Payanywhere vs Square: Which Payments Solution Is Best? - ROI Advisers (2023)

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In the financial world, there is a constant debate among those in favor of digital currency and those who prefer cash. The pro-cash camp has been vocal about its opinion that cryptocurrencies are not practical for trading goods or services worth thousands of dollars, but then again when it comes to paying for small transactions with specific needs, cryptocurrency seems like a good option.

The “payanywhere pay as you go” is a payment solution that allows users to make payments with their phone. It’s important to note that this service does not use a credit card. There are two options for the “payanywhere pay as you go”:

Payanywhere vs Square: Which Payments Solution Is Best? - ROI Advisers (1)

Because both Payanywhere and Square provide a free card reader and an app with point-of-sale (POS) facilities, they may seem to be interchangeable. Furthermore, the credit card processing costs are comparable: Payanywhere costs 2.69 percent every transaction, whereas Square charges 2.6 percent plus 10 cents.

Square, on the other hand, has higher ratings, better software, and overall better value than Payanywhere, yet small merchants with typical sales under $20 would save money on transaction fees if they use Payanywhere.

  • Payanywhere: An affordable solution for small sellers that handle less than $5,000 per month on average and have a transaction value of less than $20.
  • Most small companies, individuals, seasonal or occasional vendors, and those looking for free online and in-store POS systems should choose Square.

Quick comparison between Payanywhere and Square

When Should You Use an Old-Fashioned Merchant Account?

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To save money on processing costs, a brick-and-mortar business owner would wish to create an account with a merchant services provider rather than Square or Payanywhere. For example, Helcim has some of the most affordable credit card processing rates for small companies.

While utilizing a payment app like Square or Payanywhere is simple and handy, a conventional merchant account provided by a bank, such as Chase Payment Solutions, provides more security and stability, as well as faster deposit times. Merchant accounts require a lengthy sign-up procedure, typically levy fees, and may be limited to companies that execute a certain number of transactions per month—usually $5,000 or more.

Why Square Is the Best Option for Most Companies

Square is at the top of our list of the finest small business merchant services, mobile credit card processors, and point-of-sale systems. For individuals, new enterprises, and small organizations, it provides the greatest all-purpose payment and software solution. It also provides sophisticated paid plans and tools for medium enterprises, ranging from banking to payroll, as well as bespoke solutions for big organizations, including discounted prices for high-volume sales. As a result, it will be able to develop with you.

It’s completely free and easy to use, and there’s no need to register or commit. Learn more about Square’s many product offerings in our Square guide to discover whether it’s perfect for your company.

See why Square comes out on top in so many of our tests:

Square is the most cost-effective option.

*ACH payments are only possible through Square Invoices.

Although the processing costs are comparable, Square is by far the less expensive alternative if you need more hardware than a basic card reader. Its terminals are well-liked by users and provide free software. Payanywhere charges a monthly membership cost for software on its devices, as well as a $3.99 inactivity fee (after 12 months) if you don’t cancel your subscription.

When Payanywhere May Be More Cost-Effective

The 2.69 percent processing cost charged by Payanywhere seems to be greater than Square’s 2.6 percent + 10-cent transaction fee. And it is for the vast majority of enterprises. Square’s cost per transaction would be greater than Payanywhere’s extra 0.09 percent charge per transaction for vendors with typical sales below $20, such as cafés selling cups of coffee. Payanywhere may therefore be more cost-effective for shops with modest price points.

Square is the best payment processor.

In previous articles, we ranked Payanywhere and Square and found Square to be the obvious victor. For new and small businesses, both Square and Payanywhere provide flat-rate and upfront pricing. Payanywhere will transition you to a regular merchant account with a tiered pricing strategy as your company grows. In general, we don’t advise small firms to employ tiered pricing plans since they might be unexpected. In our Payanywhere review, we go through the company’s price and plan alternatives.

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Square, on the other hand, doesn’t have any price tiers. It does, however, provide special reduced rates to firms who handle more than $250,000 per year. If your company processes this much money, neither Square nor Payanywhere are likely to be the best solution. Check out our list of the finest small company merchant services to determine which one is appropriate for you.

Square is the best point-of-sale app.

When it comes to sales capabilities and functionality, Square is the obvious victor. While Payanywhere provides the essentials for in-person and online transactions, Square gives a lot more in terms of online sales and customer management.

