Helcim vs. Square: Which Payment Processor is Right for Your Business?

Choosing the right payment processor is essential for any business, whether you’re a small retailer or a large enterprise. Two of the most popular options available are Helcim and Square. Both offer robust payment processing solutions, but they cater to slightly different needs. In this article, we’ll compare Helcim vs. Square in terms of features, pricing, and usability to help you make an informed decision.

Overview of Helcim and Square

Helcim

Helcim is a payment processing platform designed for small to medium-sized businesses. Its transparent pricing and robust features make it an attractive option for companies seeking a cost-effective and scalable solution. Helcim focuses on offering a merchant-friendly approach with no hidden fees and volume-based pricing, which can significantly reduce costs for businesses as they grow.

Square

Square, on the other hand, is one of the most well-known payment processors, especially among small businesses and entrepreneurs. It offers a wide array of services, including a free point-of-sale (POS) app, invoicing, and eCommerce tools. Square is known for its ease of use, making it a go-to for businesses that want a simple and straightforward payment solution.

Pricing: Helcim vs. Square

Helcim Pricing

One of Helcim’s biggest selling points is its interchange-plus pricing model. Instead of a flat fee, Helcim charges a small markup above the standard interchange rate, which typically results in lower costs for businesses processing high transaction volumes. There are no monthly fees, setup fees, or cancellation fees, making Helcim ideal for businesses that want transparency in their payment processing costs.

Helcim Pricing Highlights:

• Interchange-plus pricing: The fee varies based on transaction type and card brand.
• No monthly fees for access to the platform.
• Volume-based discounts: The more transactions you process, the lower your processing rates.

Square Pricing

Square offers a flat-rate pricing model, which is simple and predictable. However, this can become more expensive for businesses with a higher transaction volume. Square charges a 2.6% + 10¢ fee for card-present transactions and 2.9% + 30¢ for online transactions. While these rates are competitive, they don’t offer the same volume-based discounts as Helcim.

Square Pricing Highlights:

• Flat-rate pricing: 2.6% + 10¢ for in-person transactions.
• 2.9% + 30¢ for online transactions.
• No monthly fees for using basic payment processing and POS.

Features: Helcim vs. Square

Helcim Features

Helcim offers an extensive range of features, making it suitable for businesses that need a more robust payment solution. Here are some of its standout features:

• Online Payments: Helcim allows businesses to accept payments online with a secure checkout, virtual terminal, and recurring billing.
• Point-of-Sale System: Helcim’s POS system is fully integrated and works across devices, including tablets and smartphones.
• Inventory Management: It comes with built-in inventory tracking tools, ideal for businesses that sell physical products.
• Custom Invoicing: Create and send professional invoices to clients with easy tracking and reporting.

Square Features

Square offers a wide array of tools that are particularly beneficial for small businesses, especially those in retail or hospitality:

• Point-of-Sale App: Square’s POS system is user-friendly and works seamlessly with its hardware.
• Mobile Payments: Square allows businesses to take payments on the go with its mobile card reader.
• eCommerce Integration: Square provides tools to create an online store or integrate with existing eCommerce platforms.
• Invoicing: Like Helcim, Square allows for custom invoicing and easy tracking.

Ease of Use

Helcim Usability

Helcim’s platform is designed to be user-friendly, though it has a steeper learning curve compared to Square due to its advanced features. Setting up online payments, invoicing, and the POS system may take some initial effort, but Helcim’s customer support is highly regarded and can help with the process.

Square Usability

Square is known for its simplicity. Its plug-and-play hardware, coupled with an intuitive interface, makes it a favorite among small business owners who want to get up and running quickly. Square’s dashboard is easy to navigate, even for those who are not tech-savvy, making it the ideal choice for businesses looking for convenience.

Support and Customer Service

Helcim Support

Helcim offers excellent customer service with phone, email, and chat support available. Helcim is often praised for its transparency and willingness to resolve issues quickly, which can be crucial for businesses relying on smooth payment processing.

Square Support

Square’s support is available through phone, email, and live chat, though some users have reported longer response times. Square also has a robust help center with a wide array of articles and guides, making it easier for users to troubleshoot issues independently.

Pros and Cons: Helcim vs. Square

Helcim Pros:

• Transparent interchange-plus pricing.
• Ideal for businesses with high transaction volumes.
• Advanced features for online payments and invoicing.
• No hidden fees or monthly charges.

Helcim Cons:

• Slightly higher learning curve compared to Square.
• May be overkill for very small businesses with low transaction volumes.

Square Pros:

• Flat-rate pricing is predictable and easy to understand.
• Extremely user-friendly POS and payment processing.
• No setup or monthly fees for basic services.
• Excellent for small businesses and startups.

Square Cons:

• Flat-rate pricing can be expensive for businesses with high transaction volumes.
• Lacks the volume discounts that Helcim offers.

Which Payment Processor is Right for You?

Choosing between Helcim and Square comes down to your business needs. If you’re a small business looking for a simple, easy-to-use solution with no upfront costs, Square is likely your best bet. However, if your business is growing and you’re processing higher transaction volumes, Helcim’s interchange-plus pricing and advanced features may offer better long-term value.

Conclusion: Helcim vs. Square

Both Helcim and Square are excellent payment processing options, but they cater to slightly different types of businesses. Square shines for small businesses looking for an easy, all-in-one solution, while Helcim excels for those seeking transparency and lower costs with high-volume processing. Consider your current business size, growth plans, and feature needs when making your decision.

By understanding the strengths and weaknesses of both platforms, you can choose the payment processor that aligns best with your business goals.