Helcim and Square both target small businesses, but they take fundamentally different approaches to pricing. Square uses simple flat-rate pricing that's easy to understand. Helcim uses interchange+ pricing that's cheaper at higher volumes but more complex. Both charge no monthly fees, making them accessible to businesses of all sizes.
Pricing Models
Square charges a flat 2.9% + $0.30 online and 2.6% + $0.10 in-person. Every transaction costs the same regardless of card type or volume. Helcim charges interchange + 0.50% + $0.25 online, which works out to roughly 2.3% + $0.25 total for a typical credit card transaction. Additionally, Helcim offers automatic volume discounts — the more you process, the lower Helcim's markup becomes.
Cost Comparison by Volume
On a $100 online transaction, Square takes $3.20 and Helcim takes approximately $2.55. That's a $0.65 savings per transaction with Helcim. At $10,000/month in processing, you'd save roughly $65/month or $780/year with Helcim. As volume increases, Helcim's automatic discounts widen the gap further.
Business Tools and Ecosystem
Square's ecosystem is its biggest differentiator. Free POS software, free card reader, inventory management, team scheduling, appointment booking, customer directory, basic payroll, and a free online store builder. Helcim offers a free POS app, online store builder, and invoicing tools, but its ecosystem is less mature than Square's. Square's app marketplace and third-party integrations are also significantly broader.
Which Is Right for You?
If you prioritize low processing costs and process $5,000+/month, Helcim's interchange+ pricing will save you real money. If you need a comprehensive business platform with integrated POS, team management, and a broad app ecosystem, Square's higher fees buy you a lot of convenience. For new businesses just starting out, Square's simplicity and free tools may be more valuable than Helcim's cost savings.