Credit Card Processing Solutions
Top Companies in 2024
Helcim vs Square
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- Specialized solutions for SaaS and large companies
- Allows surcharging
- Learning and resource availability
- Improved cash flow
- Volume discounts
- A large variety of payment methods for both online and in-person payments
- Comprehensive third-party integrations such as Xero, Quickbooks Online
- Quick sign-up and approval
- Many hardware options
- Free introductory option
- Transparent pricing
- Free proprietary mobile app
- One-stop shop for payments, payroll, and marketing solutions
- Free 30-day trial for Plus plans
- Extensive third-party software integrations
- Not suitable for high-risk merchants
- Doesn't support high-risk businesses
- Reports of frozen funds
- May not suit high transaction volumes
Helcim is a Canadian credit card processing and merchant services company founded in 2006 and headquartered in Calgary, AB. They are a fast, secure, and reliable credit card processor that provides payment solutions to more than 20 countries and all business types worldwide. They provide various services, including online payments, point-of-sale systems, virtual terminals, and mobile payments. Helcim provides several transaction processing alternatives and accepts worldwide credit card payments, recurring payments, and invoices. They do not require clients to get into lengthy contracts and offer affordable interchange-plus rates, which is their specialty pricing model. That model comes with built-in volume discounts and a suite of free payment processing tools. They are generally well-reviewed, getting a 4.2/5 on Trustpilot, and have an excellent reputation among clients, who praise their support's straightforward and helpful nature and fast service. They are up-front about their no-contract processing fees and hardware costs on their website.
Square is a leading financial services and digital payments company owned by Block Inc, which is a financial services and technologies company that also deals in blockchain. Square was founded in 2009 by Jack Dorsey and Jim McKelvey and has become a common way for businesses to accept credit card payments and use phones or tablets as payment registers for a point-of-sale system. They cater to all business types and sizes and offer their clients a comprehensive list of tool integrations and hardware. Square offers a range of transaction-processing options and supports invoicing, recurring payments, and international credit card payments. They have a great reputation among clients for their responsive customer support and the flexibility they offer to clients with their many tools and software and have a 4.3/5 on Trustpilot. There are many things to consider when it comes to costs with Square, but their website lists pricing and processing fees clearly. They offer three plan tiers, including a free one where they only charge processing fees for accepted payments.
- Transaction Speed : 2 days
- Customer Experience : Good
- Transparent Pricing : True
- Pricing Model : Interchange-Plus
- Trustpilot Score : 4.2 out of 5
- BBB Rating : A+
- Transaction Speed : 1-2 days (same-day available at an added fee)
- Customer Experience : "True"
- Money-Back Guarantee : True
- Gift Cards : Available
- Real-Time Reports : Available
- Transparent Pricing : Available
- Pricing Model : Fixed monthly fee, Interchange plus
- Trustpilot Score : 4.3 out of 5
- BBB Rating : A+
- Protected and secure payments with Helcim Fraud Defender and data encryption
- Multiple payment options include in-person, online, in-app, and over-the-phone payments
- Transparent pricing policy and no hidden fees
- Free features such as payment gateway and PCI compliance
- Competitive flat-rate transaction fees
- Jam-packed mobile app for both Android and Apple devices
- Billing & Invoicing
- Electronic Receipts
- Free Hardware
- Mobile Card Reader
- Multiple Payment Gateways
- Recurring Payments & Billing
- Reporting & Analytics
- Virtual Terminal
- Billing & Invoicing
- Electronic Receipts
- Free Hardware
- Mobile Card Reader
- Multiple Payment Gateways
- Recurring Payments & Billing
- Reporting & Analytics
- Virtual Terminal
- EMV Compliant
- Payment Fraud Protection
- PCI Compliance
- EMV Compliant
- Payment Fraud Protection
- PCI Compliance
- Annual Subscription
- Free Trial
- Freemium
- Monthly Subscription
- One-Time License—Undisclosed
- Annual Subscription—Undisclosed
- Free Trial
- Freemium
- Monthly Subscription
- One-Time License—Undisclosed
- Processing Services
- Accounting Software
- POS
- Productivity Software
- Processing Services
- Accounting Software
- POS
- Productivity Software
- ACH Processing
- Cash Transactions
- Credit Card Terminals
- Electronic Signature—Undisclosed
- In-Person Payments
- Mobile Payments
- NFC Payments
- Online Payment Procesing
- ACH Processing
- Cash Transactions
- Credit Card Terminals
- Electronic Signature
- In-Person Payments
- Mobile Payments
- NFC Payments
- Online Payment Procesing
- Demos
- FAQs
- Help Guides
- Live Chat
- Mobile Application
- Phone
- Tickets
- Demos
- FAQs
- Help Guides
- Live Chat
- Mobile Application
- Phone
- Tickets
Helcim vs. Square
Helcim and Square stand out as prominent credit card processing solutions, each bringing a unique array of benefits to the table. This comparison article delves into the key aspects of value-added benefits, usability, level of data security, and pricing to guide businesses toward selecting the optimal solution that aligns with their specific needs and preferences.
