The Very Best (and Worst) Canadian Credit Card Merchant Account Providers

Canadian merchant services reviews

Canadians are some nice people. I ought to know, when i have Canadian relatives visiting every so often – and you’ll never hear them say a poor word about anything or anybody. However, I actually do possess a bad word to say of Canada – well, not Canadians by itself (and definitely not my Ontarian cousins!) but about Canadian charge card processors: Sorry, guys. You suck.

To become fair, it’s less that Canadian credit card merchant account providers are terrible obviously it’s just there are insufficient high quality ones. Whereas in america there exists a large amount of decent charge card processing options, there aren’t many trustworthy processors to select from in Canada. There are just a few that I would suggest, as well as from individuals, there’s just one will be able to with confidence say is a superb option (Helcim). The worst option, knowing by all of the negative reviews that people receive, is most likely Pivotal Payments.

This information will cover all of the Canadian charge card processors worth mentioning, giving a short rundown of every option. We’ll in addition have a section focused on “alternative” payment means of Canadian residents that process under $5k monthly.

Table of Contents

Best Canadian Processor: Helcim

If you’ve read we member Tom DeSimone’s glowing overview of Calgary-based Helcim (see our review), it shojuld not be a surprise that we’re singling out this processor as Canada’s best. There’s virtually no better processor for Canadian companies – plus they supply the same kick-butt degree of service in america too.

Here are a few of Helcim’s highlights:

  • All interchange-plus prices (also known as Cost+)
  • Excellent customer care
  • Extensive fee disclosures
  • Amazing educational sources, including charts demonstrating different interchange rate scenarios
  • No termination charges
  • No monthly minimum
  • No setup/application charges
  • No PCI compliance charges

Something I like about Helcim may be the truly helpful educational sources they offer, including articles on navigating the deceitful charge card processing industry generally, as well as an extensive knowledgebase detailing how Helcim works. Even though you don’t choose this processor, it’s not necessarily a bad idea to teach yourself by studying a few of their articles, including The Top Five Methods Utilized by Charge Card Processors and Look out for Hidden Charges Billed by Most Processors.

With Helcim, fairness is the specific game. Helcim charges reasonable prices and it has probably the most transparent sales policies associated with a processor available, Canadian or else. Things are completely organized up for grabs, with very-obvious fee disclosures so you’re no more hit having a bill just like a punch within the stomach. This kind of fairness and transparency is what’s missing in many processors, and hopefully the requires a cue from all of these guys. Try them out here.

Virtually, the only real good factor I must say about Pivotal Payments is they offer a merchant account in Canada. While they’re located in Melville, New You are able to, they likewise have a workplace in Quebec, which makes them among the couple of processors open to Canadian retailers. In situation you’re wondering if there’s a noticeable difference between the (bad) service they offer in america and also the (bad) service they offer in Canada, there’s not really. As Tom DeSimone place it in the review:

Canadian and US-based retailers obtain the same sub-componen service from Pivotal, no matter locale.

Oh, and that i guess yet another good factor about the subject is that they provide interchange-plus prices, should you request it. Otherwise, it’s mostly not so good news. Here are the lowlights of the processor.

Lowlights:

  • Deceitful credit card terminal leases
  • Failure to reveal all terms associated with their early termination fee (ETF)
  • Bad customer support
  • Sporadic sales experience

Hidden charges (including an earlier termination fee), deceitful terms (retailers complain of having stuck in extended terminal lease charges), and poor customer support are only a couple of explanations why this Canadian charge card processor receives terrible testimonials. For more information on why and the way much they suck, read our overview of Pivotal Payments, or simply skip lower towards the comments with that article to see about all of the completely uncomfortable encounters individuals have had with this particular company.

Average Canadian Processors: Chase Paymentech and Moneris Solutions

Chase Paymentech

If you are searching for any decent processor offering service in Canada, Chase Paymentech is a nice solid choice. They provide affordable rates and also have a good status in the market. However, having a big company like Chase, you aren’t likely to receive the amount of customer service you’ll having a smaller sized processor like Helcim. Some customers also complain of costly and unfair terminal (charge card machine) lease contracts with Chase Paymentech.

The great:

  • Month-to-month contracts with no cancellation charges (For your information: This can be a fairly recent offering)
  • No PCI compliance charges
  • Helpful educational sources
  • Interchange-plus plans and periodic downtime provided to most retailers

The not-so-great:

  • No rates or charges disclosed online
  • Deceptive terminal leases 
  • Some customers (greater volume retailers and resellers of Chase merchant services) might be susceptible to early cancellation charges
  • So-so customer support

Should you possess a Canadian business and like the thought of using a model of camera like Chase, go on and try them out.

Moneris Solutions

Toronto-based Moneris Solutions is definitely an amalgam from the charge card processing aspects of Royal Bank of Canada and also the Bank of Montreal. So, it’s some hefty industry experience behind it. Basically we like Moneris’s services a great deal, plus they disclose many of their terms online, customers who don’t read the small print prior to signing anything could get burned.

The great:

  • Thorough, informative website
  • Terrific variety of services and POS products
  • Reliable merchant support
  • Periodic downtime

The type of terrible:

  • Early termination fee, sometimes including liquidated damages
  • Utilization of misleading sales ploys (e.g., offering $300 gift certificate for registering – with a lot of strings attached)

Again, while Moneris provides a wide selection of solid services and merchandise, they’ve been recognized to charge early termination charges that may total 1000s of dollars when they choose to hit you with liquidated damages. Safeguard yourself from by having to pay close focus on the termination portion of your contract (usually toward the finish of the document). Customers have told us that Moneris’s sales people aren’t always upfront so not have confidence in them to describe all of the specifics from the contract, particularly the ETF.

On Moneris’s services and the way to avoid their sneaky charges within our review.

Alternative Payments

Should you process under about $5K/month, in Canada or elsewhere, it will work better to choose what we should call a “third-party payment processor.” Third-party processors like PayPal permit you to accept charge cards without getting to obtain a credit card merchant account yourself. The only real disadvantage to the likes of PayPal is the fact that their transaction charges are greater than individuals of traditional merchant services. Around the vibrant side, third-party processors are usually contract-fee don’t have any fee every month (except for PayPal, that charges an acceptable fee every month for additional services). Make reference to this short article for more information.

Listed here are a couple of third-party payment processors that people like:

  • Square – Solely for retail brick-and-mortar companies
  • PayPal – Offers brick-and-mortar, mobile, an internet-based payments
  • Stripe – Solely for on the internet and mobile payments
  • 2Checkout – Solely for on the internet and mobile payments

Conclusion

I really hope I could provide advisable of the greatest Canadian credit card merchant account providers and those you need to avoid. To reiterate, Helcim is the greatest and Pivotal Payments may be the worst Chase Paymentech and Moneris Solutions are somewhere in the centre. And when you process merely a couple of 1000 dollars monthly, you’re best processing charge card payments utilizing a third-party payment processor like Square or Stripe rather of the traditional credit card merchant account.

Got something to include about Canadian payment processors? Seem your voice within the comments!

Shannon Vissers

Shannon is really a freelance author and editor located in North Park, CA. Shannon type of wants an apple iphone 7, but she’s not necessarily prepared to lose the headphone jack.

Shannon Vissers

Shannon Vissers

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