Adyen vs Square: The ultimate 2025 comparison guide for global payments

Selecting the right payments platform can shape how your business grows. Adyen and Square are two of the most recognised names in the market, but they serve very different needs. Adyen caters to global enterprises handling high volumes and complex requirements, while Square is built for small to medium businesses that want a fast, straightforward way to accept payments.

This guide will compare Adyen vs Square across pricing, features, scalability, and ideal use cases – and introduce Airwallex as a modern alternative for businesses ready to scale globally.

What is Adyen?

Adyen is a Netherlands-based payments company servicing large global enterprises with complex payment needs. Its platform connects directly to local card networks and payment methods, removing the need for third-party processors.

Key features:

• Acquiring services across 40+ markets

• Wide coverage of local payment methods, including cards, wallets, and bank transfers

• Single platform for online, mobile, and point-of-sale transactions

• Fraud and risk management through RevenueProtect

• Interchange++ pricing model with pass-through transparency

• Reporting and reconciliation tools designed for finance teams

• Greater control over payment routing without relying on intermediaries

Adyen is built for large merchants with high volumes and international operations, offering deep control over payments, risk, and data.

What is Square?

Square is a US-born point-of-sale and payments platform built for small businesses. Cafes, salons, and local retailers often choose Square for its bundled hardware and software that makes setup quick and easy.

Key features:

• Integrated POS hardware and software

• Free POS app with optional paid add-ons

• Flat-rate, transparent pricing

• Online store, invoices, and team management tools

Square is designed to help SMEs accept payments quickly, without complex onboarding or technical setup. 

Adyen vs Square: A head-to-head comparison

Features comparison

Adyen vs Square: Fees compared

Adyen fees explained

Adyen uses an Interchange++ pricing model. This includes:

• Interchange fee: set by the issuing bank, varies by country and card type

• Scheme fee: set by card networks (Visa, Mastercard, etc.)

• Adyen markup: typically 0.6% per transaction (may vary by contract)

• Processing fee: AU$0.11 per transaction (Australia-specific) plus payment method fee

Other charges include:

• Currency conversion: 0.6%–1.2% above market rate

• Chargebacks: €25 per dispute (refundable if you win)

• Refunds: original processing fees aren't returned

• Monthly fees: none, but minimum invoice amounts may apply

Adyen’s model works best for large merchants with significant volumes who can take advantage of tailored rates and advanced reconciliation tools.

Square fees explained

Square offers simple, flat-rate pricing in Australia:

• In-person card payments: 1.6% per tap, insert, or swipe (note: some existing users on older devices see 1.9%)

• Online payments & invoices: 2.2% per transaction

• No setup or monthly fees for basic services

• Hardware: starting from A$65

• Add-ons: Square for Restaurants, Retail, Appointments (monthly fees apply)

• Payouts: next business day by default, Instant Transfers available for a fee

Square’s flat-rate model is easy to understand and ideal for SMEs, though larger merchants may find it less cost-efficient at scale.

Who is Adyen best for?

Adyen is best suited to:

• Large enterprises with global operations

• High-volume merchants seeking tailored pricing

• Businesses needing direct acquiring in multiple regions

• Companies requiring advanced fraud and risk tools

Adyen is powerful, but best suited to enterprises with technical and financial resources.

Who is Square best for?

Square is best suited to:

• SMEs, cafes, and local retailers

• Businesses wanting fast setup and bundled POS tools

• Small businesses that don't handle multiple currencies

• Sole traders or small businesses in supported markets

Square’s strength lies in ease of use, though it lacks the global reach and advanced tools of Adyen.

Beyond the basics: Key differences between Adyen and Square

• Scale and target market: Adyen is designed for global enterprises handling complex payment needs and large transaction volumes, while Square is better suited for local retailers, cafes, and small service businesses.

• Geographic reach: Adyen provides acquiring in over 45 markets, supports 150+ currencies, and enables more than 250 payment methods. Square has a narrower presence, supports around six major currencies, and always settles in the seller’s local currency.