Value-added benefits
Helcim and Square provide valuable features for businesses. Both platforms offer seamless integration with third-party software, website builders, and custom shopping cart API integrations, enhancing adaptability to existing business systems. Square, however, goes beyond a basic website builder, allowing users to create and publish e-commerce stores effortlessly.
Helcim sets itself apart by offering multi-currency support, enabling businesses to accept payments in various currencies for enhanced international transactions. On the other hand, Square provides a comprehensive suite of tools, including advanced analytics, insights, inventory and customer management, and employee time card tracking to achieve a holistic approach to operational management. Both platforms prioritize recurring billing, real-time transaction monitoring, and integration, providing businesses with robust solutions tailored to their payment processing needs.
Usability
Helcim and Square provide users with a range of flexible payment options, including credit card, debit card, and contactless payment methods, giving businesses the versatility they need to cater to diverse customer preferences. Both companies also offer exclusive payment gateways, enhancing the efficiency and security of transaction processing.
Regarding platform accessibility, Helcim offers an intuitive dashboard, simplifying user navigation and management. On the other hand, Square earns praise for their quick and easy setup process, allowing businesses to integrate and utilize their platform promptly. Helcim and Square also provide real-time transaction monitoring, ensuring that payments are processed seamlessly in record time.
Level of data security
Comparing Helcim and Square's data security reveals two unique approaches to safeguarding customer payment information. Helcim focuses on secure data management, utilizing features like Card Tokenization, which securely stores sensitive credit card information on their servers, inaccessible from merchants' systems. The PCI-compliant Credit Card Vault is another key aspect of Helcim's security infrastructure, offering integrated and fee-free storage for credit cards. Helcim adheres to PCI DSS guidelines and voluntarily follows NIST guidelines. Unlike Square, Helcim requires merchants to meet PCI regulations and provide assistance for PCI certification.
On the other hand, Square prioritizes data security through encrypted payment data, starting from the moment a customer uses a credit card. Square is PCI compliant, managing PCI compliance on behalf of their merchants to simplify the process and reduce costs. Encryption and secure hardware are integral to their security structure, with end-to-end encryption provided by default. Square ensures timely security updates and patches, and dedicated security teams are involved in all stages of product delivery.
Pricing
Helcim and Square employ vastly different pricing strategies. Helcim adopts an interchange-plus pricing structure, incorporating a modest markup over the fees charged by credit card networks like Mastercard and American Express. Their average rates for in-person transactions stand at 1.8% + 8 cents, while online transactions are priced at 2.4% + 25 cents. The absence of monthly fees in combination with automatic discounts for businesses with higher processing volumes enhances Helcim's affordability.
On the other hand, Square employs a fixed-rate pricing system tied to specific plans. The fees range from 2.5% + 10 cents to 2.9% + 30 cents, depending on the transaction type and plan. Square deducts processing fees before transferring funds to the linked bank account. The company provides various plans tailored to businesses at different stages, with prices ranging from $0/mo to $79/mo. While Square's fees are generally higher than those under interchange-plus pricing, they offer an all-encompassing processing ecosystem built on exclusive products and services.
In summary, when considering credit card processing options, Helcim and Square offer distinct strengths that set them apart in the industry. Helcim’s multi-currency support offers businesses enhanced flexibility, while Square distinguishes itself through a comprehensive suite of tools that contribute to holistic operational management. Prioritizing user-friendly experiences, Helcim features an intuitive dashboard, and Square facilitates a rapid setup process. Helcim utilizes features like card tokenization to address data security, while Square focuses on encrypted payment data. In terms of pricing, Helcim adopts an interchange-plus model with transparent details, contrasting with Square's fixed-rate plans. Ultimately, businesses must carefully weigh these factors to make an informed choice tailored to their specific needs in the dynamic credit card processing landscape.
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