Choosing the right payment processor in Canada depends on your transaction volume, how you accept payments, the technology you use and the pricing model that fits your business.
This guide compares leading payment processors available to Canadian businesses, including their payment options, pricing approach, technology and the types of businesses they may be best suited for.
Updated August 2026
| Provider | Good fit for | Pricing approach | In-person | Online |
|---|---|---|---|---|
| Clearly Payments | Businesses wanting a dedicated merchant account and customized payment setup | Interchange-plus and other pricing options | Yes | Yes |
| Moneris | Canadian businesses wanting a large established provider | Flat-rate or interchange-plus options | Yes | Yes |
| Fiserv / Clover | Businesses wanting payments with Clover POS technology | Customized by merchant and solution | Yes | Yes |
| Global Payments | Businesses needing in-person, online or integrated payments | Customized by merchant and solution | Yes | Yes |
| Square | Small businesses wanting simple POS and flat-rate pricing | Flat-rate; custom pricing available for qualifying volume | Yes | Yes |
| Stripe | Online, software and integration-focused businesses | Flat-rate; custom pricing available | Yes | Yes |
| Chase Payment Solutions | Businesses wanting merchant services from a major financial institution | Customized by merchant and solution | Yes | Yes |
This is a guide to choosing the best payment processor in Canada. Knowing the top payment processor options means a better decision. There are many payment processors out there, so you will not have a problem finding one. However, finding the best payment processing in Canada is difficult.
Payment processors are sometimes called different things: merchant services providers, payment gateways, merchant acquirers, ISOs, and merchant accounts. This guide goes through the top things to look for in choosing a payment processor, then lists the top payment processors in Canada, attempting to call out the facts.
Payment processing is not just about finding the lowest advertised transaction rate. The right provider should fit how your business accepts payments today and where it is going.
The best way to compare payment processors is to look at the complete payment setup rather than a single advertised rate. For established businesses, providing recent processing statements can also make it easier to compare the actual cost of different options.
There two main types of merchant accounts. You can either get a dedicated merchant account for your business or a shared merchant account that is used by many businesses at once. If you want to have some quick background information, read our Payment Processing Guide. It will cover the range of topics you must know in payment processing and merchant accounts in Canada.
When evaluating the best payment processors in Canada, there are a several things to keep in mind. If you are going to accept credit cards, you will need a merchant account in one way or another. When you have your own merchant account, it is customized for your business and considers things like your annual processing volume, average transaction size, and types of cards you accept. Shared merchant accounts generally called payment aggregators.
Merchant accounts and payment aggregators are two common ways businesses can accept card payments. The right structure depends on factors such as transaction volume, business type, payment channels, software requirements and the level of support a business needs.
With a dedicated merchant account, the business is individually underwritten and receives a merchant account for processing payments. This approach can provide more flexibility around pricing, payment technology and account configuration, particularly for established or higher-volume businesses.
A payment aggregator allows multiple businesses to accept payments through a shared payment infrastructure. Providers such as Square and Stripe have made this model popular because businesses can often get started quickly with relatively simple pricing and technology.
Neither model is automatically better for every business. Smaller businesses may value the simplicity of an aggregator, while established or higher-volume businesses may benefit from comparing dedicated merchant account options. Businesses should consider the total cost, payment methods, technology, support and contract terms rather than choosing based on transaction rates alone.
Clearly Payments
Clearly Payments provides merchant accounts and payment processing for Canadian businesses, with solutions for in-person, online and mobile payments. Businesses can use payment terminals, ecommerce and gateway solutions, virtual terminals, invoicing, recurring payments and other payment options depending on how they operate.
Clearly Payments focuses on transparent pricing and flexible payment setups, including interchange-plus pricing. It works with businesses to understand their transaction volume, payment channels and technology requirements before recommending a payment setup.
Fiserv (First Data)
Fiserv is a global payments and financial technology company that acquired First Data in 2019. In Canada, Fiserv provides merchant payment solutions for in-person, online and mobile payments, including Clover point-of-sale systems and payment terminals.
Fiserv can be a good fit for businesses looking for an established provider with a broad range of payment and POS capabilities. Pricing and the appropriate solution depend on the merchant’s business and payment requirements.
Global Payments
Global Payments provides payment processing and commerce solutions for Canadian businesses, including in-person, online and mobile payments. Its offering includes payment terminals, point-of-sale systems, ecommerce, invoicing, recurring payments and integrated payment solutions.
Global Payments can be a good fit for businesses looking for an established provider with a broad range of payment technology and integration options. Pricing and the appropriate setup depend on the merchant’s business, payment channels and requirements.
Global Payments generally has a 3 year contract with cancellation fees. You should make sure you review the contract in detail. Customer complaints focus on fees related to cancellations.
Moneris
Moneris is a Canadian payment processing company offering in-person, online and mobile payment solutions, including payment terminals, point-of-sale systems and ecommerce payments. It was established by RBC and BMO and has become one of Canada’s largest payment providers.
In August 2026, RBC and BMO announced an agreement to sell Moneris to U.S.-based technology investment firm Francisco Partners. The transaction is subject to customary closing conditions and regulatory approvals.
Moneris generally has a 3 to 4 year contracts with cancellation fees of around $250. You should make sure you review the contract in detail. There is 24/7 customer service available. Customer complaints focus on poor customer service or long waits to get a hold of someone.
Square Payments
Square has no sign up fees, no cancellation fees and flat rate pricing, depending on how you’re taking the payments. Credit card rates range from 2.75% to 3.4%. Because of no monthly fees, this pricing works well for small merchants. Once you process above $50k per year, it’s best to get your own merchant account from another provider.
They have very little customer support. Customer complaints focus on poor customer service or accounts being closed without warning. The flat rate pricing makes Square great for businesses that process less than $4,000 per month.
Stripe Payments
Stripe provides payment infrastructure for businesses accepting payments online, in person and through software applications. Its products include online payments, Stripe Terminal for in-person payments, invoicing, subscriptions, payment links and a broad range of APIs and integrations.
Stripe can be a good fit for ecommerce businesses, software companies and businesses that want significant flexibility to integrate payments into their own technology. It offers standard pricing as well as custom pricing for businesses with larger payment volumes or specific requirements.
They have customer support via email and X (Twitter). Customer complaints focus on poor customer service or accounts being closed without warning. The flat rate pricing makes Stripe great for businesses that process less than $4,000 per month otherwise it starts to get very expensive.
Chase Merchant Services
Chase Payment Solutions provides merchant services for Canadian businesses accepting payments in person, online and on the go. Its offering includes POS systems, payment terminals, mobile payments, ecommerce processing, virtual terminals and integrated payment solutions.
Chase can be a good fit for businesses looking for an established payment provider with a broad range of payment acceptance options and integrations. Pricing varies based on the merchant, payment solution and processing requirements.
It is known for services larger businesses. Smaller businesses have noticed not the best support, likely because of the focus on enterprises.
Already accepting payments? Clearly Payments can review your current payment setup and processing statements to help you understand your pricing and available options.
Or Call us at 1-800-818-1402