UK In-Person Payments: Square vs. SumUp vs. iZettle (Which Is Actually Cheapest?)
UK in-person payment processors all claim "1.69%" as their headline rate. But: SumUp charges £20/month subscription (hidden). Square charges for invoicing (£1 per invoice). iZettle has no add-ons. True cost: SumUp 1.87% (if 1,000 transactions/month), Square 1.78%, iZettle 1.69%. iZettle wins, but most retailers don't know.
The UK Payment Processor Confusion#
Three main in-person processors: (1) Square: 1.69%, no monthly fee, charges for invoices. (2) SumUp: 1.69%, £20/month subscription. (3) iZettle: 1.69%, no fees. All advertise "1.69%" as if equal. But: Square charges £1 per invoice (small merchants send 50/month = £50 extra). SumUp charges £20/month (£240/year). iZettle charges nothing. On £100K annual sales: (1) Square: £1,690 + £600 invoicing = £2,290 (2.29%). (2) SumUp: £1,690 + £240 = £1,930 (1.93%). (3) iZettle: £1,690 (1.69%). iZettle is 36% cheaper than Square, but most don't know.
Why UK Processors All Charge Same Headline Rate#
Interchange rates (Visa/Amex charges) are fixed by card networks. So all processors have the same baseline cost. They compete on add-ons and hidden fees, not headline rate. Consumers focus on headline rate, so processors make it identical and hide the real costs in subscriptions/add-ons.
AskBiz inputs: (1) Your monthly transaction count.
AskBiz True Cost Comparison#
AskBiz inputs: (1) Your monthly transaction count. (2) Use of invoicing, reporting, etc. (3) Payment mix (card-present vs. online, if applicable). Output: True cost on Square, SumUp, iZettle with all fees included. Example: "You do 2,000 card-present transactions + 100 invoices/month. Square cost: 2.29%. SumUp: 1.93%. iZettle: 1.69%. Recommend: iZettle (save £1,200/year)."
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Real Example: UK Pop-Up Retail#
A pop-up retail store did 5,000 card-present transactions per month (customers only pay by card). Used Square because "well-known." Paid: 1.69% + invoicing fees (for back-office work). True cost: 2.1%. Switched to iZettle (same reader compatibility). True cost: 1.69%. Savings: 0.41% on £300K annual sales = £1,230/year.
- UK in-person payment processors all claim "1.69%" as their headline rate.
- But: SumUp charges £20/month subscription (hidden).
- Square charges for invoicing (£1 per invoice).
People also ask
Do I need a monthly subscription for in-person payments?
Not necessarily. iZettle and Square don't require it. SumUp does (£20/month). Choose based on your volume.
Can I use multiple processors?
Yes. Use iZettle for card-present, Stripe for online. But complicates reconciliation. Pick one if possible.
Are there cheaper processors than 1.69%?
PayPal Here: 1.5%, but limited features. Most mainstream processors: 1.69-2%. Small difference for small merchants.
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