Key facts
- •Square charges 1.6% per in-person card transaction for accounts opened from 30 May 2024
- •No monthly fee on the standard plan
- •Hardware purchased outright - starts from $65
- •Custom pricing available for businesses processing over $250,000/year
- •From October 2026, merchants can no longer surcharge customers
- •1.6% rate applies across Visa, Mastercard, EFTPOS, JCB, and Amex
Square fee breakdown
| Type | Fee | Monthly | Hardware |
|---|---|---|---|
| QwikPay | $0.00Zero fees | Free 12 months, then from $19.99/mo | None - QR code only |
| Square in-person | 1.6% | None | From $65 |
| Square Afterpay | 6% + $0.30 | None | From $65 |
Rates are indicative. Square rates shown apply to accounts opened from 30 May 2024. Verify current rates directly with Square.
How much does Square cost per month?
At 1.6% per transaction:
- $10,000/month in card payments = $160/month in fees ($1,920/year)
- $25,000/month in card payments = $400/month in fees ($4,800/year)
- $50,000/month in card payments = $800/month in fees ($9,600/year)
These figures assume all transactions are standard in-person card taps. After October 2026, none of this cost can be recovered from customers as a surcharge.
Square hardware - what does it cost?
| Hardware | Cost | Best for |
|---|---|---|
| Square Reader | From $65 | Low-volume, mobile, market stalls |
| Square Stand | $149 | iPad-based counter setup |
| Square Terminal | Contact Square | Counter service, standalone POS |
| Square Register | $799 | Full retail or hospitality POS |
Unlike Tyro which charges terminal rental, Square hardware is purchased outright. There is no ongoing hardware fee.
Square's software ecosystem
Square offers an extensive suite of business software beyond payments: Square for Restaurants (from $69/month), Square Appointments (free to $79/month), Square for Retail (from $89/month), and Square Online (free plan available). These are optional paid add-ons. The core 1.6% processing fee applies regardless.
October 2026 surcharge ban impact
From 1 October 2026, Square merchants can no longer add a surcharge to Visa, Mastercard, or EFTPOS transactions. Square's 1.6% transaction fee stays. For a merchant currently passing the 1.6% to customers as a surcharge, this represents a direct margin reduction from October.
The RBA's interchange reductions will lower Square's wholesale costs, but whether Square passes these reductions to Australian merchants is not yet published. Contact Square before October to understand your post-ban effective rate.
The only option with $0 transaction fees and instant settlement
Tyro, Square, and Zeller all charge a percentage of every card transaction and settle funds the next business day. QwikPay charges merchants nothing per transaction. Payments are processed through the QwikPay wallet via QR code, not through a card network. No interchange. No scheme fee. No merchant service fee. Settlement is instant and on-demand - withdraw to your bank account whenever you choose, not when your provider decides. QwikPay sits alongside your existing terminal as an additional payment option. Your current setup stays exactly where it is.
Apply free - 12 months free if you sign up before 30 August 2026Frequently asked questions
What does Square charge per transaction in Australia?
Square charges 1.6% per in-person card transaction in Australia for accounts opened from 30 May 2024. This flat rate applies across Visa, Mastercard, EFTPOS, JCB, and American Express.
Does Square charge a monthly fee in Australia?
No. Square's standard plan has no monthly fee. Square offers paid software plans such as Square for Restaurants with monthly fees for additional POS features, but the payment processing fee of 1.6% applies regardless.
How much does Square hardware cost in Australia?
Square hardware starts from $65 and is purchased outright with no rental fee. Square also offers a Stand, Terminal, and Register at higher price points. Interest-free instalment plans are available.
Does Square offer custom pricing in Australia?
Yes. Square offers custom pricing for businesses processing over $250,000 per year in card payments. Contact Square directly to discuss a negotiated rate based on your volume.
What happens to Square surcharges after October 2026?
From 1 October 2026, Square merchants can no longer add a surcharge to Visa, Mastercard, or EFTPOS transactions. Square's 1.6% transaction fee continues and comes out of the merchant's margin.
Can I use QwikPay alongside Square?
Yes. QwikPay is an additional payment option that sits alongside your Square terminal. Your Square hardware stays exactly where it is.
Is Square cheaper than Tyro in Australia?
Square is cheaper than Tyro for merchants processing under approximately $14,500 per month. Above that threshold, Tyro's lower 1.4% rate outweighs its terminal rental cost.