Look beyond the headline rate. Compare processing, software, equipment, and contract terms using the same transaction assumptions.
Different models describe fees differently. A fair comparison uses your actual transaction mix and a full list of charges.
A quoted percentage, sometimes with a per-transaction amount, may apply to a defined category of payments. Check what is excluded and whether in-person, online, international, or manually entered payments are treated differently.
Underlying interchange and applicable network costs are combined with a processor markup. Ask which charges pass through, how the markup is calculated, and what other recurring or transaction charges apply.
Transactions may be assigned to pricing categories. Ask which cards and acceptance methods fall into each category, how exceptions are priced, and how the estimate uses your actual card mix.
Passing an eligible credit-card cost to a customer is a separate decision from the processor’s pricing model. It changes the checkout experience and requires a province- and network-specific assessment. It does not automatically eliminate every business cost.
Use the same monthly volume, transaction count, card mix, and sales channels for every proposal.
Percentage fees, per-transaction fees, network charges, international cards, manually entered payments, refunds, disputes, and other applicable charges. Request a worked example with assumptions clearly stated.
POS subscriptions, extra locations or users, add-on apps, hardware purchase or rental, connectivity, accessories, and installation. A lower processing estimate may come with a different software commitment.
Initial term, automatic renewal, notice periods, cancellation, equipment return, and promotion expiry. If services are bundled, ask what each costs when the offer ends or the processing agreement changes.
Deposit timing, cut-off times, reserve or hold conditions, chargeback support, and escalation channels. These affect daily operations even when they are not part of the headline percentage.
One typical month is a starting point. Seasonal businesses may need several statements to represent their year.
Identify in-person, online, and keyed transactions, plus debit and credit activity. Record both total value and number of transactions because a per-transaction fee affects a small-ticket business differently.
List monthly account, software, equipment, and other fixed charges separately. Record annual fees as well, so they are not missed in a one-month comparison.
Refunds, disputes, foreign cards, or a seasonal spike can distort one month. Ask the provider to explain unfamiliar line items instead of treating every charge as avoidable.
Ask for the assumed card mix, transaction count, and exclusions alongside the estimate. We can scope a review; no saving or lowest-rate claim is promised before your information is assessed.
Check current requirements with your processor before changing checkout pricing.
FCAC states that credit-card surcharging is an option except in Quebec. Network rules can also restrict eligible cards and require advance notice.
FCAC describes a maximum 2.4% cap and a limit based on actual acceptance cost, with disclosure requirements. Confirm the applicable network rules, signage, receipts, and customer alternatives before implementation.
All starting values are hypothetical examples, not StartupCanada rates or an offer. Enter the same sales assumptions for both scenarios. No information is submitted or saved.
Scenario A is $240 lower over the first year with these inputs.
Formula: sales × percentage + transactions × transaction fee + monthly fixed costs. First year = 12 months + one-time costs. Excludes taxes and any charges you have not entered. For interchange-plus, use an estimated effective all-in percentage, not the processor markup alone. This simplified model does not predict card mix or future savings.
We can discuss your needs, but an accurate comparison requires transaction and business information. Any proposed rate and eligibility are confirmed by the provider.
No. Transaction charges, fixed fees, card mix, equipment, and subscriptions can change the total. Compare a full period using consistent assumptions.
Start with a general enquiry. Do not submit banking details or full payment-card data through the website form. The team can agree an appropriate process for any documents needed.
Compare handheld, countertop, and workstation formats.
Read more EXPLORE THE GUIDEUnderstand pricing models and compare your own numbers.
Read more EXPLORE THE GUIDEA nine-step path through preparation, training, and go-live.
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