A Complete Guide to Squarespace Payments in 2024/25
If you’re running an online business with Squarespace, understanding how payments work is essential. Squarespace Payments provides an integrated, simple way to manage transactions, allowing businesses to focus on growth rather than worrying about technical payment setups. As part of our Squarespace Refresh 2024 Spotlight series, we’re diving deep into Squarespace Payments and its powerful new features, designed to give your ecommerce business more flexibility and control over transactions.
Expanded Global Availability
One of the standout updates in 2024 is the broader global reach of Squarespace Payments. Now available in the US, UK, and Canada, with France and Germany launching soon, this expansion allows businesses to effortlessly serve international markets without third-party payment plugins. For companies looking to scale globally, this removes a significant barrier, streamlining your ability to accept payments across key regions.
Diverse Payment Methods
The 2024 update introduces a variety of new payment options designed to meet your customers’ needs and boost your business. These include:
ACH Direct Debit (US-only): Enables customers to pay directly from their bank accounts, which can reduce processing costs.
Klarna: Offering “Buy Now, Pay Later” options gives your customers more flexibility at checkout and helps boost conversion rates.
Mobile Wallets: With the rise of mobile shopping, accepting Apple Pay and Google Pay speeds up the checkout process and reduces cart abandonment.
These options ensure your customers enjoy a seamless shopping experience, no matter how they prefer to pay.
Instant Payouts for Faster Cash Flow
For businesses that need quick access to funds, Instant Payouts is a game-changing feature introduced this year. Available via the Squarespace mobile app, this feature allows you to transfer earnings almost immediately after a transaction, cutting down the typical waiting time associated with other payment processors. This means better cash flow for businesses managing high volumes of sales, ensuring you always have funds available when you need them.
Simplified Payment Management
Managing payments can feel overwhelming, especially as your business grows. But Squarespace makes it easy with its enhanced reporting and management tools. Track your transactions, process refunds, and monitor payouts—all from one central dashboard. This level of transparency gives you complete control over your business finances, allowing you to focus on what matters most: growth.
How Squarespace Payments Compare
Here’s how Squarespace Payments stack up against other common services:
Processing Fees: 2.9% + 30¢ per transaction (via Stripe), which is competitive with Stripe and other providers. By comparison, PayPal charges 3.49% + 49¢ per transaction, making Squarespace Payments a more cost-effective option for many businesses.
Business Plan Fees: If you’re on the Business plan, Squarespace adds a 3% platform transaction fee. For businesses with larger sales volumes, upgrading to a Commerce plan removes this fee, allowing you to only pay the standard payment processing fee.
Why Squarespace Payments Matter for Your Business
The 2024 update to Squarespace Payments isn’t just about simplifying transactions—it’s about empowering businesses to operate more efficiently and scale effortlessly. Whether you’re a small business expanding globally or a high-volume ecommerce store, these new features offer practical benefits:
Global reach with expanded availability.
Increased sales through flexible payment options like Klarna and mobile wallets.
Better cash flow with Instant Payouts.
With its integrated system, Squarespace eliminates the need for third-party payment processors, making it an all-in-one solution that allows you to focus on growing your business without the complexity of managing external tools.
Stay tuned for the next episode of the “Squarespace Refresh 2024 Spotlight” series, where we’ll explore more updates designed to elevate your business to the next level!