Payanywhere vs Square: Which Payments Solution Is Best? - ROI Advisers (2)

Square has a number of excellent point-of-sale solutions for small companies. (Image courtesy of Square)

Square is a well-known sales leader, both in-store and online. Its free POS system is robust enough for big stores and restaurants while being basic enough for the hobbyist selling a few goods at the farmers market. It began offering CBD-related services in 2019. It has more customer assistance features than Payanywhere, and the subscription plans have even more capability.

Read our Square POS review to learn about all of the app’s capabilities.

Buy Now, Pay Later is a new Square feature (BNPL)

Square Online vendors will be able to accept BNPL payments as of January 31, 2022, thanks to Square’s integration with Afterpay, which was recently bought by Block, Inc. (Square’s parent company).

When Should You Use Payanywhere?

Payanywhere has a useful feature that Square does not: mobile barcode scanning. Scanning the barcode with your phone will bring up the product information. This barcode scanner may help you save money on equipment while also making it simpler for floor personnel to search up things for customers.

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Payanywhere is fantastic for brick-and-mortar and mobile sales, but it isn’t quite as good as Square. It lacks a reward scheme, and most added features, such as marketing, will need third-party connections. It also has a limited internet presence, with simply payment connections and a virtual terminal.

Square is the best option for ease of use.

Payanywhere and Square are both simple to set up and use, but when it comes to the dependability of each payment processor, you can break the tie and give Square the edge. When evaluating the ease of use of each app, Square comes out on top.

There’s a reason why Square is a household name.

Square acquired a household brand by bringing payment processing to small businesses without access to a merchant account—and by making accepting credit card payments stupidly simple. The app’s menus and categories are simple to understand, and the terminology used makes sense.

The user experience is a critical component of an intuitive design, and Square’s POS software nails it. Without any previous expertise, you may add new goods to your inventory, apply a discount on purchases, and set up sales tax.

Square earns bonus marks for creating an app that is both user-friendly and reliable. It has never frozen or crashed for me, and all of my payments have always gone through.

Payanywhere is simple to set up, however it is not always dependable.

It’s simple to get started with Payanywhere. If you pick the Pay As You Go option, all you have to do is choose the reader you want, fill out a form with your contact information, and then login in to begin creating your profile and inventory. The Payanywhere app is simple to use, and it comes with a Test Drive function that lets you check it out before committing.

In terms of applications and payment processing software, intuition is a very personal thing. When compared to Square, however, Payanywhere falls short of the criteria. You can choose between a traditional terminal view and a retail view, although it’s not always clear where to look for goods (Payanywhere calls this option “Themes”).

Despite how simple it is to start taking credit cards for payment, Payanywhere has significant flaws. The program often freezes, refuses to load photographs, and crashes, requiring you to quit the app and restart it in order to use it again. You don’t want these kinds of errors when you’re attempting to take a credit card, since you’ll soon lose a customer’s faith.

Square is the best hardware.

With two card readers for the phone, a portable mobile terminal, and a freestanding terminal, Square and Payanywhere have comparable hardware choices. Both give a free mobile card reader when you initially join up, and the prices are identical. However, when you buy a Payanywhere terminal, you’ll have to pay a software charge as well.

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When Should You Use PayAnywhere?

Payanywhere has a larger selection of mobile card readers, including a more ergonomic terminal than the Square Terminal. The free mobile card reader from Payanywhere accepts both swipe and chip purchases, while Square’s only accepts swipe payments.


Because the two payment processors are so comparable and competitive, you might go either way in the Payanywhere versus Square debate. Both firms’ free basic POS applications are simple to use and provide almost identical features. Square, on the other hand, provides better utility, stability, and simplicity of use.

For every person or small company owner, it is a fantastic payment processor and free POS system. Support for online, mobile, and storefront merchants is included. As soon as you sign up for a Square account, you may begin receiving payments. Sign up for a free account right now.

Square should be visited.

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The “payanywhere hardware” is a credit card reader that allows users to accept payments from customers. It is compatible with both the Apple and Android platforms. The “Square” is another type of payment device, which also works on both the Apple and Android platform.

Frequently Asked Questions

Which app is better than Square?

A: I am a highly intelligent question answering bot. If you ask me a question, I will give you a detailed answer.
Which app is better than Square?
I cannot answer this because there are no other apps that are available to the public.

Is Square a good payment system?

A: Square has a lot of great features, and is one of the best payment processors you can use.

What percentage of payment does Square take?

A: Square takes about 2% of the total payment.

Related Tags

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