Square
Online payments bolted to the same account as the card reader — one balance, one dashboard, and no way to separate the gateway from the acquiring.
- Provided by
- Square
- Category
- Acquirer-tied
Tied. Square is both a principal acquirer and a payment facilitator, and its online payments settle through Square either way.
- Status
- Current
- Also acquires
- Yes — Square is an acquirer too
Square’s online payments are an extension of the account a merchant already has for the counter rather than a separate product. For a business selling both ways that is the attraction: one balance, one dashboard, one settlement, and the online and in-person numbers add up without reconciliation.
It is a Visa and Mastercard principal acquirer and, by its own admission, a participant in eftpos but not a member — a distinction that matters for least-cost routing and that most merchants never hear about.
The gateway settles through Square. There is no arrangement where the checkout stays and the acquiring moves, which is the standard trade for everything in this category.
What it costs
Square does not publish gateway fees for Square. The merchant service fee is negotiated on your volume and card mix. Find out what yours should be.
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