The amount of point-of-sale debits in Canada has grown from just under 3 billion in 2008 to just over 3.4 billion today according to the Canadian Payments Association. Canada has many players offer credit and debit card payment processing terminals and services to merchants across the country. Here are the major players:
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Moneris Solutions, founded by two of Canada’s largest banks, offers a suite of payment processing solutions to help merchants accept credit and debit cards online. Options include point-of-sale payment processing, wireless payment processing, the ability to accept payments online as well as a mobile payment card reader allowing merchants to swipe payment cards on their mobile smartphone or tablet. It also provides services ranging from the ability to issue gift cards to the opportunity to process payments by phone. The company declined to disclose its annual transaction volume or its fees but its PAYD mobile payment service website says it charges 2.75 per cent per transaction for that service.
DARRYL DYCK/The Globe and Mail
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TD Merchant Services also offers a variety of ways to accept credit and debit cards. These options include countertop point-of-sale terminals, wireless point-of-sale machines, online payment acceptance, the ability to process payments by phone and many other options. The company declined to disclose its annual transaction volume or fees.
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Chase Paymentech began operations in Canada in 2002 with the purchase of Scotiabank’s merchant acquiring point-of-sale portfolio, and shortly thereafter Citibank’s portfolio. Chase Paymentech’s offers merchants the opportunity to accept credit, debit, and gift card payments. Chase Paymentech’s full line-up of standalone and integrated payment solutions include countertop, Pay-at-the-Table, short– and long-range wireless, EMV chip, online orders, contactless and mobile payment options. The company declined to disclose its fees but claim 29.5 billion transactions with a value of $655.2-billion in 2012 globally, including an estimated half of all global Internet transactions.
© Lucas Jackson / Reuters/REUTERS
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Global Payments allows merchants to accept MasterCard, Maestro, Visa, Visa Debit and Interac Direct Payment. Customers can accept payments at point of sale, online, by phone or mail. The company works closely with HSBC, the National Bank of Canada and the Canadian Imperial Bank of Commerce (CIBC). The company declined to disclose its fees.
Deborah Baic/The Globe and Mail
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Desjardins provides a suite of payment processing solutions such as point-of-sale payment processing, wireless payment processing, online payment acceptance, mobile payment payment processing, the ability to issue gift cards as well as the opportunity to process payments by phone. Fees range from $35 a month for customized plans to 2.52 per cent per transaction for accepting payments via phone. The company processes roughly 551 million transactions a year.
Fred Lum/The Globe and Mail