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Read More >>Having an efficient point-of-sale (POS) system is essential in the competitive world of business.
Square has become a popular choice among small businesses, thanks to its user-friendly interface and cost-effective solutions. Despite those perks, though, as businesses grow and evolve, they may find that Square’s offerings no longer meet their needs.
Whether it’s due to high fees, limitations in features, or the need for scalability, exploring alternatives can be crucial for continued success.
In this blog post, we dive into some of the best Square alternatives, helping you find a POS system that aligns with your business goals.
Understanding the Need for Square Alternatives
While Square offers a robust set of features, it may not be the best fit for every business. Some users encounter limitations with Square’s services, such as transaction fees that can add up over time, limited scalability for larger businesses, and feature sets that might not meet specific needs. It’s essential for businesses to evaluate alternatives to find a POS system that better aligns with their unique requirements.
Top 5 Best Square Alternatives
Here are some of the top alternatives to Square:
Overview
FTx POS
FTx POS is a comprehensive point-of-sale system designed to provide businesses with a robust solution for managing sales, inventory, and customer relationships. With a focus on user experience and functionality, FTx POS offers an all-in-one platform that caters to a variety of business needs.
Key Features
FTx POS includes features like sales tracking, inventory management, and CRM tools, making it an excellent choice for businesses looking for an integrated solution.
Additionally, it supports various payment methods, ensuring flexibility for both the business and its customers. The system’s reporting and analytics tools provide real-time insights into sales performance, helping business owners make informed decisions.
Best for:
Retail businesses like clothing stores, pet shops, grocery stores, and convenience stores, as well as age-restricted businesses, including liquor stores, bars, tobacco shops, vape shops, and cigar shops.
Pricing
Discover the perfect pricing solution tailored to your business needs with FTx POS. Our flexible plans ensure you get the best value, whether you’re managing a single location or multiple stores.
- Single Location (Core): Just $99 per POS/month
- Multi-Store (Pro): Start at $179/month for the first POS per store, and only $129/month for each additional POS
- Multi-Store (Enterprise): $299/month for the first POS per store, plus $199/month for each additional POS
Here at FTx POS, we offer discounts on POS systems and other integrated solutions. Plus, you can also qualify for a complimentary POS with low credit card processing fees.
Clover
Overview
Clover is a popular POS system known for its sleek design and powerful features. It provides businesses with an easy-to-use platform for processing transactions, managing inventory, and engaging with customers.
Key Features
Clover offers a range of customizable features, including inventory tracking, employee management, and customer loyalty programs. Its app marketplace allows businesses to add functionalities specific to their needs, making it a versatile choice for those seeking a tailored solution.
Best For:
Businesses in the retail and service industries, such as coffee shops, salons, and small retailers. Its flexibility and scalability make it a strong contender for businesses looking to grow.
Pricing
Clover POS pricing varies by plan and business type.
Here’s a summary:
- Retail: Monthly software fees range from $14.95 (Starter) to $64.90 (Advanced). Hardware costs range from $799 for a basic setup to $2,398 for more advanced configurations, with leasing options available at higher monthly rates.
- Full-Service Dining: Monthly software costs range from $84.95 to $114.85, with upfront hardware prices from $1,699 to $4,097. Leasing starts at $160/month and goes up to $310/month.
Lightspeed
Overview
Lightspeed is a cloud-based POS system that offers a wide array of tools for managing sales, inventory, and customer interactions. It is designed to support businesses across various industries, providing a comprehensive solution for retail and hospitality sectors.
Key Features
Lightspeed boasts features such as advanced inventory management, multi-location capabilities, and integrated ecommerce options. Its reporting and analytics tools enable business owners to gain valuable insights into their operations, allowing them to make data-driven decisions.
Best For:
Lightspeed is ideal for restaurants, bars, and retail businesses with complex inventory needs. Its ability to handle multi-location operations makes it a strong choice for businesses looking to expand.
Pricing
Lightspeed POS offers different plans for retail and restaurant businesses:
Retail Plans:
- Basic: $89/month (annual billing) with essentials like POS, basic inventory, and reporting.
- Core: $149/month (annual) adds advanced inventory and marketing tools.
- Plus: $239/month (annual) includes advanced customization, product variants, and detailed analytics.
Restaurant Plans:
- Starter: $69/month for single-location restaurants with basic ordering and payment management.
- Essentials: $189/month, adding online ordering and CRM.
- Premium: $399/month, ideal for multi-location businesses with advanced features.
Toast
Overview
Toast is a POS system specifically designed for the restaurant and hospitality industries. It provides a comprehensive platform for managing orders, payments, and customer relationships in a fast-paced environment.
Key Features
Toast offers features like table management, online ordering, and integrated payroll services. Its robust reporting tools help restaurant owners optimize operations and enhance the overall guest experience.
Best For
Toast is tailored for restaurants, cafes, and bars, offering industry-specific tools that streamline operations and improve efficiency. Its focus on the food service sector ensures that businesses have the tools they need to thrive.
Pricing
- Basic Software: Starts at $79 per month per terminal.
- Hardware: Generally costs $899, though custom setups may vary.
- Installation: One-time fee of $499 for either remote or in-person installation.
Stripe
Overview
Stripe is a versatile payment processing platform that integrates seamlessly with various POS systems. While not a standalone POS system, Stripe enhances existing solutions by providing secure and efficient payment processing capabilities.
Key Features
Stripe supports a wide range of payment methods, including credit cards, digital wallets, and ACH transfers. Its robust security features ensure that transactions are processed safely, instilling confidence in both businesses and customers.
