Several times a day, FeeFighters users ask us, “Which is better for me, Square or a traditional credit card processor?” To make life easier, we created the Square Calculator, a tool which lets business owners quickly and easily see which choice is more cost effective for their situation: Square or a merchant account. There’s no signup or lead generation form; merchants can see which option is better for their business clearly and in a matter of seconds.

Below is a screenshot which shows the side-by-side, apples-to-apples comparison that business owners see when they enter in their information.

The Square Calculator works by comparing the main drivers of fees – average transaction size and monthly volume of the merchant.  It also gracefully handles the case of a merchant already owning an iOS device, such as an iPhone or iPad, in the cost comparison calculation.  In addition, merchants who want to see a more exact comparison based on their particular credit card mix of credit, debit, reward, and business credit cards can do so – again with no signup or personal information required.

The Square Calculator then takes these inputs and runs a real-time fee analysis between Square’s rates and an average of the credit card processors that participate in the FeeFighters.com comparison shopping marketplace for merchant accounts.  Because the rate structures for Square and merchant accounts vary widely, the Square Calculator relies on FeeFighters’ proprietary software to translate between these different pricing mechanisms to provide an apples-to-apples comparison.

Check out the calculator, then start an auction on FeeFighters to get bids from credit card processors.

Check out the official press release here or feel free to email me with questions or feedback:  stella@feefighters.com