There is no “one size fits all” in payment processing. If you’re looking for the top payment processor, figure out what is important to you. The main things you’ll want to consider are the ways you accept payments such as online, physical storefront or office, or mobile. The second thing you’ll want to consider is the service level you’re ok with. Do you want to be able to call a support line or are you ok with self-serve? This can make all the difference in payment processing.
Top payment processors by ways to accept payments
This is the most important thing to look for. If you can’t accept payments the way your business needs, you’re in trouble. There are payment processors that focus on online payments. There are payment processors that focus on physical, in-person payments. Then there are payment processors that focus on payments when you’re mobile. Lastly, there are payment processors that deliver them all with a full solution.
Top payment processor by customer service level
This is likely the second most important item. Some payment processors have set themselves up to let merchants help themselves. They offer online forums and documentation to support merchants. Other payment processors have support staff available by phone, email, or live chat.
Some merchants are happy to help themselves. This means they can troubleshoot problems without assistance and generally use the out-of-the-box product solution. Anytime you want to connect to other software systems or you want to customize the checkout experience, it’s nice to have customer support available.
Top payment processors in Canada in 2021
To keep things super simple, we’ve listed the top payment processors in Canada in a few categories. In full disclosure, we’re certainly biased as being Clearly Payments, but we have many customers to back up our opinion.
Top full solution payment processor with full customer service
Clearly Payments offers a full payment solution with online, mobile, and physical storefront or office payments. Clearly Payments has world-class technology and service. One of the benefits of Clearly Payments is the customer support is offered by email, phone, or live chat. This is offered anytime you have an issue. They’ll stay on your case until you’re up and running. They aim to be known as the friendliest payment processor on Earth. If you’re looking for a full solution, Clearly Payments is the top payment processor.
Top online payment processor with self-serve support
Stripe is a company that has grown quickly over the years. It offers a fantastic online payment platform. Although their customer support is primarily self-serve, they are known for great documentation. Stripe has relatively high fees at 2.9% and $0.30 per transaction, but that works well for merchants processing below $100,000 per year. If you’re looking for a great online payment processor and want to do it yourself, Stripe is the best way to go.
Top mobile payment processor with self-serve support
Square is known as a mobile payment processor. They have a great mobile POS for phones and tablets. You can take payments, track inventory, and manage your customers and employees. They offer self-serve support for the most part, but their apps are quite nice so any semi-technical merchant should have no problem. Similar to Stripe, they have relatively high fees with an average of 2.9% and $0.30 per transaction. They range from 2.65% to 3.4%. If you’re looking for mobile payments only, it’s hard to beat Square.