Which Is Better for Mobile and Outdoor Trading?
The question isn’t which card reader has the lower headline rate. It’s which one still makes sense once you factor in what happens to your money after the sale, whether your average transaction clears a specific cost threshold, and whether you need hardware that works without a phone.
Your average in-person transaction is below roughly £11. Square’s 1.75% beats myPOS on small-ticket sales because myPOS charges a fixed 7p per transaction. By £10.77, the myPOS percentage advantage exactly cancels out the fixed fee. Below that, Square wins.
You need a POS app. Square’s free software covers item catalogues, modifiers, open tabs, split bills, and basic table management.
Amex volume tips the balance to Square. Square charges 1.75% on American Express, the same flat rate as every other card. myPOS charges 2.45% plus 7p. For restaurants where Amex covers 15–20% of transactions, this closes most of the headline gap.
You want takings in your bank account the next working day with no extra step. Square settles directly to your linked UK business bank account. myPOS settles instantly, but into a myPOS e-money wallet, a £1.50 transfer is needed to reach a high-street bank.
Visit SquareYou need a reader that works without a phone. The myPOS Go 2 has a built-in 4G SIM with lifetime data, no Wi-Fi, no paired handset required. When signal drops, the device queues transactions and syncs on reconnection.
The myPOS rate advantage kicks in above £11 average ticket and compounds with volume. At £5,000 a month with a £50 average ticket, you pay £87.50 to Square and roughly £62 to myPOS in transaction fees, a saving of £25.50 before transfer costs.
You take a significant number of cards issued outside the UK and EEA. myPOS charges approximately 2.85 to 2.90 per cent plus 7p on non-EEA cards. Square charges 3.25 per cent on any card issued outside the UK.
Visit myPOSSquare vs myPOS Fees and Charges
Card Transaction Fees
Square charges 1.75% on every in-person transaction regardless of card type. myPOS charges 1.10% plus 7p on domestic and EEA consumer cards, up to £10,000 per month. We put the cross-over at £10.77 per transaction: below that threshold, Square costs less.
Monthly, Setup and Contract Costs
Neither provider charges a monthly fee or requires a contract. Square has no setup fees, no minimum monthly turnover, and no exit fees. myPOS has no monthly or contract fee but charges £1.50 per bank transfer to an external account.
Other Fees to Watch
myPOS charges an inactivity fee of up to £45/month after ten months without valid transactions, a real risk for seasonal businesses. On Amex, Square is cheaper at 1.75% versus myPOS’s 2.45% + 7p.
Fee Verdict: Who Costs Less
| Monthly volume | Avg ticket | Transactions | Square cost | myPOS cost | myPOS saving |
|---|---|---|---|---|---|
| £3,000 | £30 | 100 | £52.50 | £40.00 | £12.50/month |
| £5,000 | £50 | 100 | £87.50 | £62.00 | £25.50/month |
Excludes bank transfer cost (£1.50/transfer for myPOS). Assumes UK/EEA consumer Visa/Mastercard. myPOS rate applies up to £10,000/month.
Square vs myPOS Payment Methods and Checkout Options
Cards, Wallets and Alternative Payment Methods
Both providers accept Visa, Mastercard, and American Express in-person via contactless, chip and PIN, and magnetic stripe. On Amex, Square is the cheaper option: 1.75% versus myPOS’s 2.45% plus 7p.
On non-UK issued cards the position reverses: myPOS charges approximately 2.85–2.90% + 7p versus Square’s 3.25%.
Checkout Experience
Square provides a virtual terminal (2.5%), a full invoicing product, an online store builder, and payment links at 1.4% + 25p. myPOS supports payment links and QR codes for remote transactions. We rate Square the stronger option for businesses needing both in-person and online payment acceptance.
Methods Verdict
Square wins on Amex and online payment flexibility. myPOS wins on non-EEA card rates. For a business with a mixed domestic and international card mix, model your Amex volume carefully before choosing.
Square vs myPOS Hardware, POS and In-Person Payments
Card Readers and Terminals
The Square Reader is £19 plus VAT. It pairs to your phone via Bluetooth. If the phone battery dies mid-service, so does the checkout.
