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It's a split decision.
Choose Square if you need point of sale for in-person and online sales, plus seller tools for teams, marketing and cash flow. Choose Wave if bookkeeping, invoicing, financial reports and tax-ready records matter more. Wave lists a free Starter plan and Pro at $19 monthly or $190 yearly. Square lists a free plan, but its subscription prices aren’t published in the published pricing details. Square’s processing fees also aren’t listed here, so compare payment costs before switching.
01Side by side
| Square | Wave | |
|---|---|---|
| Starting price | Free plan; paid subscription prices not published | $0 Starter; Pro from $15.83/month billed yearly |
| Free plan | Square Free includes POS, online site and invoicing | Starter includes unlimited invoices and bookkeeping records |
| Best for | Sellers needing in-person and online POS | Small businesses managing bookkeeping and invoices |
| Core strength | POS, team tools, marketing and cash flow | Bookkeeping, invoicing, payments and payroll |
| Learning curve | Not published | Not published |
| Integrations/data | App partnerships and business insights via Square AI | Pro bank imports and financial reports |
| Team/seat costs | Team tools; seat prices not published | Payroll from $25/month with Starter; seat pricing not stated |
| Support | 24/7 phone support on Premium | Bookkeeping support; response hours not stated |
Square Choose Square if
- Choose Square if you sell in person and online.
- Choose Square if you need POS and team tools together.
- Choose Square if Premium’s 24/7 phone support fits your needs.
Wave Choose Wave if
- Choose Wave if you want a free bookkeeping starting point.
- Choose Wave if Pro’s bank imports and automation fit your workflow.
- Choose Wave if you need invoices, payments and payroll in one product.
02Pricing compared
Wave lists a free Starter plan and Pro at $19 monthly or $190 yearly ($15.83 per month). Starter card payments cost 2.9% + $0.60, or 3.4% + $0.60 for Amex. Pro card payments are 2.9% + $0 for the first 10 transactions each month. After that, check Wave’s current terms before comparing processing costs. Add-ons include digital receipts from $11 monthly on Starter or $8 on Pro, and payroll from $25 or $40 monthly, respectively.
Square also lists a free plan, but its subscription prices and processing fees are not published on the vendor's site. Square Plus includes 500 free marketing texts, then 3¢ per text; Premium includes 2,500, then 1.5¢ each. Square Pro offers custom pricing for businesses processing over $250,000 yearly. Compare total payment and add-on costs, not just the free-plan label.
03Features and depth
Square is built around selling: it covers in-person and online point of sale, with additional tools for teams, marketing, loyalty, and cash flow. Its plans list POS features, a website, invoicing, booking, and accounts; higher tiers add advanced POS features, loyalty rewards, email campaigns, reporting, and support. Square also promotes app connections and Square AI for business insights.
Wave centers on bookkeeping and financial admin. Its overview includes income and expense tracking, reports, receipt management, invoicing, estimates, deposits, online payments, and payroll. Pro adds bank transaction imports and categorization, receipt capture, and late-payment reminders. Wave Advisors adds a dedicated bookkeeper and monthly financial statements, while separate bookkeeping help is also available as an add-on.
These tools overlap on payments and invoicing, but they are not like-for-like. Square’s published details do not establish it as a full bookkeeping product; Wave’s do not describe a comparable point-of-sale suite for in-person selling.
04Ease of use and learning curve
The published reviews score Square’s ease of use at 8 and Wave’s at 7. Those scores suggest a slight edge for Square, but they are review scores, not a guarantee that either product will fit your workflow.
The practical choice depends on what you need to set up. Square spans point of sale, online selling, team administration, and marketing. Wave focuses on bookkeeping, invoices, payments, and payroll, with optional paid help from advisors. Switching means comparing not only the interface but also the records and processes you need to move. The published material does not specify migration tools or switching steps for either product, so confirm those before committing.
Questions people ask
Is Square considered a fintech company?
Square provides payments, point of sale, online sales, and other business tools, so it fits a broad payments-and-business-software description. The published material does not formally classify it as a fintech company. We would describe its products rather than treat that label as confirmed.
What is the downside of using Square?
The published review advises checking payment costs and account-risk trade-offs before choosing Square. Its pricing details here do not publish processing fees or subscription prices for the listed plans, which makes total cost harder to compare upfront. Confirm current fees and account terms before switching.
Can Wave replace Square?
It depends on the job. Wave’s listed strengths are bookkeeping, invoicing, financial reports, payments, and payroll. Square is the clearer fit in the published material for in-person and online point of sale, plus seller tools for teams and marketing. Compare your required workflows before replacing either.
Do Square and Wave both have free plans?
Yes. Square lists a free plan, though the published pricing details do not publish subscription prices for its paid plans. Wave’s Starter plan is listed at $0 per month, with Pro at $19 monthly or $190 yearly. Payment processing and add-ons can still affect Wave’s total cost.