Stripe vs Square: the ultimate 2025 comparison guide for online payments

Choosing the right online payment platform is an important decision for any business, particularly as digital commerce continues to grow in complexity and reach. Two of the most widely used platforms are Stripe and Square, each offering unique features, pricing models, and support structures. While developers and global businesses favour Stripe for its customisation and flexibility, Square is often the platform of choice for local retailers and small businesses seeking simplicity.

This comprehensive 2025 comparison will help you understand the strengths and limitations of Stripe vs Square, explore how they serve different types of businesses, and introduce Airwallex as a compelling alternative for those looking to streamline global payments and financial operations.

What is Stripe?

Stripe is a payment processing platform designed for businesses that require highly customisable payment solutions. Founded in 2010, Stripe offers a suite of APIs and tools for online payments, subscriptions, fraud prevention, and financial reporting. It supports more than 135 currencies and is widely adopted by global eCommerce companies, SaaS providers, and online marketplaces.

Key features include:

• Developer-centric APIs and SDKs for full payment control

• No-code payment tools

• Multi-currency support and dynamic currency conversion

• Settlements in AUD, USD or NZD

• Tools for recurring billing and invoicing

• Advanced data reporting and analytics

• Global reach with support for 125+ of payment methods

Stripe is best suited to businesses with internal technical resources that require scalable, custom payment infrastructure.

What is Square?

Square is a point-of-sale and payment processing platform tailored to small and medium-sized businesses. Founded in 2009, Square provides an ecosystem of hardware and software designed to help merchants accept payments in person and online with minimal setup or technical expertise. It is widely used in retail, hospitality, and service industries.

Key features include:

• Integrated POS software and card reader hardware

• Built-in online store and invoicing tools

• Team management and employee permissions

• Flat-rate pricing model with no setup costs

• Integration with Square Banking for simplified business finance

Square is designed to help businesses start accepting payments quickly, with built-in tools and out-of-the-box readiness that make setup simple and fast.

Stripe vs Square: a head-to-head comparison

The table below outlines the core features and functionality of Stripe and Square.

This information is correct as of July 2025. 

Stripe fees explained

Stripe offers a transparent, pay-as-you-go pricing structure with no setup fees, monthly charges, or lock-in contracts. Fees are charged per transaction, with additional costs for optional services like billing tools, fraud protection, and platform integrations.

Examples:

• Domestic Visa/Mastercard: 1.7% + A$0.30 per transaction

• International cards: 3.5% + A$0.30 per transaction (includes 1.5% currency conversion fee)

• Stripe Terminal (POS): 1.7% + A$0.10 per in-person transaction, 3.5% + A$0.10 for international cards

Stripe’s modular approach allows businesses to customise its setup based on specific needs. However, this can lead to variability in monthly costs depending on the features selected. Comparing Square fees vs Stripe fees, Stripe is typically more flexible for online-first and international businesses.

Square fees explained

Square offers a straightforward pricing model that caters to both in-person and online sellers. It has no monthly fees for basic services and includes built-in payment processing, making it ideal for small businesses, retailers, and hospitality venues. Fees are transaction-based, and Square’s ecosystem includes free POS software, invoicing, and reporting tools.

Examples:

• In-person card payments: 1.6% per tap, insert or swipe

• Online payments: 2.2% per transaction

• Invoices and eCommerce: 2.2% per transaction

Comparing Square fees vs Stripe fees, Square provides better value for in-person sales, especially for businesses that rely heavily on physical terminals.

Stripe vs Square fees compared

Who is Stripe best for?

Stripe is most suitable for:

• Startups and scale-ups with dedicated development teams

• SaaS companies needing recurring billing functionality

• Marketplaces and platforms with complex payment routing needs

• Global businesses requiring multi-currency support and API flexibility

Stripe’s infrastructure is highly flexible, but the trade-off is a steeper learning curve and a need for technical expertise.

Who is Square best for?

Square is best suited to:

• Local retailers, cafes, and service businesses

• Merchants that prioritise ease of use and fast setup

• Businesses that want integrated hardware and POS tools

• Sole traders or SMEs operating in Australia or other supported markets

Square’s simplicity and bundled ecosystem make it ideal for businesses with straightforward payment needs.

Beyond the basics: key differences between Stripe and Square

While Stripe and Square both offer online and in-person payment solutions, they are fundamentally designed with different business needs in mind. These platforms were built on distinct philosophies. Stripe prioritises developer flexibility and global infrastructure, whereas Square emphasises simplicity and integrated tools for local businesses.

Customisable vs turnkey: Stripe is known for its powerful APIs and developer-first tools, but it also supports no-code payment options like Stripe Checkout and Payment Links. 

Square leans more towards out-of-the-box simplicity, with bundled hardware and software for fast setup, along with no-code options. For those comparing Square payment vs Stripe, the decision often hinges on technical resources and desired flexibility.

Geographic reach: Stripe operates in over 45 countries and supports more than 135 currencies, making it a strong fit for globally focused businesses. Square’s international presence is much narrower. It supports only a handful of currencies and is primarily available in the United States, Canada, Australia, Japan, and a few European markets. If global scale is a priority, Stripe offers significantly broader reach.

FX transparency: Stripe applies FX conversion fees to international transactions, and while these are often disclosed in pricing tools, they can vary depending on the method used. 

