Helcim VS Square

At $109, the Helcim Card Reader is a very affordable and multifunctional device. For mobile payments, you can connect it to your smartphone or tablet via Bluetooth, allowing you to take credit cards just about anywhere. It can also connect to a Windows or Mac desktop or laptop for use with the Helcim Point of Sale system. The Helcim Card Reader supports EMV, NFC, and PIN debit payment methods (but not magstripe) and includes a free countertop stand and charging cable.

If you’d prefer something more modern and with a lot of extra capabilities, Helcim is introducing the Helcim Smart Terminal in Summer 2023. This wireless device includes a color touchscreen, support for EMV, NFC, and PIN debit payment methods (again, magstripe is not supported), and a built-in thermal receipt printer. It also comes with basic POS functionality, including inventory management and access to your customer database. The Helcim Smart Terminal will cost $349.

Square also offers a variety of card readers and terminals, each of which includes unique features. Here’s a very brief overview of your choices:

• Square Reader For Magstripe: Free with each account, supports magstripe payments only
• Square Reader For Contactless + Chip: $49; supports EMV and NFC payments, but not magstripe
• Square Stand: $149; requires 10.2″ or 10.5″ iPad (sold separately)
• Square Terminal: $299; standalone terminal that supports magstripe, EMV, and NFC payments
• Square Register: $799;  standalone POS system with second customer-facing display

For more detailed information on Square’s line of processing hardware, please see our complete buyer’s guide to Square POS hardware.

Virtual Terminal

Both Square and Helcim include a free virtual terminal as part of their point-of-sale software package. Virtual terminals are primarily used to manually key in transactions when taking an order over the phone or through the mail but can also be used with a compatible card reader for in-person transactions.

Helcim’s and Square’s virtual terminals offer similar features, including the ability to integrate with each company’s integrated payments platform and compatibility with their proprietary card readers.

Customer Database

Both companies offer a built-in customer database that allows you to store your customers’ card payment data, so they won’t have to re-enter it every time they make an online purchase.

Customer databases can also integrate with business analytics features for a more in-depth look at who your customers are and what they’re purchasing.

Inventory

Helcim and Square both offer an inventory management feature as part of their integrated payment platforms.

While Helcim’s inventory management is somewhat basic, Square offers more advanced capabilities through its Square for Retail specialty program. Although a free version is available, you’ll need to pay $60/month/location for the Square for Retail Plus Plan, which adds important features such as an inventory counting tool, inventory history, and smart stock forecasting.

For a more in-depth look at Square’s POS system, please see our full review of the Square POS app.

Helcim and Square offer an online store that’s designed to be an out-of-the-box solution for any merchant looking to launch an eCommerce business. Both companies include web hosting and domain registration, saving you the expense of signing up with a third-party vendor (and paying a recurring fee).

However, if you want free domain registration, you’ll have to be content with a domain name that includes either Helcim or Square. Square offers custom domain registration that drops the ‘squareup’ from your URL, but you’ll have to sign up for a paid plan. These cost $12-$72/month if paid annually. However, they offer a tremendous number of additional features and customization options that you won’t get with the free plan. Helcim, on the other hand, doesn’t appear to offer custom domain registration or a paid eCommerce plan with additional features.

While Helcim’s and Square’s online stores feature a customizable, proprietary shopping cart, they can also integrate with popular third-party carts (e.g., BigCommerce, WooCommerce, etc.). If you already have a favorite shopping cart and want to ensure that it’s compatible with Helcim or Square, your best bet is to contact the company’s sales team for more information.

Helcim and Square also include several online security features to protect your customers’ payment data and help with PCI compliance, including tokenization and encryption. Note that as a payment service provider, Square handles all PCI compliance requirements for its shared merchant account; Helcim provides PCI compliance services (including quarterly security scans and assistance with the Self-Assessment Questionnaire) for your individual merchant account. Neither company charges a PCI compliance fee or a PCI non-compliance penalty.

