Revolut vs Square UK 2026: Fees, Features & Which to Choose

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Revolut and Square are two of the most recognisable card payment providers for UK small businesses in 2026, but they suit very different needs. Revolut charges 0.8% per transaction on its paid plans and bundles payments into a broader business banking app, making it a strong fit for businesses that already use Revolut for banking or international transfers. Square charges 1.75% per in-person transaction with no monthly fee on its free plan, and its real strength is a polished point-of-sale system backed by free hardware for new sign-ups. If you take payments mainly in person and want simple flat-rate pricing with no monthly commitment, Square is hard to beat. If you want payments and business banking in one place, or you trade internationally, Revolut is worth a serious look.

Revolut vs Square: Fee Comparison

What is Revolut?

Revolut launched in 2015 as a prepaid travel card and has grown into a full business banking and payments platform used by over 500,000 UK businesses. Its payments product, Revolut Reader, lets merchants take contactless, chip-and-PIN, and Apple Pay or Google Pay transactions via a Bluetooth card reader paired with the Revolut Business app. Transaction fees on paid plans start at 0.8% per in-person payment, which undercuts many flat-rate competitors at higher monthly volumes. A business processing £20,000 a month in card payments would pay £160 in transaction fees at 0.8%, compared to £350 at Square's 1.75% rate.

Revolut's real differentiator is that payments sit inside a broader business account with multi-currency wallets, interbank exchange rates, expense management, and team cards. That integration works well for businesses that want one app for banking and payments rather than separate accounts. The downside is that Revolut's POS tools are basic compared to Square's. Stock management, table management for restaurants, and advanced reporting are all absent or limited. For a detailed breakdown of fees and features, read the full Revolut Business review on Compare Card Fees.

What is Square?

Square launched in the US in 2009 and entered the UK market in 2017. It is now one of the most widely used card payment systems for small UK businesses, particularly in retail, food service, and market trading. The core appeal is simplicity: sign up online, receive a free contactless card reader, and start taking payments at a flat 1.75% per transaction with no monthly fee. Square's free POS software covers sales tracking, inventory, staff permissions, and digital receipts out of the box. Businesses processing under £10,000 a month typically find the free plan sufficient.

Square has invested heavily in sector-specific software. Square for Restaurants and Square for Retail are paid add-ons (from £49/month each) that add table management, floor plans, barcode scanning, and purchase order tools. The hardware range has expanded to include the Square Terminal (£149 + VAT), a standalone device that prints receipts without a phone, and the Square Register (£639 + VAT), a full countertop till. Online payments are handled through Square Online, which integrates with the same dashboard. For a complete look at how Square works in practice, see the Square UK review on Compare Card Fees.

Revolut vs Square: Features Compared

Payment Methods

Both providers accept Visa, Mastercard, American Express, Apple Pay, and Google Pay. Square also accepts Samsung Pay. Revolut supports payments in over 25 currencies at interbank rates, which is a meaningful advantage for businesses selling to international customers. Square processes payments in GBP only for UK merchants. If a customer pays in a foreign currency, Square converts at its own exchange rate, which is less favourable. For businesses with a significant share of overseas customers, Revolut's multi-currency capability reduces conversion costs materially.

Hardware and Terminals

Square's hardware range is broader and more mature. The free Square Reader handles contactless and chip-and-PIN payments via a phone or tablet. The Square Terminal is a self-contained device with a built-in receipt printer, ideal for a fixed counter. The Square Register adds a customer-facing display. Revolut's only hardware option is the Revolut Reader at £49 + VAT, which connects to a phone via Bluetooth. It handles contactless and chip-and-PIN but does not print receipts and has no standalone mode. For businesses that need a dedicated terminal without a phone nearby, Square has a clear advantage.

Integrations

Square connects natively with WooCommerce, Wix, BigCommerce, and Ecwid for e-commerce, and integrates with Xero, QuickBooks, and various hospitality booking tools. Its App Marketplace lists over 200 third-party integrations. Revolut integrates with Xero, Slack, and several HR platforms, and its open API allows custom integrations. However, its direct e-commerce integrations are fewer than Square's. Businesses running an online shop alongside a physical presence will likely find Square's ecosystem better connected out of the box.

International Support

Revolut is the stronger choice for international business. Its multi-currency accounts let you hold, send, and receive money in over 25 currencies. Transferring funds internationally through Revolut typically costs far less than a traditional bank wire. Square is designed for domestic UK trading. It does not offer multi-currency accounts or international payment links. If your business invoices clients in euros or dollars, Revolut saves money on every transaction.

Fraud Tools and Security

Both providers are FCA-registered and support 3D Secure for online payments. Square's fraud detection runs on its own machine-learning system and monitors every transaction automatically. Revolut offers similar automated fraud screening and adds the ability to freeze cards instantly from the app, set spending limits per team card, and receive real-time alerts. Revolut's team card controls are particularly useful for businesses managing staff expenses. Neither provider offers a fully dedicated fraud management dashboard comparable to those available from enterprise-focused processors like Adyen.

