Pay-as-you-go billing with no long-term contracts or early termination fees No monthly fees (in most cases) Predictable flat-rate pricing An extensive line-up of products and features for eCommerce businesses Inconsistent telephone support Flat-rate pricing not suitable for medium-sized or larger businesses
There’s a lot to like about Vancouver-based Clearly Payments. The company claims its mission is to drive down the cost of credit card processing. While we don’t know how successful they’ll be, they are making some good choices with regard to how they’ve set up their plans.
Clearly Payments offers both interchange-plus (cost-plus) pricing and membership pricing, which we here at Merchant Maverick consider the two best options for businesses with medium-to-high processing volume. These prices are clearly disclosed on the company’s website.
The cost-plus plan costs $20/month with transaction fees starting at cost + 0.28% + $0.08 for in-person payments, cost + 0.28% + $0.22 for online or keyed transactions. Transaction rates decrease with volume. Membership pricing begins at $99/month for businesses processing up to $50,000/mo, with transaction rates of cost + $0.08. Higher volume plans cost more per month but have lower transaction fees. In both cases, contracts are month-to-month with no early termination fees.
Pay-as-you-go billing with no long-term contracts or early termination fees Interchange-plus and membership-pricing offered exclusively Good terminal selection Good customer service Monthly fees Plans may not be suitable for low-volume businesses
There are a lot of other available merchant services in Canada that are high-quality but missed being in our top contenders either because they’re better suited to large companies that can negotiate their rates more easily, or they have some limitations/specializations that make them more niche.
Vancouver-based Payfirma online payday loans Oliver Springs no credit check offers a robust payment processing platform that includes the ability to take Visa, Mastercard, Discover, Interac, and Apple Pay transactions. While the system seems comprehensive, Payfirma does not disclose much information about its fee structure up close. The company’s language of “qualified” and “non-qualified” rates tends to imply a tiered pricing system, however, which we’re generally not a fan of. There’s also an early termination fee if you lease your equipment.
Canadian businesses need most of the same things out of their payment processors as businesses everywhere else. When choosing a payment processor, you’ll want to consider the following:
There aren’t nearly as many merchant account providers in Canada for merchants to choose from as there are in the United States. Nonetheless, there are still a few excellent providers available as well as a lot of merely average ones and even some genuinely terrible providers that you should avoid.
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