Square merchant fees Australia 2026: the full breakdown

Square fee breakdown

• The 1.6% in-person rate does not apply to every account, product or channel. Account age, hardware, payment channel and any custom pricing change the rate, as set out in Square's help article on fees.
• Older accounts using Square for Appointments, Retail or Restaurants may be on different processing fees. Sellers on paid software plans that offer a 1.6% rate receive it regardless of sign-up date.
• Payments made with credit or debit cards issued outside Australia incur a 1.5% international transaction fee in addition to Square's base processing fees. Square says it applies to in-person, online, card-not-present and Square API transactions on all plans, and does not apply to alternative payment methods such as Afterpay.
• Custom rates may be available if annual sales exceed $250,000 and the average ticket size is over $15. Eligibility is not automatic.
• Square's published rates can change. Verify current rates directly with Square.

How much does Square cost per month?

At the eligible standard in-person rate of 1.6%, on the Free plan:

• $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 constant monthly volume for the annual totals. They exclude hardware, paid software, Afterpay, online and manually entered payments and any other charges, and they do not cover every Square merchant. After 1 October 2026, covered card costs cannot be recovered from customers through a separate prohibited surcharge.

Square hardware - what does it cost?

Square hardware can be bought outright, and Tap to Pay lets you accept contactless payments on a compatible smartphone without buying a reader. Square's pricing page advertises interest-free instalment plans on hardware, subject to eligibility and Square's terms, and does not clearly state GST treatment for hardware prices, so confirm with Square. Square Stand needs a compatible iPad, which is sold separately, according to Square's Stand page.

Tyro offers rented-terminal products and a BYO smartphone option, so the hardware cost comparison depends on which products you would use. See the Tyro vs Square comparison.

Square's software plans

Software subscriptions are optional and separate from payment-processing fees. Each product has its own plans and prices.

Square Online has its own plans. Check Square's pricing page for current Square Online pricing. The plan prices above are per location, and Square sets out each plan on its Restaurants, Appointments and Retail pricing pages. Plan prices can change.

Square transfer fees

Square's pricing page advertises free next-day transfers to an external bank account, including weekends. Optional instant transfers cost 1.95%. The $5 figure is the minimum transfer amount, not a minimum fee, and instant transfers are limited to $5,000 per day and require a linked, eligible bank account.

Transfer speed, when funds become available and the payout schedule can be different steps, and paid instant transfers are not free. Confirm the conditions that apply to your account with Square.

October 2026 card-surcharge changes impact

From 1 October 2026, Visa, Mastercard and eftpos no-surcharge network rules apply following changes by the RBA, and American Express has indicated it will remove surcharging from the same date. These rules operate through card networks, payment providers and merchant agreements and are set by the card networks. Square's processing fees continue. Covered card costs cannot be recovered through a separate prohibited surcharge, though not every payment method is covered and merchants can still set their own overall prices.

Many merchants already absorb some or all of their card costs or reflect them in overall pricing, so the effect on margin varies. Check your agreement with Square for how your rates apply.