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Join For FreeBest Credit Card Processors For Canadian Small Businesses
Canadian business owners should check out these great merchant account options for every type of business.
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Last updated onUpdated
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REVIEWED BY
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Finding the best credit card processors in Canada is complicated because there aren’t nearly as many processors operating in the country as there are in the United States. Canadian businesses will need one of the best credit card processors for small businesses that can handle both the big international credit card networks and local payment methods, such as Interac.
Whether you select a homegrown Canadian payment processor or an international company that operates in Canada, you’ll want to choose a service that provides the most overall value for the lowest total cost.
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Table of Contents [hide][show]
- The Best Merchant Services & Payment Processors In Canada
- Helcim: Best Free Canadian Merchant Account
- Square: Best For Startups
- Clearly Payments: Best For High-Volume Businesses
- Host Merchant Services: Best For Restaurants
- Chase Payment Solutions Canada: Best Direct Payment Processor
- Durango Merchant Services: Best For High-Risk Merchants
- The Basics Of Payment Processing For Canadian Small Businesses
- How To Find A Good Merchant Services Provider In Canada
- Which Canadian Credit Card Processing Company Is Right For Your Small Business?
- FAQs: Best Credit Card Processors For Canadian Small Businesses
Table of Contents
- The Best Merchant Services & Payment Processors In Canada
- How The Best Canadian Payment Processors Compare
- Helcim: Best Free Canadian Merchant Account
- Helcim
- Helcim Features
- Helcim Pricing
- What To Watch Out For
- Square: Best For Startups
- Square
- Square Features
- Square Pricing
- What To Watch Out For
- Clearly Payments: Best For High-Volume Businesses
- Clearly Payments
- Clearly Payments Features
- Clearly Payments Pricing
- What To Watch Out For
- Host Merchant Services: Best For Restaurants
- Host Merchant Services
- Host Merchant Services Features
- Host Merchant Services Pricing
- What To Watch Out For
- Chase Payment Solutions Canada: Best Direct Payment Processor
- Chase Payment Solutions Features
- Chase Payment Solutions Pricing
- What To Watch Out For
- Durango Merchant Services: Best For High-Risk Merchants
- Durango Merchant Services
- Durango Merchant Services Features
- Durango Merchant Services Pricing
- What To Watch Out For
- Payment Processing Rating Methodology
- The Basics Of Payment Processing For Canadian Small Businesses
- How To Find A Good Merchant Services Provider In Canada
- Which Canadian Credit Card Processing Company Is Right For Your Small Business?
- FAQs: Best Credit Card Processors For Canadian Small Businesses
The Best Merchant Services & Payment Processors In Canada
The best Canadian merchant services providers accept both Canadian and international payment methods and have month-to-month plans with no early termination fees, comprehensive feature sets, and either flat-rate or interchange-plus pricing. Some of the best payment processing companies in Canada we’ve found include the following:
- Helcim: Best Free Canadian Merchant Account
- Square: Best For Startups
- Clearly Payments: Best For High-Volume Businesses
- Host Merchant Services: Best For Restaurants
- Chase Payment Solutions Canada: Best Direct Payment Processor
- Durango Merchant Services: Best For High-Risk Merchants
How The Best Canadian Payment Processors Compare
| Application/Setup Fees | Monthly Fee | Processing Rate Plan(s) | Contract Requirements | |
|---|---|---|---|---|
| Helcim | $0.00 | Interchange-plus | Month-to-month billing | |
| Square | $0.00-$35.00+ CAD | Flat-rate | Month-to-month billing | |
| Clearly Payments | $21 CAD (INT+) or $99 - $189 CAD (membership) | Interchange-plus or membership | Month-to-month billing | |
| Host Merchant Services | $14.99 CAD | Interchange-plus | Month-to-month billing | |
| Chase Payment Solutions Canada | Not disclosed | $9.95+ CAD | Flat-rate or interchange-plus | Month-to-month billing |
| Durango Merchant Services | Variable | Variable | Variable |
Helcim: Best Free Canadian Merchant Account
Pros
- Full merchant account with no monthly fee
- Exclusive interchange-plus pricing for all merchants
- Month-to-month billing & no early termination fees
- All-in-one payments platform for eComm & in-person sales
Cons
- Doesn’t accept high-risk businesses
- Can be expensive for low-volume sellers
- Basic POS features
Why Helcim Is The Best Free Canadian Merchant Account
With no monthly account fee and no long-term contracts, Canadian merchant services provider Helcim offers one of the lowest points of entry to a full-service merchant account.