• Pricing approach: Adyen’s Interchange++ model passes through interchange and scheme fees with a small markup, which can deliver value for high-volume merchants. Square offers flat, transparent rates that are easy to understand but can become expensive as volumes increase.

• Onboarding and setup: Adyen requires underwriting and contractual agreements, making it more suitable for enterprises with dedicated finance and tech teams. Square enables instant signup and quick activation, appealing to small businesses that prioritise speed.

• Technology and hardware: Square provides its own ecosystem of POS hardware and free POS software, with optional add-ons for restaurants and retail. Adyen offers enterprise-grade payment terminals and unified commerce APIs, but hardware is quote-based and integrated into custom setups.

• Risk and compliance: Adyen includes advanced fraud prevention tools like RevenueProtect and comprehensive compliance controls. Square offers basic risk tools suitable for small businesses but less depth for enterprise-level requirements.

Why Airwallex is a powerful alternative to Adyen and Square

Airwallex gives growing businesses a smarter, simpler way to manage international payments. Where Square focuses on domestic SMEs with flat-rate pricing, and Adyen requires complex enterprise setups, Airwallex combines clarity and control in one platform – without the overhead.

Key benefits of using Airwallex:

• Like-for-like settlement in 14+ currencies: Get paid and hold funds in the same currency. No forced conversions and no hidden FX margins.

• Open global accounts quickly: Create local currency accounts in minutes, not weeks.

• Receive local bank details in 60+ countries: Accept payments like a local business in major markets.

• Access real-time FX: Interbank rates on 60+ trade currencies, with 100+ currencies priced live on the spot market.

• Cut FX costs by up to 80%: Compared to traditional banks and legacy platforms.

• Faster global payouts: Send to 200+ countries, with 120+ using local rails. Over 90% of transfers use local rails. About 95% arrive within hours or the same day, and around 57% are instant.

• Accept more ways to pay: Process payments with all major schemes and 160+ local payment methods. Collect in 130+ currencies.

• Issue multi-currency cards in 40+ markets: Control team spend with limits, approvals, and real-time tracking.

• Manage everything in one place: Payments, FX, virtual cards, expenses, and approvals in one platform.

Airwallex is ideal if:

• You’re looking to reduce international transaction fees

• You want to hold and manage multiple currencies without juggling accounts

• You need fast, reliable payouts across borders

• You want a single, modern platform that simplifies global business banking

Final verdict: Choosing the right solution for your business

Adyen and Square are both strong platforms, but built for different users.

• Choose Adyen if you’re a global enterprise with high volumes and need direct acquiring and advanced fraud tools.

• Choose Square if you’re a small business seeking simplicity, bundled hardware, and quick setup.

But if you want a solution that scales with you, combining global reach, transparent FX, and all-in-one financial tools – Airwallex is the smarter choice.

Adyen vs Square: frequently asked questions

Who is Adyen's biggest competitor?

Adyen’s biggest competitors include Stripe, Square, and Airwallex. Stripe is known for developer-first tools, Square for small business simplicity, and Airwallex for global accounts and transparent FX.

What is better than Square payment processor?

For global operations, platforms like Adyen or Airwallex may be better than Square, as they support more currencies, offer advanced risk tools, and provide stronger cross-border payment capabilities.

Who owns Adyen?

Adyen is a publicly traded company listed on Euronext Amsterdam under the ticker symbol ADYEN. It was founded in 2006 by a team including Pieter van der Does and Arnout Schuijff.

Why choose Adyen?

Enterprise businesses choose Adyen for its unified commerce platform, direct acquiring, and support for 250+ payment methods. Its scalability, fraud prevention tools, and ability to handle high transaction volumes make it attractive to global businesses.

Why consider Airwallex instead?

Airwallex offers many of the enterprise-grade features of Adyen, but with faster onboarding and transparent FX. Compared to Square, it provides true multi-currency accounts and international reach, making it a strong option for growing businesses.