The Square Terminal at £149 plus VAT removes that dependency: Wi-Fi or Ethernet, built-in printer, own battery. We rate it the sensible upgrade for any fixed-counter business. Square’s free POS app covers item catalogues, open tabs, split bills, and basic table layouts.
POS Software and Hardware Add-ons
The myPOS Go 2 is £29 plus VAT, with a built-in 4G SIM and no phone required. Receipts are digital by default. Printed receipts need the Go Combo dock at £169. Both devices are owned outright with no rental or contract.
myPOS gives you transaction reporting, tipping controls, and team access. That covers checkout basics but not order management or inventory. If your business needs tabs or a product catalogue, you need a separate EPOS alongside myPOS.
In-Person Verdict
We rate myPOS Go 2 the better hardware choice for outdoor and mobile traders who need standalone 4G operation. Square wins for any business needing a POS app alongside card acceptance.
Square vs myPOS Online Payments and Integrations
Hosted Checkout, Payment Links and APIs
Square Online gives you a free e-commerce store connected to the same inventory as your reader. myPOS does not have a native e-commerce product. Square’s virtual terminal (2.5%) and full invoicing product support remote payment collection.
Platform Integrations
We confirmed both providers connect to Xero. myPOS also integrates with Shopify, WooCommerce, and at the enterprise level, SAP and Microsoft Dynamics. Square integrates with Xero, QuickBooks, FreeAgent, WooCommerce, and Wix.
Online Verdict
Square is the stronger all-round option for businesses needing online payments. myPOS suits businesses that accept in-person payments only and already have a separate e-commerce platform.
Square vs myPOS Payouts, Contract Terms and Account Risk
Settlement Speed and Payout Schedule
Square settles to your linked UK business bank account the next working day. Transactions processed before midnight settle the following morning, including weekends and bank holidays.
myPOS settles in under three seconds, but into a myPOS e-money account, not a bank. Moving money to your bank costs £1.50 per GBP Faster Payments transfer.
Contract Length and Exit Terms
Neither provider requires a contract. Both can be walked away from at any time with no exit fee.
Reserves, Holds and Account Stability
Square’s instant transfer option costs 1.5% per transfer. We flag the myPOS inactivity fee as the sharpest risk for seasonal businesses: after ten months without valid transactions, myPOS charges up to £45/month combined fees. myPOS provides two months’ notice before these fees begin.
Square vs myPOS Customer Reviews and Reputation
Trustpilot and Independent Review Themes
myPOS has been operating in the UK since 2014. Trustpilot UK reviews are generally positive for myPOS, with praise for hardware reliability and standalone connectivity. We see recurring themes in negative reviews: the transfer fee surprise and the inactivity charge on dormant accounts.
Support Channels and Response Times
Square has a larger UK user base and longer track record since launching in the UK in 2017. Trustpilot UK scores reflect a familiar pattern: consistent praise for the POS app, with complaints centred on account risk holds and customer service response times.
Reputation Verdict
myPOS has been operating in the UK since 2014 and is established in the European small business market. Trustpilot UK reviews are generally positive for myPOS, with praise for hardware reliability and standalone connectivity.
We see recurring themes in negative reviews: the transfer fee surprise and the inactivity charge on dormant accounts.
Square has a larger UK user base and longer track record since launching in the UK in 2017. Trustpilot UK scores reflect a familiar pattern for large processors: consistent praise for the POS app, with complaints centred on account risk holds and customer service response times.
Square vs myPOS for Average Transaction Size
We rate average transaction size as the single most important variable in this comparison. Above £10.77 per transaction, myPOS’s 1.10% + 7p beats Square’s 1.75% flat. Below £10.77, Square wins because myPOS’s fixed 7p adds proportionally more to small transactions.
Market traders selling craft items at £20–£50 per transaction: myPOS saves money at any volume. Coffee shops and food stalls selling at £4–£8 per transaction: Square is cheaper per transaction.
