Square is better suited for businesses that require a comprehensive POS system with a strong focus on in-person transactions, while Revolut is more advantageous for businesses that handle frequent international transactions and need robust multi-currency support.
| Attribute | Square (Block, Inc.) | Revolut |
|---|---|---|
| Payment Processing Fees | In-person: 2.6% + $0.10; Online: 2.9% + $0.30; Keyed-in: 3.5% + $0.15; Invoices: 3.3% + 30 (Free), 2.9% + 30 (Plus); Virtual Terminal: 3.5% + $0.15; Gift Cards: 2.5% load fee, digital eGift cards: 2.9% + 30 fee. | Revolut Pro: 2.5% online, 1.5% card reader. Revolut Reader: 0.8% + 0.02 for UK consumer cards (in-person), 2.6% + 0.02 for international & commercial cards (in-person), 1.0% + 0.02 for UK consumer cards (online), and 2.8% + 0.02 for international & commercial cards (online). UK cards: 1% + 0.20, 1.7% + 0.20 (Amex), 2.8% + 0.20 (commercial & non-UK). |
| International Transaction Capabilities | Higher fees for international cards; accepts currencies from US, Canada, Japan, Australia, and the UK; fee of 4.4% + $0.30 plus 1% for currency conversion. | Supports sending money in 30+ currencies to over 150 destinations. International payments have a 5 fee. International payments are free until you meet your plan's allowance, then cost $3 per transaction. International payments outside SEPA cost 0.30 5.00. |
| Hardware Options (POS Systems) | Square Reader for Magstripe: Free (first reader), $10; Square Reader for Contactless and Chip: $49 - $59; Square Stand (for iPad): $149; Square Terminal: $299; Square Register: $799; Square Stand Restaurant Kit: $1,089. | Revolut Reader costs 49 (+VAT). Integrates with Nobly POS. |
| Mobile App Features & User Experience | Free app with sales and customer reports, card-on-file storage, virtual terminal, invoice management, and inventory features; user-friendly interface; compatible with iOS and Android. | Manage multi-currency accounts, track spending, set spending limits, create savings vaults, split bills, make peer-to-peer payments and charitable donations, and exchange currency and cryptocurrency. Available on desktop and mobile. |
| Business Account Features | Square Checking: No fees for transactions deposited into Square Checking; $10 fee cap on all ACH bank transfer payments; no monthly or annual fees; free debit card with no monthly fees, minimum balance fees, or overdraft fees. | Multi-currency accounts, expense management, debit cards, and integration with accounting software like Xero and QuickBooks. |
| Integration with Third-Party Software | Integrates with accounting software and e-commerce platforms; offers App Marketplace. | Integrates with Xero, QuickBooks, Slack, Zapier, and more. |
| Customer Support Channels & Response Time | Phone, email, and chat; phone support from 6 am to 6 pm Pacific time, Monday through Friday (24/7 for higher-paid subscription tiers); inconsistent response times. | Primarily through in-app chat, available 24/7. Phone support is reserved for emergencies like card theft or fraud. |
| Security Measures & Fraud Protection | PCI DSS compliant; uses encryption and monitoring; machine learning for fraud detection; Risk Manager tool for custom fraud alerts. | Secure access protocols, in-app fraud warnings, online purchase verification, confirmation for new recipients, and virtual disposable cards. Employs machine learning algorithms for real-time fraud detection and monitoring. |
| Compliance & Regulatory Adherence | PCI certified; adheres to regulatory requirements; faced scrutiny related to AML compliance. | Registered as an Electronic Money Institution (EMI) with the FCA, complying with regulations for safeguarding customer funds, including KYC and AML processes. Complies with regulations from the United Nations, European Union, and the United States. |
| Scalability for Growing Businesses | Offers various plans and hardware options. | Features are scalable to accommodate businesses of all sizes. Allows businesses to add millions of customers with minimal incremental costs. |
| Employee Management Tools | Time tracking and payroll (Square Payroll starts at $35 per month plus $5 per month per employee). | Revolut People features a centralized system that streamlines employee management by consolidating records, attendance, leave tracking, and payroll integration. |
| Reporting & Analytics Dashboard | Insights into sales, trends, and customer behavior; sales summaries, item sales, and transaction history (advanced reports require paid subscriptions). | Offers insights on payroll expenses, employee spending, and budget compliance. Provides analytics on workforce metrics like turnover and leave balances. |