The short answer
- Selling in person, under about $5,000 a month? Square charges a flat 2.5% with no monthly fee, so a slow month costs nothing extra. Watch its debit price (below).
- Bigger and steady? Look at interchange-plus: the card networks’ actual fee plus a small published markup, instead of a flat rate set high enough to cover the most expensive cards. Helcim’s markup is 0.40% + 8¢ in person, with no monthly fee.
- Selling mostly online? Stripe charges 2.9% + 30¢ with no monthly fee and works with most online checkouts.
Get told when these prices change
Providers change fees with little notice. We email you what changed when a price here does, and nothing else.
Our pick, by business type
-
For a retail shop at $5,000 to $25,000 a month · must have Inventory tracking
Our pick
Square $250 a month
Lowest cost, and it has inventory tracking.
Why not the others?
Left out: Stripe, Clearly Payments, Merchant-Accounts.ca (card processing only, no POS software of its own); TouchBistro (a restaurant-only POS).
Can't confirm here (a must-have or the full price isn't published): Moneris, Helcim, Clover, Global Payments, Chase.
-
For a restaurant at $5,000 to $25,000 a month · must have Restaurant features (menus, tables or kitchen tickets)
Our pick
Square $250 a month
Lowest cost, and it has restaurant features.
Why not the others?
Left out: Stripe, Clearly Payments, Merchant-Accounts.ca (card processing only, no POS software of its own).
Can't confirm here (a must-have or the full price isn't published): Moneris, Helcim, Clover, Lightspeed, Shopify POS, TouchBistro, Global Payments, Chase.
-
For a mobile business at $5,000 to $25,000 a month · must have Portable reader or Tap to Pay on a phone
Our pick
Square $250 a month
Lowest cost, and it has a portable reader.
Why not the others?
Left out: TouchBistro (a restaurant-only POS).
Can't confirm here (a must-have or the full price isn't published): Helcim, Clover, Lightspeed, Clearly Payments, Global Payments, Chase, Merchant-Accounts.ca.
-
For an online business at $5,000 to $25,000 a month · must have Online checkout or payment links
Our pick
Square $340 a month
Lowest cost, and it has online checkout.
Why not the others?
Left out: TouchBistro (a restaurant-only POS).
Can't confirm here (a must-have or the full price isn't published): Helcim, Clover, Lightspeed, Clearly Payments, Global Payments, Chase, Merchant-Accounts.ca.
How we picked
A month of card fees plus the monthly fee at $10,000 in 200 card payments, in person except for online sellers, from each provider's published rates. Providers whose price depends on interchange, a hardware bundle or a quote have no full price here. Our pick is the lowest cost option that has every must-have; within 10% of it, no contract, faster payouts and longer support hours win. Payment from a provider never changes it. How we pick
Not sure which of these fits you? Answer three questions.
Find your best fit
3 questions
Already take cards?
Put three numbers from last month’s statement (card sales, number of payments and total fees) into the fee calculator. It shows your real rate and what the same month would cost at each provider’s published price.
Then check what leaving would cost (see the table below). Our guide to lowering your fees covers what to cut without switching, and whether you qualify for the 2024 fee cut.
Switching processors: what it really saves
The saving from switching is the monthly difference, minus what it costs to leave: an exit fee if your terms have one, and hardware you can’t take with you. Here is that math for a business taking $20,000 a month in card sales, from each provider the fee calculator prices:
Moving to Square (Free plan), the lowest cost in the fee calculator's example month that states there is no contract: $500 a month at $20,000 in 500 in-person card payments. New hardware counted: its Square Reader (2nd generation) at $69.
From Lightspeed, Retail Basic plan
Saves $209 a month (now $709)
First year: about $2,439 saved after the new reader, which the savings cover in the first month, before any exit fee.
Leaving Lightspeed: If you end your plan before the term is over, Lightspeed charges an early termination fee that includes the fees left in the term, and plans renew unless you give 90 days notice on terms longer than 90 days. lightspeedhq.com
Hardware: Lightspeed says you cannot use payment terminals you already own with Lightspeed Payments.
From Moneris, Terminal rental + software fee
Saves $120 a month (now $620)
First year: about $1,370 saved after the new reader, which the savings cover in the first month, before any exit fee.
Leaving Moneris: The Moneris agreement lasts 3 years, then renews every 6 months unless you give notice at least 45 days before the term ends. moneris.com
Hardware: Moneris lets you use equipment it did not provide, but the equipment must meet Moneris specs and may need to be certified by Moneris.
From Shopify POS, Basic plan
Saves $69 a month (now $569)
First year: about $759 saved after the new reader, which the savings cover in the first month, before any exit fee.