Helcim and Square both offer a variety of alternative payment methods in addition to standard credit and debit card processing. Both companies include support for the following payment methods at no additional cost:

• ACH Processing: Unlike many other providers, Helcim and Square include ACH processing as a standard feature of each account. While you won’t have to pay an additional monthly fee for this service, you will pay a modest per-transaction processing fee for each ACH transfer received.
• Payment Links & SMS Payments: Both companies also support using payment links as part of their online invoicing services. Links can be sent to customers for payment using either email or SMS messaging.
• QR Code Payments: Both companies support QR code payments. QR codes can be posted on your website or printed out and displayed in your retail store. While there’s no charge for this service, you’ll still have to pay the applicable payment processing fees, depending on how your customers choose to pay you.

Note that Square also offers support for social media selling and cryptocurrency payments, whereas Helcim currently does not support these payment methods.

With monthly or annual subscriptions being a popular way to pay for products or services these days, it’s important to have a recurring billing feature as part of your overall payments processing strategy. Both Helcim and Square offer very similar recurring billing services that include the following features:

• Included for free with each account
• Ability to store customer payment information in a card vault
• Ability to customize the frequency of recurring payments
• Automatically generate invoices for each recurring payment
• Automatically prompts the customer for updated card information when the card on file is about to expire

If your business relies heavily on recurring billing to maintain a positive cash flow, we recommend Helcim over Square for this feature. Square’s recurring billing feature is somewhat limited in customization options and closely tied to the Square Invoicing feature.

Helcim, on the other hand, offers many additional options, such as support for free trials, prorated billing, metered billing, and the ability to handle setup, registration, and other one-time fees that might be included in a customer’s subscription.

Helcim and Square both offer invoicing software with every account.

While both companies offer similar features and capabilities, Square’s free invoicing plan is quite basic and limited. You’ll need to sign up for the Square Invoicing Plus plan to unlock more powerful features, including customization options. At $20/month, it’s only a good option for businesses that rely primarily on invoices to get paid by their customers.

Helcim’s free invoicing software includes more features (including automatic tax calculation) but can’t be upgraded if you need something more powerful.

Remember that while you can access invoicing software for free with either company, you’ll also have to pay all applicable credit and debit card processing fees when receiving customer payments.

Helcim offers a number of third-party integrations, including support for QuickBooks, numerous online shopping carts (Magento, WooCommerce, and Foxy.io), and the Great Exposure billing system.

Square, on the other hand, offers a complete Square App Marketplace with support for QuickBooks and dozens of other third-party services for various business types.

If your business requires access to numerous third-party integrations, Square is the clear winner in this area. Be aware that with either provider, third-party services often require additional subscription fees charged by their respective service providers.

Customer support is often the secret ingredient that lifts one provider above others in terms of overall service. Inadequate customer support has long been Square’s main weakness, but the company has made tremendous improvements in this area in recent years. Both Square and Helcim offer the following customer support options:

• Telephone support
• Email support
• Online knowledgebase
• Videos and tutorials

Helcim offers true 24/7 phone support, while Square’s phone support is only available Monday through Friday, 6 AM to 6 PM Pacific Time. Neither company has a live chat option or a dedicated support representative assigned to your account.

Overall, Helcim has the edge in this area due to the higher quality of support offered, as reported by its users.

Square and Helcim are both excellent credit card processors for small businesses. However, neither company is a clear winner for all merchants. Whether Square or Helcim will be the best choice for your business will depend on your monthly processing volume and the specific needs of your business.

Because Square and Helcim use different methods for determining credit card processing fees, neither company is consistently cheaper for all users. Square’s flat-rate pricing structure is generally less expensive for very low-volume businesses, whereas higher-volume merchants will usually save more money with Helcim’s interchange-plus pricing. Also, Square’s processing hardware options are usually less expensive than similar products offered by Helcim.

While both Helcim and Square specialize in serving the needs of the small business community, Helcim offers full-service merchant accounts, whereas Square is a payment service provider (or third-party payment processor) that aggregates all users into a single merchant account. Also, Helcim offers interchange-plus pricing to all merchants, while Square uses a flat-rate pricing structure.

Square offers the fastest account sign-up process, allowing merchants to apply online and be approved almost instantly. Helcim, on the other hand, requires a full underwriting process before an account will be approved. Because Square does not fully underwrite accounts before approval, its accounts are at a higher risk of holds, freezes, and terminations once the merchant begins accepting credit card payments than Helcim’s.