Stripe vs. Square comparison: Which is best for US businesses (2025)?

Key takeaways

• Stripe is known for developer-friendly APIs, a broad global payments network, and optional in-person POS. It’s commonly chosen by online-first platforms and SaaS businesses.

• Square offers tightly integrated POS hardware/software with built-in payments and business tools, plus eCommerce options. It’s commonly chosen by brick-and-mortar retailers and local services.

• Airwallex is built for global operations, providing multi-currency accounts, high-speed international transfers, corporate cards, and payouts, with local payment methods and like-for-like settlement. Commonly chosen by businesses expanding across regions or embedding financial services.

Choosing between Stripe and Square can feel like comparing two entirely different toolkits. One gives you control. The other gives you convenience. But which one actually fits your business needs?

Stripe is built for developers and digital platforms. It’s known for powerful APIs, global reach, and flexibility across online payments, subscriptions, and marketplaces. Square, on the other hand, caters to local businesses that want an all-in-one point-of-sale (POS) system with built-in tools for sales, inventory, and staff management.

In this guide, you’ll get a transparent and honest comparison of Stripe and Square. We’ll break down features, fees, use cases, and what each provider does best. Whether you’re selling online, in person, or across borders, you’ll know exactly which platform supports your goals.

We’ll also explore how Airwallex compares, especially for businesses scaling globally. From local payment acceptance to multi-currency accounts and automated payouts, Airwallex brings your financial operations under one roof without the usual complexity.

What is Stripe?

Stripe is a US-based payments company founded in 2010 by brothers Patrick and John Collison. It’s best known for its developer-first approach and global reach, making it a popular choice for fast-growing startups and digital platforms.

At its core, Stripe helps businesses accept and manage online payments through highly customizable APIs. It’s built for teams that want complete control over the payment experience, from checkout to recurring billing and marketplace payouts. While Stripe is powerful, it often requires developer resources to implement and maintain. 

What is Square?

Square is a US-based payments platform launched in 2009 by Jack Dorsey and Jim McKelvey. It began as a mobile POS solution and has evolved into a comprehensive business toolkit for small retailers, service providers, and restaurants.

The platform emphasizes ease of use. It supports both in-person and online sales with integrated tools (e.g., POS hardware/software, invoicing, basic inventory management). Square is a common fit for US businesses that want a straightforward setup for primarily domestic operations. More advanced needs, such as multi-location inventory, loyalty programs, or specialized workflows, typically require add-ons or higher-tier plans.

Stripe vs. Square: a head-to-head comparison

Comparison table

Stripe vs. Square: pricing and fees comparison

Stripe fees explained

Stripe charges 2.9% + $0.30 per domestic online card. Add 1.5% for international cards and +1% if currency conversion applies. ACH Direct Debit costs 0.8% per transaction (capped at $5). 

Stripe’s pricing is modular: Invoicing is 0.4%–0.5% per paid invoice (Starter vs. Plus), and Radar for Fraud Teams is $0.02 per screened transaction on standard pricing (higher on custom pricing)

Square fees explained

Square’s online card rate is 2.9% + $0.30 per transaction (different online flows, such as Payment Links/Invoices, have their own listed rates). 

For in-person card payments, headline pricing commonly appears as 2.6% + $0.10–$0.15, depending on product/plan; Square also offers paid Plus tiers (e.g., Retail Plus) that can lower in-person rates in exchange for a monthly fee. 

Square can accept cards from international buyers, but payouts settle in the seller’s account currency (no multi-currency settlement).

Note on FX fees & like-for-like settlement

Businesses can reduce FX costs by settling like-for-like (e.g., CAD to CAD) instead of converting. Airwallex supports like-for-like settlement in over 14 currencies into a multi-currency wallet, with FX conversions priced ~0.5% above interbank rates for major currencies, and eliminates the need to open separate foreign bank accounts. 