Leaving Shopify POS: You can close your Shopify Payments account at any time, and Shopify will not refund fees you already paid. shopify.com
Hardware: Shopify says its own supported card readers need Shopify Payments, but you can use an outside card reader instead.
From Stripe, Reader bought separately
Saves $65 a month (now $565)
First year: about $711 saved after the new reader, paid back in about 2 months, before any exit fee.
Leaving Stripe: You can end the agreement at any time by closing your Stripe account in the Dashboard. stripe.com
This compares published flat rates only. Bigger, steady businesses can pay less again with interchange-plus pricing (the card networks’ fee plus a small markup); see where it crosses over in interchange-plus vs flat rate. For your own numbers, use the fee calculator.
Every major processor, side by side
We may earn a fee if you sign up with some providers in this table. It never changes the prices we show or what we recommend.
- SquareVisit Square
Flat rate
- In person
- 2.5%
- Online
- 2.8% + 30¢
- Monthly
- $0 · Free plan
- Contract
- Month to month
- StripeVisit Stripe
Flat rate
- In person
- 2.7% + 5¢
- Online
- 2.9% + 30¢
- Monthly
- $0 · Reader bought separately
- Contract
- Not published
- Shopify POSVisit Shopify POS
Flat, by plan
- In person
- 2.6%
- Online
- 2.8% + 30¢
- Monthly
- $49 · Basic plan
- Contract
- Monthly or yearly billing
- MonerisVisit Moneris
Flat or custom
- In person
- 2.65% + 10¢
- Online
- 2.85% + 30¢
- Monthly
- $39.95 · Terminal rental + software fee
- Contract
- 3 years, then 6-month renewals (45 days notice)
- Clearly PaymentsVisit Clearly Payments
Interchange-plus
- In person
- Interchange + 0.38% + 8¢
- Online
- Interchange + 0.48% + 23¢
- Monthly
- Not published
- Contract
- Month to month, no cancellation fee
- HelcimVisit Helcim
Interchange-plus
- In person
- Interchange + 0.4% + 8¢
- Online
- Interchange + 0.5% + 25¢
- Monthly
- Not published
- Contract
- Month to month, no cancellation fee
- LightspeedVisit Lightspeed
Flat rate
- In person
- 2.6% + 10¢
- Online
- By quote
- Monthly
- $139 · Retail Basic plan
- Contract
- Fixed term; early exit fee covers the rest of the term
- Merchant-Accounts.caVisit Merchant-Accounts.ca
Flat or custom
- In person
- Not published
- Online
- 2.5% + 30¢
- Monthly
- $0 · Starter plan
- Contract
- No locked-in contract; no cancellation fee on Starter
Prices checked Oct 22 to Oct 26, 2026 on each provider's own pricing page (how we check). "Interchange +" means the provider publishes only its markup. You also pay the card networks' interchange fee on top.Order: providers we can price in full come first, lowest first-year cost for a business taking $10,000 a month across 400 in-person payments; the rest follow alphabetically. Payout never affects the order.
We may earn a fee if you sign up with some providers in this table. It never changes the prices we show or what we recommend.
For Helcim and Clearly Payments, the number shown is their markup on top of interchange, so your total will be higher than it looks. That’s how interchange-plus works, not a trick. Helcim says most of its merchants end up with a total in-person rate near or below 2% (their claim, not ours).
Three things that change what you really pay
1. Debit. If many customers tap a debit card, check the debit price first. Most providers charge a flat fee per Interac payment: 9¢ at Helcim, 12¢ at Moneris, 15¢ at Stripe and Shopify. Square charges 0.75% + 7¢ instead: 22¢ on a $20 sale, $1.57 on a $200 sale.
2. Monthly fees. A low rate with a high monthly fee can cost more than a higher rate with none. Square and Stripe charge no monthly fee to take payments. Moneris lists $34.95 a month to rent its Moneris Go terminal, plus $5 for the software. Shopify’s Basic plan is $49 a month.
3. The fine print.
- Square adds 1.5% on cards issued outside Canada. Expect more of those if you get tourists.
- Chargebacks (when a customer disputes a payment) cost $15 at Helcim (only if you lose), Shopify and Lightspeed, and $25 at Moneris. Stripe charges CA$15, plus another CA$15 if you contest it.
What a month costs at three sizes
These are our estimates from each provider’s published in-person rates. We assume every card was issued in Canada, one terminal or reader, and no online sales, chargebacks or instant payouts. For Moneris we add $39.95 a month for the terminal rental and software fee, counting the $5 monthly because Moneris doesn’t say how often it’s billed.
