Rates and prices checked September 21, 2026 on each vendor's own site. US dollars, before tax. Processing rates especially can vary by business type, risk profile, volume and negotiated terms, and vendors change pricing often, so confirm your own rate on the vendor's site before switching.
Getting paid involves two separate costs: what you pay to process a card, and what (if anything) you pay for the software that sends the invoice. This guide covers three payment processors and two invoicing platforms, and flags where a listed rate is a starting point rather than a plain number.
How this guide was built: it draws on each vendor's own pricing and fee pages. We have not hands-on tested every product, so we give no ratings or scores. Where a page doesn't state something, we say so instead of guessing. This is not financial advice; it's a starting point for your own comparison.
1. Payment processors
Stripe. Standard pricing is 2.9% + 30 cents per successful transaction for domestic cards, with no setup, monthly or hidden fees. International cards add 1%, plus another 1% if currency conversion is required. Bank debits (ACH) are 0.8%, capped at $5. A received dispute (chargeback) costs $15, and disputing it yourself costs another $15, refunded only if you win. Stripe accepts 100+ payment methods and 135+ currencies across 195+ countries.
Square. Square Free costs nothing per month, with in-person rates of 2.6% + 15 cents and online rates of 3.3% + 30 cents. Square Plus is $49 a month per location and lowers those to 2.5% + 15 cents in person and 2.9% + 30 cents online, with a 30-day free trial. Premium is $149 a month per location, with the same 30-day trial, and drops in-person rates further to 2.4% + 15 cents while adding real-time shipping rates and 24/7 phone support. Manual card entry is 3.5% + 15 cents on every tier, and cash or check is always free.
PayPal. For US domestic transactions, PayPal's own fee page (last updated September 1, 2026) lists standard credit and debit card payments at 2.99% plus a fixed fee, PayPal Checkout and Guest Checkout at 3.49% plus a fixed fee, and Pay Later options at 4.99% plus a fixed fee. QR code transactions are lower, at 2.29% plus a fixed fee. PayPal's page didn't show the exact cents amount of that fixed fee, so check it directly before comparing to Stripe or Square's stated cents figures.
2. Invoicing platforms
Wave. The Starter plan is free and includes unlimited estimates, invoices, bills and bookkeeping records, with optional online payments at 2.9% + 60 cents per card transaction. Pro is $19 a month billed monthly or $190 a year billed annually (about $15.83 a month), and drops the online-payment fee to 2.9% with no flat fee, plus automatic bank-transaction import and categorization. Wave also sells human bookkeeping support, Wave Advisors, starting at $149 a month.
FreshBooks. List prices are Lite at $23 a month, Plus at $43 and Premium at $70, for 5, 50 and unlimited clients respectively, all accepting cards, ACH, Apple Pay, Google Pay and Buy Now Pay Later. FreshBooks' page showed active promotional pricing at the time we checked (as low as $1 a month for the first year on Lite for solopreneurs), so treat the promotional price as temporary and the numbers above as what you'd pay afterward. Add-ons apply to every tier: extra team members are $11 a month per user, Advanced Payments is $20 a month, and FreshBooks Payroll is $40 a month plus $6 a month per user.
What to watch
- Rates aren't fixed for everyone. Processors adjust pricing by industry, risk and volume; treat every number here as a starting point.
- Software fees are separate from processing fees. Wave and FreshBooks charge for the invoicing software; Stripe, Square and PayPal charge only when money moves (Square also has an optional paid software tier).
- Fine print costs add up. Disputes, international cards, currency conversion and instant payouts each carry their own fee on Stripe, and manual card entry costs more everywhere.
- A promotional price isn't the ongoing price. FreshBooks and Wave both showed limited-time discounts; the list price is what returns after the promotion ends.
How to choose
- Estimate your card-present vs. online mix. Square's in-person rates beat its own online rates; Stripe is built primarily for online and API-based selling.
- Add up software plus processing, not just one. A free invoicing tool with a higher payment fee can cost more overall than a paid tool with a lower one, depending on your volume.
- Check international and currency-conversion fees separately if you sell across borders, since Stripe, Square and PayPal each price them differently.
- Confirm the exact fixed fee on whichever processor you're considering; several vendor pages state the percentage clearly but not the flat cents amount for every payment type.
- Don't rely on the promotional price when budgeting a year out.
FAQ
Is there a free way to start? Yes. Square Free and Wave Starter both cost nothing monthly; you pay only when you process a card payment.
Which has the lowest card-processing rate? It depends on how the customer pays. For online transactions, Stripe and Square Plus/Premium are both around 2.9% + 30 cents; for in-person, Square's rates run lower, from 2.4% to 2.6% + 15 cents depending on plan.
This guide contains no affiliate links.