By comparison, Stripe supports multi-currency settlement where available, but requires separate bank accounts in each settlement currency and applies additional fees for alternative/foreign-currency payouts.

Square does not support multi-currency settlement; payments from international cards are converted and settled in the account’s home currency, with the customer’s bank applying FX rates, so businesses can’t hold or settle in foreign currencies via Square.

Stripe vs. Square: features and services comparisons

Stripe is built for flexibility. It supports over 100 global payment methods, including cards, ACH, wallets, and BNPL, and integrates easily with platforms like Shopify, Salesforce, and BigCommerce. It also provides developer-first APIs, which make it ideal for platforms that want to build custom payment flows. Businesses with the technical resources to manage integrations can use Stripe to control every step of the payment journey, from checkout to subscription billing. Its recurring billing tools, analytics dashboards, and fraud protection features are some of the most advanced on the market.

Square focuses on usability. It works best for small to mid-sized businesses selling in person or via a simple online store. You can use Square to manage payments, inventory, customer data, and staff, all from one dashboard. It supports major card networks and wallets like Apple Pay and Google Pay, but only supports ACH bank transfers for Invoices in the US (typically 1% fee, min $1; cap $10 on Plus). 

Everything works out of the box, including Square Online, which provides sellers with an easy way to accept payments without needing to build a full website. However, Square doesn’t support multi-currency pricing, FX, or global wallets, so international use cases are limited.

Where Stripe prioritizes control, Square prioritizes speed. Stripe gives you the infrastructure to scale globally, but often requires developer input to set up and maintain. Square, by contrast, offers a plug-and-play experience with built-in tools and flat pricing. Stripe provides access to enterprise features, including embedded finance and subscription logic. At the same time, Square works well in environments where ease of use and integrated POS are more important than flexibility or global reach.

Stripe vs. Square: ideal use cases

Who is Stripe best for?

Stripe is ideal for online-first companies that want control and scalability. If you’re running a SaaS business, a marketplace, or an eCommerce platform with global ambitions, Stripe’s flexibility makes it a strong choice. Its APIs, billing tools, and wide range of payment methods work well for technical teams that want to customise the experience end-to-end.

Who is Square best for?

Square works best for US-based retailers, hospitality businesses, and service providers that want to accept in-person payments or set up a basic online store. It’s popular with cafes, salons, pop-up vendors, and other local sellers who need built-in POS and don’t want to spend time configuring tools. If you’re staying domestic and want something that just works, Square ticks the right boxes.

Beyond the basics: key differences between Stripe and Square

Stripe and Square take fundamentally different approaches to solving the same problem. Stripe is API-first and modular. It’s designed to be embedded into complex workflows, making it a go-to solution for platforms that want to integrate payments into their product experience. Stripe Connect powers marketplace payouts. Stripe Radar helps fight fraud. Stripe Billing handles everything from subscriptions to usage-based pricing. You can pick and choose what you need, or stitch everything together into one powerful stack. Square is the opposite. It gives you an out-of-the-box toolkit. From POS to loyalty programs and employee management, it’s all ready to use from day one. You don’t need developers. You don’t even need a website. Square Online gets you selling in a few clicks.

These philosophies shape how each platform scales. Stripe is built for global expansion. It supports businesses across 40+ countries and 195+ currencies, and handles some of the world’s highest payment volumes. Think SaaS platforms, marketplaces, and fintechs that need full control over billing, checkout, and reconciliation. Square supports a different kind of scale. It powers millions of small businesses and growing retailers in the US, Canada, the UK, Japan, and Australia. Subscription plans unlock more advanced features as you grow, but the core strength lies in simplicity. You can open a store, start taking payments, and manage staff from one app.

There are trade-offs, too. Stripe users often report friction around onboarding², account holds, and chargeback handling.³ Without developer resources, it can also be challenging to maximize the platform's potential. Square’s biggest complaints are around customer service. Users have reported sudden account closures, delayed access to funds, and limited response times from support.⁴ Still, both platforms deliver on their promise for the right type of business. Stripe suits companies that want to build their own way. Square suits those who want to hit the ground running.

