Square vs Helcim
Square charges flat 2.6% + 10¢ regardless of card type. Helcim charges interchange (actual card cost) plus a small markup. For debit-heavy or B2B businesses, Helcim often saves 20-30%. For small retail with mixed cards, Square's simplicity wins.
Our Verdict
Helcim wins on pure cost for most businesses above $10k/month in processing—especially B2B and debit-heavy businesses. Square wins on features, simplicity, and for businesses under $10k/month where the savings don't justify the switch.
Best for:
Feature Comparison
| Feature | Square | Helcim | Winner |
|---|---|---|---|
| Pricing model | Flat rate 2.6% + 10¢ | Interchange + 0.3-0.5% + 8¢ | Helcim |
| Monthly fees | $0 | $0 | Tie |
| POS features | Excellent, full-featured | Basic but functional | Square |
| E-commerce | Good, integrated | Basic online store | Square |
| Invoicing | Excellent | Good | Square |
| Pricing transparency | Simple but higher | Complex but lower | Helcim |
| Hardware | Great options | Limited options | Square |
| ACH payments | 1% (min $1) | 0.5% + 25¢ | Helcim |
Square
Pros
- ✓Predictable pricing
- ✓Superior POS software
- ✓Better hardware
- ✓More integrations
Cons
- ✗Higher effective rate for most
- ✗Overpay on debit cards
- ✗No rate negotiation
Helcim
Pros
- ✓Lower actual rates
- ✓Automatic volume discounts
- ✓Transparent breakdown
- ✓Great for B2B
Cons
- ✗POS less sophisticated
- ✗Fewer hardware options
- ✗Complex statements to read
- ✗Less polished interface
In-Depth Analysis
The Math on $25,000/Month
At $25k monthly with average card mix: Square costs ~$700 in processing. Helcim costs ~$525-575. That's $1,500-2,000 saved annually. But Square's POS features might save you time worth more than that. Calculate your effective hourly value before switching for rates alone.
The Debit Card Factor
Debit cards have low interchange (~0.5%). Square charges 2.6% anyway—you're overpaying by 2%+ on every debit transaction. If 40% of your transactions are debit (common in QSR, grocery), Helcim saves significantly. Check your transaction mix before deciding.
The Feature Gap
Square's free POS is genuinely excellent—inventory, team management, appointments, e-commerce. Helcim's POS works but isn't in the same league. If you'd need to buy additional software to replace Square's features, factor that cost against processing savings.
Frequently Asked Questions
How much do I need to process for Helcim to make sense?
Generally $10k+/month. Below that, the savings are small (<$50/month) and Square's superior features are worth more. Above $25k/month, Helcim's savings become substantial.
Can I understand interchange pricing?
It's learnable but not simple. You'll see different rates for Visa debit vs Amex vs corporate cards. Helcim's statements show the breakdown. Most business owners check monthly totals rather than transaction-level details.