When every sale is a credit card:
| Monthly card sales | Square | Stripe | Moneris | Helcim |
|---|---|---|---|---|
| $3,000 (120 sales) | $75 | $87 | $131.45 | $21.60 markup, plus interchange |
| $10,000 (400 sales) | $250 | $290 | $344.95 | $72 markup, plus interchange |
| $40,000 (800 sales) | $1,000 | $1,120 | $1,179.95 | $224 markup, plus interchange |
The $10,000 row worked out: Stripe is 2.7% × $10,000 = $270, plus 400 × 5¢ = $20. Moneris is 2.65% × $10,000 = $265, plus 400 × 10¢ = $40, plus $39.95. Helcim’s markup is 0.40% × $10,000 = $40, plus 400 × 8¢ = $32. Helcim has no total because interchange depends on which cards your customers use, so only your own statement or a quote can fill that gap.
When half the sales are Interac debit (half the dollars and half the payments):
| Monthly card sales | Square | Stripe | Moneris | Helcim |
|---|---|---|---|---|
| $3,000 (120 sales) | $52.95 | $52.50 | $92.90 | $10.80 markup, $5.40 to $7.20 debit, plus interchange |
| $10,000 (400 sales) | $176.50 | $175 | $216.45 | $36 markup, $18 to $24 debit, plus interchange |
| $40,000 (800 sales) | $678 | $620 | $657.95 | $112 markup, $36 to $48 debit, plus interchange |
Helcim’s debit range runs from 9¢ per payment to 12¢ if every debit payment is a tap.
Square is hard to beat when you’re small. At $3,000 of credit cards, Moneris’s $39.95 in monthly costs is more than half of Square’s whole bill before you sell anything.
Debit changes the order as sales grow. Square’s debit fee is a percentage, so it passes Moneris’s flat 12¢ on any sale over about $6.67. In the $40,000 month, with a $50 average sale, Moneris comes in under Square even after its monthly fees.
Stripe looks close, but it has no point of sale app of its own for small merchants. You’d need a separate POS or a custom setup, so in-person Stripe mostly suits businesses that already have one.
How to start taking card payments
You need three things: an account with a payment provider, a way to take the card (your phone, a card reader or online checkout), and a bank account for the money to land in.
What it takes to sign up
All-in-one providers such as Square, Stripe and Shopify sign you up online and bundle the merchant account in. A traditional processor such as Moneris sets up a merchant account in your business’s name, under a merchant agreement with a fixed term (see the leaving terms below). Either way, the provider checks who you are and what you sell, and its terms let it ask for more later.
What the first year costs
With no sales history, we price the whole first year: the cheapest way each provider sells to take a card, plus 12 months of card fees and any monthly fee at $2,000 a month in card sales. Our pick must have no monthly fee, no contract and a published payout time.
-
For a shop just starting to take cards · must have Inventory tracking, No monthly fee, No contract, Publishes when you get paid
Our pick
Square $600 in the first year
Lowest cost, and it has inventory tracking, no monthly fee, no contract and a published payout time.
Why not the others?
Left out: Stripe, Clearly Payments, Merchant-Accounts.ca (card processing only, no POS software of its own); TouchBistro (a restaurant-only POS).
Missing a must-have: Moneris (misses: no monthly fee and no contract); Lightspeed, Shopify POS (misses: no monthly fee).
Can't confirm here (a must-have or the full price isn't published): Helcim, Clover, Global Payments, Chase.
-
For a mobile business just starting to take cards · must have Portable reader or Tap to Pay on a phone, No monthly fee, No contract, Publishes when you get paid
Our pick
Square $600 in the first year
Lowest cost, and it has a portable reader, no monthly fee, no contract and a published payout time.
Why not the others?
Left out: TouchBistro (a restaurant-only POS).
Missing a must-have: Moneris (misses: no monthly fee and no contract); Lightspeed, Shopify POS (misses: no monthly fee).
Can't confirm here (a must-have or the full price isn't published): Helcim, Clover, Clearly Payments, Global Payments, Chase, Merchant-Accounts.ca.
-
For an online business just starting to take cards · must have Online checkout or payment links, No monthly fee, No contract, Publishes when you get paid
Our pick
Square $1,032 in the first year
Lowest cost, and it has online checkout, no monthly fee, no contract and a published payout time.
Why not the others?
Left out: TouchBistro (a restaurant-only POS).
Missing a must-have: Moneris (misses: no monthly fee and no contract); Lightspeed, Shopify POS (misses: no monthly fee).
