At a glance, side by side
This page compares Square and Stripe in Canada, using their Canadian pricing pages and terms. Every row comes from each provider’s own published pages, checked on the date shown in the sources. Where a provider does not publish something, the table says so.
| Square (Canada) | Stripe (Canada) | |
|---|---|---|
| Pricing model | Flat rate, same for every credit card brand | Flat rate on standard pricing; custom pricing (including IC+) for large volume |
| Credit card, in person | 2.5% | 2.7% + CA$0.05 (“most cards”) |
| Debit, in person | 0.75% + 7¢ | CA$0.15 per Interac transaction |
| Online | 2.8% + 30¢ | 2.9% + CA$0.30 (domestic cards) |
| Keyed in or card on file | 3.3% + 15¢ | +0.5% for manually entered cards |
| Cards from other countries | +1.5% | +0.8% online; 3.5% + CA$0.05 in person |
| Monthly fees | Free plan $0; Plus from $35 a month; Premium custom | “No setup fees, monthly fees, or hidden fees” |
| Payouts | Free, “as soon as the next business day” (the pricing page also says one to two business days); instant for 1.95% | Stripe’s two pages word it differently. Payouts docs: first payout 7 calendar days, then 3 business days. Support article: 7 business days on the first payout, then “generally 3 business days”. The 3-business-day speed is for eligible accounts, per Stripe. Instant Payouts 1% (minimum CA$0.60) |
| Dispute fee | “There are no fees for dispute management services for chargebacks” | CA$15 received; CA$15 countered (returned if won) |
| Refunds | “the processing fees for the payment aren’t refunded back to you” | “Stripe’s processing fees from the original transaction aren’t returned” |
| Card reader | Square Reader $69; Terminal $399 | BBPOS WisePad 3 CA$79; Stripe Reader S700 or S710 CA$419 |
| Phone as a reader | Not listed on the Canadian pricing page we read | Tap to Pay: +CA$0.15 per authorisation |
| Contract | “No long-term contracts or equipment fees. Cancel anytime.” | May terminate “at any time by closing its Stripe Account” |
| Fee-change notice | Not listed on the pages we read | “at least 30 days’ notice” of fee increases or new fees |
| Who holds the agreement | Square Canada, Inc. | Stripe Payments Canada, Ltd., a payment facilitator of Peoples Trust Company and PNC Bank Canada |
How each one prices
Both use flat-rate pricing: one published rate per type of sale. Interchange (the fee that goes to the customer’s bank) and network fees are inside that rate.
- Square says: “You pay the same base rate for every credit card.” Its support article says fees are taken from the total “including tax and tip.”
- Stripe lists “Custom” pricing for “businesses with large payments volume”, including “IC+ pricing” (interchange plus). Those rates are not published.
More: Flat Rate vs Interchange Plus vs Tiered.
What the statements look like
On flat rate, each sale shows one fee. Square’s support article says fees are deducted before money is sent to the bank, and can be seen by location in the Square Dashboard. Stripe’s pricing page says its Dashboard shows “upcoming payouts, expected deposit dates, payout history, and more.”
Contracts and cancellation
- Square: “Square has no long-term contracts or equipment fees. Cancel anytime.”
- Stripe: “User may terminate this Agreement at any time by closing its Stripe Account via the Stripe Dashboard.” Stripe says it gives “at least 30 days’ notice of any increase in a Fee or any new Fees.”
Hardware and software costs
| Square (Canada) | Price | Stripe (Canada) | Price |
|---|---|---|---|
| Square Reader (2nd generation) | $69 | BBPOS WisePad 3 | CA$79 |
| Square Terminal | $399, or $34 a month over 12 months | Stripe Reader S700 | CA$419 |
| Square Register (2nd generation) | $999, or $84 a month over 12 months | Stripe Reader S710 | CA$419 |
Square’s point of sale app has a $0 Free plan, with paid plans from $35 a month. Stripe sells payments; its Terminal page says it works “with most POS systems.”
What each one charges extra for or leaves out
- Square: +1.5% for cards issued outside Canada, 1.95% for instant transfers, 6% + 30¢ for Afterpay.
- Stripe: +0.5% for manually entered cards, +0.8% for international cards online, +2% for currency conversion, 1% for Instant Payouts, CA$15 dispute fees, 30% of won disputes with Smart Disputes.
Sources, and when we checked them
Every source is listed below the article with the date it was checked. Provider pages: Square and Stripe.
Where to go from here
The card fee calculator works out each provider’s rates against a given level of monthly sales. Other side-by-sides: Helcim vs Square and Stripe vs Helcim.
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