Square uses a flat 2.2% fee for online payments in Australia, which may include FX costs, though these aren’t broken out explicitly. This lack of detail can make it harder for businesses to estimate cross-border charges accurately. For businesses making regular cross-border transactions, this lack of transparency can complicate financial forecasting. Airwallex, in contrast, provides real-time FX rates with no hidden margins.

Product ecosystem: Square delivers an integrated ecosystem of hardware (e.g. card readers, registers) and services like payroll, banking, and appointments. This makes it a one-stop shop for small businesses. Stripe focuses primarily on the software side of payments, offering tools for billing, identity verification, and financial reporting. While it doesn’t produce its own branded hardware, Stripe does support in-person payments through Stripe Terminal, which includes pre-certified card readers and Tap to Pay on iPhone and Android. Devices can be ordered through the Stripe Dashboard and are fully integrated with Stripe’s software. Stripe also integrates well with third-party tools, but businesses must source those separately.

Support and scalability: Stripe is better suited to businesses that plan to scale quickly or expand into international markets. It supports high transaction volumes, offers advanced fraud detection, and integrates with complex financial stacks. Square is ideal for local or single-location businesses that prioritise speed, ease, and affordability over deep customisation or global reach.

Why Airwallex is a powerful alternative (and how we compare)

Airwallex offers a global financial platform designed to support businesses with international ambitions. Where Stripe and Square serve specific niches, Airwallex provides a comprehensive suite of tools for managing payments, FX, multi-currency accounts, virtual cards, and expenses, all in one place.

Key Airwallex advantages include:

• Like-for-like settlement in 14+ currencies: Receive payments in the same currency your customers pay in, with no forced conversions or hidden FX fees. Funds settle directly into your multi-currency wallet, unlike Stripe, where foreign currency requires conversion or separate accounts. 

• Speedy global accounts: Open domestic and foreign currency accounts within minutes and accept currencies in over 60 countries.

• Local bank details: Get local account details in more than 60 countries, allowing you to operate like a local business, globally.  

• Live FX pricing: Trade in 90+ currencies at interbank rates with 100+ currencies priced live on the spot market. 

• Save on FX fees: Customers can save up to 80% on FX costs compared to traditional banks and platforms like Stripe. 

• Faster, smarter payouts: Send money to over 200 countries. More than 90% of transactions use local rails (instead of SWIFT), with approximately 95% settling within hours or the same day, and around 52% arriving instantly. 

• All-in-one-global financial stack: From global accounts and FX to cards and expense management, everything runs through one secure, easy-to-use platform.

Consider Airwallex if:

• You want to avoid double conversion fees and forced FX markups

• You need to receive and hold funds in the same currency you’re paid in

• Your business operates internationally and needs fast, cost-efficient cross-border payments

• You’re looking to simplify global finance operations with a single platform

Final verdict: choosing the right solution for your business

Stripe and Square are both capable platforms, but they serve very different business models and requirements. The decision ultimately depends on your specific needs and growth ambitions.

Choose Stripe if you have a technology-driven company with developer resources and complex payment needs. Its infrastructure is robust, global, and highly customisable.

Choose Square if you run a local retail or service business and want a straightforward, integrated system for in-person and online payments. It excels in speed, simplicity, and bundled features.

However, if your business is scaling internationally, managing multiple currencies, or seeking a more unified financial solution, Airwallex may be the more strategic choice. With like-for-like settlements, competitive FX rates, multi-currency accounts, and integrated financial tools, Airwallex helps modern businesses streamline operations and grow with confidence.

Ready to simplify your global payments? Explore Airwallex today to see how we support thousands of businesses around the world.

Stripe vs Square: frequently asked questions

Is it better to use Stripe or Square?

Choosing between Stripe vs Square depends on the business model. For online payments, Stripe offers advanced customisation and international reach, making it ideal for global businesses. Square is a better fit for local retailers needing simple in-person solutions. In a Stripe vs Square comparison, the right choice comes down to technical needs and business size.

What are the disadvantages of Stripe?

Stripe can be complex for small businesses, especially those without developers. It requires custom integration and charges additional fees for features like international payments and subscription billing. Compared to Square, Stripe fees can be harder to forecast, and there’s no support for local bank accounts in multiple currencies.

How much is the Stripe fee for $100?

For a $100 transaction in Australia:

• Domestic card (Visa, Mastercard, Amex): 1.7% + A$0.30 = A$2.00 fee

• International card: 3.5% + A$0.30 = A$3.80 fee

• Currency conversion: If currency conversion is required, Stripe adds a 2% FX markup

Fees may vary depending on transaction type and any additional services.

What are Stripe fees in Australia?

Stripe fees in Australia are 1.7% + A$0.30 for domestic card payments and 3.5% + A$0.30 for international cards. Businesses processing cross-border payments may also incur FX charges.

Is Square better than Stripe for online payments?

Square is simpler to use for small businesses that need quick setup and bundled tools, especially in-person. Stripe, on the other hand, is more powerful for online payments that require customisation, scalability, and global support. Looking at Square vs Stripe for online payments, Stripe often wins on flexibility, while Square appeals with ease of use.

Sources:

https://stripe.com/au/pricing

https://squareup.com/au/en/pricing