Can't confirm here (a must-have or the full price isn't published): Helcim, Clover, Clearly Payments, Global Payments, Chase, Merchant-Accounts.ca.
How we picked
First-year cost: the cheapest way each provider sells to take a card (Tap to Pay on your phone, counting any per-tap fee for the year, or its lowest-priced card reader) plus 12 months of card fees and the monthly fee at $2,000 in 100 card payments a month, in person except for online sellers, from each provider's published prices. Providers whose price depends on interchange, a hardware bundle or a quote have no full price here. Our pick is the lowest cost option that has every must-have; within 10% of it, no contract, faster payouts and longer support hours win. Payment from a provider never changes it. How we pick
When you actually get your money
A new account can wait longer than the standard payout, and every provider here can hold money if it sees risk. That’s a reason to keep some cash on hand, not to pick one provider over another. What each one publishes:
Square
- Standard free payout
- Next business day squareup.com
- New accounts
- No first-payout delay or new-seller hold published on the pages we read.
- Holds and reserves
- Square can hold or delay your payouts, and it can make you keep a reserve of funds for any reason tied to your use of its services. squareup.com
Stripe
- Standard free payout
- 3 business days docs.stripe.com
- New accounts
- 7 calendar days for the first payout. docs.stripe.com
- Holds and reserves
- Stripe can set up a reserve it controls, and it can delay or hold payouts on a sale it thinks is likely to be disputed. stripe.com
Shopify POS
- Standard free payout
- 3 business days help.shopify.com
- New accounts
- Higher-risk accounts can be paid out over 5 to 20 business days. help.shopify.com
- Holds and reserves
- Shopify can set up a reserve that holds some or all of the money from a sale for a period of time, and can change the reserve terms at any time. shopify.com
Moneris
- Standard free payout
- Next business day moneris.com
- New accounts
- No first-payout delay or new-seller hold published on the pages we read.
- Holds and reserves
- Moneris can hold back your sales money if it suspects fraud or a data breach, and can set up or raise a reserve if it sees added risk. moneris.com
Helcim
- Standard free payout
- Next business day helcim.com
- New accounts
- No first-payout delay or new-seller hold published on the pages we read.
- Holds and reserves
- Helcim can pause or delay your payouts, or make you keep money in a reserve, to cover what you owe it. legal.helcim.com
The cheapest way to start: your phone
If you only take a few card payments, Tap to Pay lets your phone accept tapped cards, with no card reader. What each provider lists:
- Square: Tap to Pay on iPhone has no monthly fee, at the usual 2.5% for credit and 0.75% + 7¢ for debit.
- Moneris: the Moneris Go app is free on iPhone and Android, at 2.45% + 10¢ for credit and 0.70% + 12¢ for debit. You still need a Moneris merchant agreement.
- Stripe: adds CA$0.15 per authorisation for Tap to Pay, on top of the card rate.
- Shopify: Tap to Pay on iPhone is included with every plan and runs through Shopify Payments.
Helcim says its Tap to Pay on iPhone is currently for US merchants only. For reader and terminal prices, see our card terminals page.
Tap to Pay or a card reader?
A per-tap fee adds up. Over a first year at 100 card payments a month:
Square
Tap to Pay: $0 for the app, at the usual card rate
Cheapest reader: $69 (Square Reader (2nd generation))
Cheaper over the first year: Tap to Pay.
Stripe
Tap to Pay: 15¢ a tap, about $180 in a year at 100 payments a month
Cheapest reader: $79 (BBPOS WisePad 3)
Cheaper over the first year: the reader. The reader costs less once you take more than about 43 card payments a month.
Shopify POS
Tap to Pay: $0 for the app, at the usual card rate
Cheapest reader: $69 (WisePad 3 Card Reader)
Cheaper over the first year: Tap to Pay.
Moneris
Tap to Pay: $0 for the app, at the usual card rate
Cheapest reader: no published price
Beyond the rate: holds, outages and leaving
Each provider’s terms decide what happens when something goes wrong. From their own terms and help pages, checked October 19, 2026:
Every big provider can hold your money. Square, Moneris, Helcim, Stripe and Shopify all say they can delay payouts or make you keep a reserve. Square’s terms say it “may require a Reserve for any reason related to your use of the Services.” That’s a reason to keep some cash on hand, not to pick one provider over another.