Customer Support

Neither Revolut nor Square provides dedicated phone support for standard plan customers. Both rely on in-app chat and email. Revolut's in-app chat response times have drawn criticism, with some users reporting waits of several hours during busy periods. Square's support is generally rated more highly by UK small business users, with a dedicated phone line available for Square hardware issues. Both providers have online help centres with detailed documentation. For high-volume businesses where downtime is costly, the absence of immediate phone support from either provider is a genuine weakness worth factoring in.

Pros and Cons

Revolut Pros and Cons

Pros

• Low transaction fees from 0.8% on paid plans, significantly cheaper than Square at higher volumes
• Multi-currency accounts in 25+ currencies at interbank exchange rates
• Business banking, expense management, and payments all in one app
• Team card controls with individual spending limits
• No fixed contract cancel a paid plan at any time

Cons

• The free plan charges 1% per transaction, and the low 0.8% rate requires a paid plan from £19/month
• Hardware is limited to a single Bluetooth reader at £49 + VAT no standalone terminal or receipt printer
• POS software is basic. There is no stock management, table management, or sector-specific till software
• Customer support is in-app chat only on standard plans, with reported response times of several hours
• Revolut holds an e-money licence, not a full UK banking licence (though a UK banking licence was granted in July 2024, full retail banking services are still rolling out)

Square Pros and Cons

Pros

• Free card reader for new merchants no upfront hardware cost to get started
• Flat 1.75% in-person rate on the free plan with no monthly fee
• Strong free POS software covering inventory, staff, and sales reporting
• Broad hardware range from a pocket reader to a full countertop register
• Over 200 third-party integrations including Xero, WooCommerce, and QuickBooks

Cons

• At 1.75% per in-person transaction, Square is significantly more expensive than Revolut at volumes above roughly £5,000 a month
• No multi-currency accounts UK merchants process in GBP only
• Sector-specific software (Square for Restaurants, Square for Retail) costs an additional £49/month on top of transaction fees
• Instant transfers cost an extra 1% per transfer (minimum £1), so next-day settlement is the default
• Account holds and sudden terminations are reported more frequently than with traditional merchant account providers

Which is Better For...?

Small Retail and Market Traders

Square is the better starting point for a market trader or small shop taking under £5,000 a month. The free reader, zero monthly fee, and simple flat-rate pricing mean you can be up and running on day one without any upfront costs. Revolut's lower per-transaction rate only becomes financially worthwhile once you are paying enough in monthly fees to offset the saving. At £5,000 monthly volume, Square's 1.75% costs £87.50. Revolut's 0.8% costs £40, but you would need the £19/month Growth plan or higher to access that rate, narrowing the net saving.

Hospitality Businesses

Square has a clear advantage for cafés, restaurants, and food trucks. Square for Restaurants adds table plans, course management, and kitchen display integration for £49/month. Revolut has no equivalent product. If your business runs a physical dining operation with split bills, table turns, and staff tip reporting, Square is the more practical choice. Revolut is not designed for that workflow.

Online-Only or Mixed Channel Businesses

For online-only e-commerce, neither provider is a first choice against Stripe or Shopify Payments. That said, Square's native integration with WooCommerce and its Square Online store builder give it an edge over Revolut for businesses wanting a simple online presence linked to their POS. Revolut's online payment link feature works well for invoicing and service businesses. For a mixed online and in-person operation, Square's unified dashboard makes reconciliation easier.

High Volume Merchants and International Traders

Once monthly card volume exceeds around £10,000, the fee gap between Revolut and Square becomes significant. At £20,000 a month, Revolut at 0.8% costs £160 in transaction fees versus Square's £350. Even accounting for Revolut's £79/month Scale plan, the annual saving is over £1,000. Add multi-currency capability and international transfer savings, and Revolut becomes the stronger option for businesses trading across borders or processing high volumes. For very high volumes, it is worth also comparing Stripe and Dojo, which offer custom interchange-plus pricing at scale.

Our Verdict

Square wins for simplicity, hardware, and hospitality-specific features. If you are starting out, take mostly in-person payments, and want a zero-commitment setup with no upfront costs, Square is the more approachable choice. Its free POS tools add genuine value that Revolut simply does not match. The 1.75% rate is high, but for low-volume businesses the lack of a monthly fee makes the total cost competitive.

Revolut wins on price at higher volumes and on anything involving international payments. A business processing £15,000 a month pays roughly £262 less per month in transaction fees with Revolut at 0.8% compared to Square at 1.75%, even after paying for a Revolut Business plan. The banking integration, multi-currency wallets, and expense management tools make Revolut particularly strong for service businesses, freelancers, and any merchant with overseas clients. The POS limitations and in-app-only support are real drawbacks, but they may be acceptable trade-offs for the right business.

Neither provider is the right answer for every business. Compare Card Fees is a free, independent advisory service that has helped UK businesses find better card payment deals since 2012. Use the Compare Card Fees comparison tool to get personalised quotes based on your actual monthly volume and business type, including options from providers that may undercut both Revolut and Square.