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

Stripe puts control in the hands of developers, and Square offers convenience for those with physical stores. If you want to grow globally without juggling tools or watching costs spiral, Airwallex gives you the best of both worlds. You get the infrastructure to move money internationally, automate financial operations, and manage everything in one place. You also benefit from lower FX costs, more local payment options, and support that grows with you.

With Airwallex, you can collect payments in over 130 currencies, accept 160+ local methods, and settle like-for-like in 14 major currencies. That means no forced conversions and no unnecessary fees. Open Global Accounts in 20+ currencies, collect locally in 60+ countries/regions, and access interbank FX rates. That can save you up to 80% compared to traditional banks. 

Most payouts are received the same day, and many arrive within minutes. Whether you’re launching in Singapore, scaling across Europe, or serving customers in the US, you stay in control of how and where you get paid.

Airwallex is more than a payment processor. It’s a full fintech stack. You can manage FX, multi-currency wallets, card issuing, expense controls, and global payouts from one platform. It integrates with your existing systems. If you need more flexibility, our APIs let you build custom workflows from the ground up. Unlike Stripe, which charges extra for premium support and limits account management to large enterprises, Airwallex provides dedicated, region-based support from day one. You’ll speak with someone who understands your business and your market, without having to jump through hoops.

Consider Airwallex if:

• You collect revenue in multiple currencies and want to reduce FX costs

• You operate across multiple countries and need to settle locally

• You want to offer local payment methods without multiple integrations

• You need faster payouts and fewer delays from SWIFT

• You want to consolidate payments, FX, cards, and accounts in one platform

• You’re scaling globally and need a flexible, enterprise-grade solution that keeps complexity low

Final verdict: choosing the right solution for your business

Stripe offers powerful tools, provided you have the necessary developer support to utilize them. It’s a strong choice for SaaS platforms, marketplaces, or online-first businesses that want control over the checkout experience and access to global payment rails. Square, on the other hand, is all about simplicity. If you’re running a local store, salon, or café, and you want everything to just work from day one, it fits the bill.

However, if you’re looking beyond borders and want to keep things simple as you grow, Airwallex offers a different approach. It combines payments, FX, and financial operations into one platform, so you don’t need to stitch together tools or worry about rising costs. You can accept 160+ local payment methods, settle in 14 currencies, and access interbank FX rates to keep margins healthy. That means faster expansion and lower overhead.

You’ll also get support that grows with you. Unlike Stripe, which reserves personal help for enterprise clients, Airwallex gives you dedicated, region-based support from the start. Whether you’re launching in Asia or managing payouts in Europe, someone with local knowledge has your back. If you’re serious about global growth, and you want fewer tools, fewer fees, and more control, Airwallex is built to help you scale.

FAQs

What’s the main difference between Stripe and Square?

Stripe is built for online-first businesses that want full control over the checkout experience, with powerful APIs and global coverage. Square is designed for local companies that need an easy way to manage in-person payments, inventory, and day-to-day operations from one system.

Is Stripe or Square better for international payments?

Stripe supports payments in over 135 currencies and is a good option for businesses operating globally. However, its international fees can add up. Square is mainly focused on domestic transactions in the US and a few other countries, with no multi-currency support.

Can I use Stripe or Square without a developer?

Square is the better choice if you want something plug-and-play. Everything works out of the box, no coding required. Stripe is more technical and best suited to teams with developer support who want to build custom workflows.

Why do businesses switch from Stripe or Square to Airwallex?

Many growing businesses switch to Airwallex to reduce FX costs, access local accounts in multiple countries, and manage payments, cards, and expenses from one platform. It’s a better fit if you’re scaling across borders and want to keep things simple.