| Provider | Leaving | Taking cards offline |
|---|---|---|
| Square | Close your account anytime | Yes. Payments must upload within 72 hours, and you carry the risk of declines |
| Helcim | No cancellation fee. You close by calling support during business hours | Not on the Card Reader |
| Moneris | 3-year term, then 6-month renewals unless you give 45 days’ notice | On Moneris Go, once Moneris turns it on. Default limit of $250 a sale |
| Stripe | Close your account in the Dashboard anytime | Mobile and smart readers (smart readers still need a local network). You carry the risk of declines |
| Clover | 30 days’ notice. Termination fees depend on who sold it to you | Clover’s own pages disagree for Canada |
| Lightspeed | Early termination fee includes the fees left in your term | Retail terminal, payment only. No Interac offline |
Hardware matters when you leave, too. Clover devices can’t be used with other processors, so leaving means new hardware. Lightspeed says terminals you already own can’t be used with Lightspeed Payments. Helcim’s POS app only works with an iPhone and Helcim’s own reader and terminal.
Sources: Square terms and offline help, Helcim terms, Moneris merchant agreement, Stripe offline docs, Clover terms, Lightspeed service agreement.
Moneris is also changing owners. On August 10, 2026, it announced that Francisco Partners has entered into a definitive agreement to acquire it from BMO and RBC, expected to close by the end of the first quarter of BMO and RBC’s fiscal year 2027. Our Moneris page covers what to ask before you sign.
Quote-only providers
Clover, Global Payments, Chase and TouchBistro don’t publish their processing rates, so you can’t compare them until you ask. Get any quote in writing and check it against your real rate from the calculator.
TD Merchant Solutions is now tied to Clover. In July 2025, TD announced that it “will provide Fiserv’s advanced Clover product offering, payment processing and servicing to its clients,” and that Fiserv was buying “a select portfolio of approximately 3,400 TDMS merchant group contracts with 30,000 merchant locations.” If you process with TD, ask who your processor is today and whether your terms have changed.
Chase still serves Canada as Chase Payment Solutions. Its terms let you end the agreement anytime without penalty, but if you don’t return its equipment, you pay the full price of new equipment.
Want the full breakdown?
- Credit card processing fees explained: every fee on your statement, in plain English.
- POS systems compared: if you need menus, inventory or staff tools, not just card payments.
- Interchange-plus vs flat rate: which pricing model suits your size.
- How to lower your fees: including the 2024 small-business fee cut and whether you qualify.
- Our pages on Square, Helcim, Moneris, Stripe, Clearly Payments and Merchant-Accounts.ca cover each provider’s full cost and catches.
Common questions
What is the cheapest payment processor in Canada?
It depends on your size. For a small business taking payments in person, Square's flat 2.5% with no monthly fee is the simplest low-cost option. Once your sales are steady and larger, interchange-plus providers such as Helcim (interchange + 0.40% + 8¢ in person) usually cost less. Our fee calculator shows the numbers for your business.
How much are credit card processing fees in Canada?
Published in-person rates from the flat-rate providers we compare run from 2.5% (Square) to 2.7% + 5¢ (Stripe). Moneris lists 2.65% + 10¢. Interac debit is usually a flat 9 to 15 cents per payment, except Square, which charges 0.75% + 7¢.
What is the difference between a payment processor and a merchant account?
The processor moves the money from your customer's card to you. The merchant account is where those card sales sit before they land in your bank. Traditional processors like Moneris set one up in your business's name. Square and Stripe bundle it in, which is why signing up with them is usually quicker.
Do I have to sign a contract?
Not always. Square, Helcim and Clearly Payments are month to month, and Helcim and Clearly Payments say there is no cancellation fee. Moneris's merchant agreement runs 3 years, then renews every 6 months unless you give notice. Clover says termination fees vary by the company that sells it to you. Get the cancellation fee in writing before you sign.
What is the cheapest way to accept card payments?
For a small seller, it's often the phone you already own. Square's Tap to Pay on iPhone has no monthly fee and uses its standard 2.5% credit rate. The Moneris Go app is free and lists 2.45% + 10¢ for credit, but needs a Moneris merchant agreement. Stripe adds 15¢ per tap. You still pay a card fee on every sale.
How much does a payment gateway cost in Canada?
With an all-in-one provider like Square or Stripe, you don't pay for a gateway separately: it's part of the online card rate. Square charges 2.8% + 30¢ and Stripe 2.9% + CA$0.30 per online card payment, and both list no monthly fee. Moneris lists 2.85% + $0.30 for card-not-present payments; ask whether its online product adds a monthly fee.
What is TD Merchant Solutions?
It's TD Bank's card processing service for businesses. In July 2025, TD said it would offer Fiserv's Clover products, payment processing and servicing to its clients, and that Fiserv was buying about 3,400 TD merchant group contracts covering 30,000 locations. TD doesn't publish its processing rates, so you need a quote to compare it.