At £3,000/month with a £30 average ticket (100 transactions), myPOS saves £12.50/month in transaction fees before bank transfer costs. At one £1.50 bank transfer per week, that’s £6/month, leaving a net saving of around £6.50. Spend from the free myPOS Mastercard and the transfer cost drops to zero.
Downsides of Square and myPOS
Downsides of Square
Square’s 1.75% flat rate is expensive for businesses with higher average transaction sizes. The reader depends on a paired phone: a dead battery ends the checkout. Square’s 3.25% non-UK card rate is buried in help documentation and expensive for tourist-facing businesses.
Downsides of myPOS
The e-money account is the biggest practical limitation. Funds don’t reach your bank without a £1.50 transfer. The inactivity fee can reach £45/month, which matters if your business is seasonal.
The POS app is transaction-reporting only; it is not a till replacement for hospitality or retail. Amex is 2.45% + 7p, significantly more than Square’s flat 1.75%.
Alternatives to Square and myPOS
If neither Square nor myPOS fits your requirements:
- Lopay, 0.99% next-day, £24 reader. Cheaper rate than myPOS on Visa/MC with UK bank settlement.
- SumUp, 1.69% flat, £15 reader. Simpler and cheaper hardware than both.
- Dojo Go, Standalone 4G terminal with custom rates for businesses above £5,000/month. Competes with myPOS Go 2 on hardware capability but with UK bank settlement.
- Tide Card Reader, 0.79% + 3p in-person on the Sell plan. UK bank settlement if you already use Tide for business banking.
Final Verdict: Square or myPOS?
We rate Square the stronger choice for businesses below £11 average ticket, Amex-heavy operations, or anyone needing a free POS app and direct bank settlement. The £19 reader, 1.75% flat rate, and free POS app work together as a complete checkout with no hidden costs after the transaction.
myPOS for mobile and outdoor traders who need a standalone 4G terminal without a phone, or for businesses with higher average tickets on Visa/Mastercard. Above £10.77 per transaction on UK/EEA consumer cards, myPOS saves money.
The e-money account and inactivity fee are real considerations to model before committing.
If your average transaction is above £11, your business is rarely idle, and you’re comfortable spending from the myPOS Mastercard, myPOS offers a genuine saving. For everyone else, Square is simpler and you will find the costs more predictable.
Frequently Asked Questions
Is Square or myPOS cheaper?
It depends on your average transaction size. On in-person Visa and Mastercard payments, myPOS is cheaper on any transaction above £10.77. Below that threshold, Square’s 1.75% flat rate wins. If you take significant Amex, Square is cheaper on those transactions: 1.75% versus myPOS’s 2.45% plus 7p.
Does myPOS work without a phone?
Yes. The Go 2 has a built-in 4G SIM with lifetime data and functions as a standalone device. No paired handset is required for your payments. If your signal drops, the device queues transactions and syncs when connectivity is restored.
Where does myPOS settle money?
Into a myPOS e-money account, not your business bank account. The account holds a UK IBAN and is FCA-regulated, but it is not FSCS protected. Transferring to your external UK bank costs £1.50 per transfer via GBP Faster Payments.
Does myPOS charge more for Amex?
Yes. myPOS charges 2.45% plus 7p on American Express in-person transactions. Square charges 1.75%, the same rate it applies to every other card. If your business takes regular Amex payments, that difference compounds fast.
Can I use Square and myPOS at the same time?
Yes, they are separate acquiring relationships and you can run both. In practice, the additional account management overhead and the myPOS inactivity fee risk make dual operation complicated unless your volumes clearly justify it.
How we reviewed Square vs Mypos
Ranking criteria. We compared Square and Mypos on pricing, fees, feature set, eligibility, and contract terms. We also verified regulatory status and deposit protection where applicable.
Data sources. Every provider’s pricing page, terms, and product docs were checked directly in May 2026. No comparison sites, no press releases, no affiliate material. FCA register cross-checked for regulatory status.
Update cadence. We re-verify every provider on this page at least monthly, and whenever a provider changes pricing, eligibility, or terms. The verification date on the page reflects the most recent full review. Some links on this page are affiliate links, see our editorial policy.