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

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Verifone and Square represent two very different eras and models of card payment hardware. Verifone is a long-established global terminal manufacturer, founded in 1981, working through acquiring bank partners on longer rental contracts. Square is a newer, self-service company that sells its own hardware outright with no contract at all. This comparison covers fees, hardware and contract terms. Updated September 2026.

Who Is This Page For?

This comparison is for UK business owners deciding between a traditional, contract-based Verifone terminal setup and Square's no-contract, self-service alternative, particularly useful if you have received a Verifone quote via a reseller and want to compare it against a flat-rate option.

Verifone vs Square: Fee Comparison

What Is Verifone?

Verifone is a long-established global payment terminal manufacturer, founded in 1981 in San Jose, California, and taken private by Francisco Partners in 2018. Its UK operations run through Verifone Limited, registered in England and Wales. Verifone itself is not directly FCA-authorised as a payment institution; processing is handled through acquiring bank partners that hold their own FCA authorisation, so it is worth confirming exactly which entity is regulating your agreement. Typical rates run 0.75% to 1.5% per transaction, negotiated by volume, with terminal rental from £15 to £25 a month and contracts typically 36 to 60 months. Full detail is on the Verifone UK review page.

What Is Square?

Square is a payments and point-of-sale company founded in 2009 in San Francisco, part of Block, Inc. (NYSE: SQ), and launched in the UK in 2017. Squareup Europe Ltd is authorised by the FCA as an e-money institution under FRN 900846. Its standard in-person rate is a flat 1.75% for UK cards with no monthly fee and no contract, and its hardware is owned outright by the merchant from a free basic reader up to the £649 Square Register. Full detail is on the Square UK review page.

Verifone vs Square: Features Compared

Regulatory Structure

This is a meaningful difference. Square holds its own direct FCA authorisation as an e-money institution. Verifone does not hold an equivalent authorisation itself; its terminals are typically supplied and contracted through an acquiring bank or reseller that holds the actual regulatory responsibility. This is a common and legitimate structure in traditional terminal hardware, but it means the specific regulated entity behind your Verifone agreement depends on who you signed with.

Contract and Ownership

Verifone terminals are typically rented as part of a long-term contract (36-60 months), giving a lower per-transaction rate in exchange for that commitment. Square's hardware is bought outright with no contract at all, which suits a business that wants no long-term obligation, even if the flat rate is higher.

Pricing at Volume

Verifone's negotiated rate (0.75%-1.5%) can undercut Square's flat 1.75% meaningfully for a higher-volume business, but the monthly terminal rental and long contract need to be weighed against that saving. For a lower-volume business, Square's no-rental, no-contract model is often the cheaper and lower-risk overall choice.

Customer Feedback

Square has an established, consistent Trustpilot presence that's straightforward to review. Verifone does not maintain a single substantial UK Trustpilot profile, which makes independently verifying customer satisfaction with Verifone specifically more difficult than with Square.

Pros and Cons

Verifone Pros and Cons

Pros

• Negotiated rates can go as low as 0.75% at volume, well below Square's flat rate
• Long-established global terminal manufacturer with decades of hardware experience
• Wide reseller network across the UK

Cons

• Not itself directly FCA-authorised; regulation runs through separate acquiring partners
• Long typical contracts (36-60 months) with a monthly rental fee
• No single substantial UK Trustpilot profile to independently verify service quality

Square Pros and Cons

Pros

• No contract and no monthly rental fee
• Hardware owned outright, starting free for the basic reader
• Directly FCA-authorised e-money institution, FRN 900846
• Established, reviewable Trustpilot presence

Cons

• Flat 1.75% rate is higher than Verifone's negotiated range at volume
• Manually keyed transactions cost significantly more (2.5%)
• Hardware range less extensive than dedicated terminal specialists for complex EPOS setups

Which Is Better For...?

Higher-Volume Businesses Willing to Commit

Verifone's negotiated rate can deliver real savings for a business processing enough volume to justify a long-term rental contract.

Businesses Wanting No Contract

Square is the clear choice for a business that wants to own its hardware outright and avoid any fixed-term commitment, even at a higher flat rate.

Businesses Wanting Independently Verifiable Reviews

Square's consistent, reviewable Trustpilot presence makes it easier to independently judge service quality than Verifone, which lacks a single substantial UK review profile.

Our Verdict

Verifone can offer a genuinely lower transaction rate for an established, higher-volume business prepared to commit to a multi-year rental contract, but it requires more diligence to understand exactly which acquiring bank is regulating your specific agreement. Square is the simpler, lower-risk option for most smaller UK businesses: no contract, hardware you own outright, and a consistent, independently reviewable service record, even though its flat rate is higher than Verifone's best negotiated deals.