Best For:
Stripe is an excellent choice for businesses seeking a flexible and reliable payment processing solution. Its compatibility with existing POS systems makes it a valuable addition for businesses of all sizes.
Pricing
Stripe’s pricing is structured around transaction fees rather than a monthly or annual fee. Here’s a breakdown of the key costs:
- Online transactions: 2.9% + $0.30 per transaction for credit cards and digital wallets.
- In-person transactions: 2.7% + $0.05 per transaction for card-present payments using Stripe Terminal.
- International transactions: An additional 1.5% fee for payments made with international cards, plus a 1% currency conversion fee if applicable.
- ACH payments: 0.8% per transaction, capped at $5.00 per transfer.
- Additional services: Stripe offers features like 3D Secure Authentication ($0.03 per lookup), chargeback protection ($15 per chargeback), and fraud prevention tools (varied fees).
Criteria for Evaluating POS Solutions
Evaluating a POS solution is a crucial decision for any business, as it directly impacts daily operations and customer experiences.
To ensure that you choose the right system, consider the following key criteria:
Functionality
When evaluating POS solutions, it’s crucial to consider their functionality. Look for core features such as inventory management, sales tracking, and customer relationship management (CRM) capabilities. Additionally, assess any industry-specific tools that may be important for your business.
Pricing Structure
Understanding the pricing structure of a POS system is vital. Consider factors such as monthly subscriptions, transaction fees, and any hidden costs that may affect your budget. Choose a solution that fits within your financial plan.
Ease of Use
The user interface design and setup process play a significant role in the usability of a POS system. Opt for a solution that offers intuitive navigation and a straightforward setup process, ensuring minimal disruption to your operations.
Integration Capabilities
Evaluate the integration capabilities of a POS solution to ensure it can seamlessly connect with third-party applications and systems that your business relies on. API availability is also a key consideration for customization.
Customer Support
Consider the level of customer support offered by a POS provider. Look for solutions that offer strong support and access to resources such as tutorials and FAQs. Reliable support is essential for addressing any issues that may arise.
Payment Processing Options
Assess the supported payment methods and processing fees of a POS system. It’s important to choose a solution that accommodates the payment preferences of your customers while minimizing processing costs.
Security Features
Data protection measures and role-based permissions are critical for safeguarding sensitive information. Select a POS system that prioritizes security to protect both your business and your customers.
Scalability
Consider the scalability of a POS system to ensure it can support your business’s growth. Look for solutions that offer feature expansion options and support for additional locations and transactions.
Customization Options
Tailored solutions that align with your business needs are valuable assets. Evaluate the customization options available, such as personalized dashboards and reports, to ensure the POS system can adapt to your requirements.
Mobile Accessibility
Mobile POS capabilities and device compatibility are essential for businesses with on-the-go needs. Choose a solution that offers mobile accessibility to enhance flexibility and convenience.
Reporting and Analytics
Real-time reporting features and custom report generation options provide valuable insights into your business operations. Select a POS system that offers robust reporting and analytics tools to support data-driven decision-making.
Why Choose a Square Alternative for Small Business?
Square remains a popular choice for small businesses due to its simplicity and ease of use. However, businesses may seek alternatives for several reasons. Common limitations include transaction fees that increase with volume, limited scalability, and the need for more specialized features tailored to specific industries.
Also, the competitive landscape of POS solutions presents numerous alternatives that cater to diverse business needs. Choosing a system that aligns with your long-term business goals is crucial for sustained success.
Wrapping Up
Choosing the right POS system is a critical decision that can impact your business’s efficiency and growth.
Consider your long-term goals and explore alternatives like FTx POS. Designed with a modern edge, FTx POS offers an unrivaled suite of features, including advanced sales tracking, efficient inventory management, and a robust CRM platform that seamlessly integrates into your operations.
Act today and try FTx POS for FREE for qualifying merchants, plus get low processing fees and save thousands each month!
Remember, your POS system should be a tool that empowers your business, aligns with your vision, and supports your growth aspirations. The right choice can be the key to unlocking your business’s full potential.
Learn More Today. Interested in discovering how we can transform your business? Contact us today to schedule a consultation and demo.
FAQs
Looking for companies like Square can be helpful if you need features that better match your business, lower transaction fees, stronger customer support, or tools tailored to your industry. Alternatives may provide more customization options or work better with your existing systems.
Begin by evaluating your business needs, like transaction volume and required features. Compare costs, ease of use, integration options, customer support, and scalability of each choice to see what fits your business best.
Yes, there are alternatives to Square that offer lower fees, especially for businesses with high transaction volumes. Be sure to compare the total cost, including transaction fees, monthly charges, and any hidden costs, to find the most affordable option for your business.
Many Square alternatives are designed to work well with popular ecommerce platforms like Shopify, WooCommerce, and Magento. It’s important to check if the alternative is compatible with your specific ecommerce platform for smooth operations.
As of 2023, Square’s biggest competitors are PayPal, Stripe, and Shopify. These companies provide comprehensive payment processing solutions and features that suit various business models.
While Square has competitive pricing with no monthly fees, it may not always be the most affordable choice based on your transaction volume and business needs. Other processors might offer better rates for high-volume merchants or discounts for specific industries.
Yes, many Square alternatives are great for ecommerce businesses. They offer online store integrations and come with features like secure payment gateways, inventory management, and customer analytics.
Moving your data from Square to another POS system usually involves exporting your existing data from Square and importing it into the new system. Some POS providers can help with migration services or tools. It's a good idea to back up your data and check with the new provider for specific instructions to ensure a smooth transition.