Helcim provides detailed pricing disclosures, so you won't need to negotiate to secure the best possible deal for your business. The company's website also includes in-depth articles explaining how credit card processing works and exposing other providers' deceptive advertising tricks. Everything is completely laid out on the table with crystal-clear fee disclosures, and you'll get transparent cost-plus (interchange-plus) pricing right out of the box with no additional hassle, and no monthly fee.
Helcim offers a proprietary payment gateway and POS software, making it suitable for both eCommerce and in-person sales. Processing hardware options include the versatile Helcim Card Reader and the Helcim Smart Terminal, both of which are available for direct purchase.
Choose Helcim If...
- You want a full-service merchant account for your business that includes interchange-plus pricing and month-to-month billing, but you don’t want to have to pay a monthly fee.
Square: Best For Startups
Get a free card swiper from Square at no cost when you create a free account. Claim your card reader.
Pros
- Predictable flat-rate pricing
- Ideal for low-volume merchants
- No monthly fees for basic account
- Massive feature set
Cons
- Not a dedicated merchant account
- Not available to high-risk merchants (except CBD)
- Not suitable for high-volume businesses
Why We Chose Square As Best For Startups
Square has made waves in the US market as a convenient payment solution for small businesses and serves small Canadian merchants similarly well. How does Square work? Well, it's a third-party payment processor that offers simple pricing schemes and a wealth of business management, POS, and eCommerce features, all for a very low cost of entry.
Square provides enormous value for no monthly fee, and it's also very easy to sign up for and get started with. These factors make Square a great first payment processor for new small businesses that may have infrequent transactions and want access to top-rated business tools as part of the package.
PayPal, Stripe, and Shopify also provide free third-party processing services in Canada, though these providers are geared more toward eCommerce. Of all these processors, Square provides the most free POS features, which is why it's the best choice for brick-and-mortar startups---in fact, we also consider Square one of the best POS systems for Canadian restaurants!
Choose Square If...
- You’re a first-time business owner looking for the easiest and most affordable way to accept credit and debit cards.
- You need free POS features for your brick-and-mortar business and/or a simple, free online store.
Clearly Payments: Best For High-Volume Businesses
Pros
- Pay-as-you-go billing
- Interchange-plus & membership pricing
- Good terminal selection
- Good customer service
Cons
- Monthly fee
- Plans may not be suitable for low-volume businesses
Why Clearly Payments Is The Best Choice For High-Volume Businesses
There's a lot to like about Clearly Payments. The company claims its mission is to drive down the cost of cheap credit card processing. The option to choose between membership or interchange-plus pricing makes Clearly Payments an excellent choice for high-volume businesses that want to minimize their processing costs.
Clearly Payments offers a wide variety of products and services for online and eCommerce businesses. Processing hardware options include Clover POS products or a variety of universal credit card terminals and mobile card readers. The company's contracts are month-to-month, with no long-term commitment or termination fees. The company's website included extensive disclosure of processing rates and account fees.
Choose Clearly Payments If...
- Your business has a high monthly processing volume and you’d like to save money on your credit card processing costs with a membership pricing plan.
Get Started With Clearly Payments
Host Merchant Services: Best For Restaurants
Pros
- Interchange-plus pricing on all accounts
- Industry-specific plans
- Free web hosting on all accounts
- Accepts high-risk businesses
Cons
- Not suitable for low-volume businesses
Why Host Is The Best Choice For Restaurants In Canada
Host Merchant Services offers excellent merchant account services to both US and Canadian merchants, including low- and high-risk businesses, as well as online and in-person businesses. Transparent pricing, responsive customer service, and free web hosting are all hallmarks of this processor. All accounts include a payment gateway and interchange-plus pricing.
Host truly offers something for everyone, whether you own a brick-and-mortar business or eCommerce store. Host even has industry-specific plans, including plans for retail, restaurants, and eCommerce businesses. Host's pricing for restaurants is especially competitive.
Choose Host Merchant Services If...
- You own a brick-and-mortar restaurant business with at least $15K/month in credit card sales.
- You run a high-risk business, retail store, or high-volume eCommerce business.
Get Started With Host Merchant Services
Chase Payment Solutions Canada: Best Direct Payment Processor
Chase Payment Solutions Canada |
|---|
Pros
- Usually offers month-to-month contracts with no early termination fees
- Credit card terminals available for sale or rent
- Next-business-day funding for business checking customers
Cons
- A long-term contract may be required for some merchants
- Reports of mediocre customer service
Why We Chose Chase Payment Solutions As The Best Large, Direct Payment Processor
For Canadian merchants running larger, more established businesses, Chase Payment Solutions is a surprisingly good choice for such a large company. You'll get a far more robust line of products and services than you will with a smaller provider, plus it's a direct processor.
