transaction-based |
| Price Range | Budget | Budget |
| Free Trial | Not available | Not available |
| Free Version | Yes | No |
Square offers a free version, which is great for testing or small operations. Consider the total cost of ownership including hardware, processing fees, and add-on modules when making your decision.
Pros and Cons
Square
Pros:
- No monthly fees for basic plan
- Easy setup and use
- Excellent mobile app
- Strong ecosystem of add-ons
- Transparent pricing
Cons:
- Transaction fees can add up
- Limited customization
- Account stability concerns for high-risk businesses
Payanywhere
Pros:
- Next-day funding
- Free mobile app
- Multiple hardware options
- Invoicing included
Cons:
- Mixed customer reviews
- Transaction fees vary
- Contract requirements possible
Who Should Choose Square?
Square is ideal for Small retail shops, food trucks, service businesses, and startups. The system is particularly well-suited for Retail, Restaurants, Services, Appointments.
However, Square may not be the best fit for Large enterprises needing deep customization.
Who Should Choose Payanywhere?
Payanywhere is ideal for Small businesses wanting fast funding. The system is particularly well-suited for Retail, Service, Mobile.
However, Payanywhere may not be the best fit for Large operations needing advanced POS.
Our Recommendation
Both Square and Payanywhere are solid POS solutions, but they excel in different areas. Choose Square if you’re Small retail shops, food trucks, service businesses, and startups. Choose Payanywhere if you’re Small businesses wanting fast funding. Square has a higher user rating (4.7 vs 3.9). Also, choose Square if you want to start with a free version. We recommend trying demos or free trials of both systems before making your final decision.