Like most providers, Chase doesn't discuss contract terms in its advertising materials. However, the company doesn't appear to offer "free" terminals in exchange for a long-term contract to its Canadian customers. Be sure to discuss contract terms with your sales agent and read your contract documents thoroughly to confirm them before you sign up.
Chase offers competitive rates and low account fees -- something we don't often see in a large processor. If your scaling plans include the payment processing services of a large processor like Chase, Chase Payment Solutions provides a convenient on-ramp for small businesses.
Choose Chase Payment Solutions If...
- You have a business banking account with Chase and want to consolidate all of your business’s financial services under one roof.
Get Started With Chase Payment Solutions Canada
Durango Merchant Services: Best For High-Risk Merchants
Pros
- High-risk processing specialist
- No account application or setup fees
- No early termination fee in most cases
- Good customer service
Cons
- Very few public pricing disclosures
- $50,000 CAD/month minimum processing requirement for international accounts
Why Durango Merchant Services Is The Best Choice For High-Risk Merchants
High-risk merchants have fewer options for payment processing, but that doesn't mean they should settle for poor service. Durango Merchant Services is one of our favorite high-risk payment processors, offering reasonable rates and contract terms to industry segments that can easily be exploited.
Durango Merchant Services offers most clients a month-to-month contract, but some merchants in particularly high-risk industries may be stuck having to enter a contract. This contract will usually be for three years initially and one year after that. Your early termination fee will probably be somewhere around $500.
Durango also offers a broad selection of perks, including shopping cart integration, a proprietary Durango Pay gateway, and support for cryptocurrency payments. It's a particularly good choice for online-only businesses in Canada.
Choose Durango Merchant Services If...
- You need a high-risk merchant account for your business, and the majority of your sales are in either Canada or the United States.
- Your high-risk business processes at least $50K/month in credit card sales.
Get Started With Durango Merchant Services
Payment Processing Rating Methodology
Merchant Maverick has been researching the payment processing industry since 2009. Our writers have reviewed hundreds of credit card processors, merchant account services, and mobile payment apps, evaluating each provider carefully on several different metrics.
When comparing different payment processing companies and applications to one another, we consider numerous data points. Our experts start by comparing credit card processing rates, the presence of additional fees, contract length, sales practices, and the presence or absence of additional features and services, like point of sale software. Each provider is judged on its own merits and how well it stacks up to industry standards; then it is weighed against the other providers on the list.
We spend an average of 10-15 hours researching and updating each one of our lists, making sure every company or application included meets our internal standards for quality and reputation. Any list of recommended payment processors on our site might contain a mix of standard merchant accounts, third-party payment processors, mobile payment devices, and high-risk payment processors, depending on what our expert feels is the best fit for certain scenarios or business types.
For additional details about Merchant Maverick’s review and rating processes, please refer to any or all of the following methodology pages:
- Credit card processor rating criteria
- High-risk merchant account rating criteria
- Credit card reader & mobile payment device rating criteria
15
Years reviewing payment processors
100+
Providers evaluated
25
Attributes and features assessed per vendor
40+
Years combined experience
The Basics Of Payment Processing For Canadian Small Businesses
To process credit cards, you’ll need a merchant account or a third-party payment processor, which aggregates businesses into large merchant accounts. Your credit card processor will deduct various network, bank, and markup fees from each transaction before the remaining funds are deposited into your business bank account. Today, almost all merchant service providers also offer a host of additional features and services beyond basic credit/debit card processing.
How To Find A Good Merchant Services Provider In Canada
Canadian businesses need most of the same things from their payment processors as businesses everywhere else. When choosing a merchant services provider, you’ll want to consider the following:
Which Canadian Credit Card Processing Company Is Right For Your Small Business?
While there are fewer credit card processors in Canada than in the United States, there are still many excellent providers that will be a good fit for just about any type of business. As always, there is no best, one-size-fits-all solution. The best provider for your business is the one that best matches your needs and provides the most overall value for your money.
We strongly recommend that you shop around and come up with a reasonable estimate of your overall costs before deciding on a specific merchant services provider. Most of our top choices make this easy with transparent pricing disclosures. For providers with variable pricing, it’s always a good idea to obtain a customized quote and compare it to what your other candidates have to offer.
Need a POS system that integrates with your Canadian merchant account? Check out our list of the best POS systems for Canadian small businesses.
FAQs: Best Credit Card Processors For Canadian Small Businesses
Frank Kehl
Expert Contributor at Merchant Maverick
Frank has been writing about payment processing and business services since 2015. He is a retired Air Force officer and a former practicing attorney. He has a Bachelor of Science degree in Psychology from The Pennsylvania State University and a Juris Doctorate degree from the Ventura College of Law, and currently resides in Paso Robles, California.
View Frank Kehl's professional experience on LinkedIn.
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