The three buckets of cost
Every card-acceptance bill breaks into three parts: the hardware, the processing rate on each transaction, and monthly account fees. Most merchants fixate on the first and ignore the other two, which is exactly backwards. Processing rates and fees almost always dwarf the cost of the device over a year.
Hardware: rent, lease or buy
Renting a terminal in Canada commonly runs from roughly $20 to $35 per month depending on the model. Buying outright costs a few hundred dollars up front. Leasing spreads the cost but usually costs the most over time.
We compare the three approaches in detail in rent, lease or buy your payment terminal. For most small businesses, renting or buying beats a long lease.
Processing rates: where the money goes
Processing is the biggest number. With Armour Payments, online Canadian credit transactions start from 0.72% + 5¢, and in-person Interac debit can be as low as 5¢ per tap. Rates vary by card type and pricing model.
The fairest structure is interchange-plus, where you see the true card-network cost plus a fixed markup. Learn why in hidden terminal fees. Compare plans on our pricing page.
The fees that quietly add up
Statement fees, PCI fees, minimum-monthly fees, batch fees and non-compliance penalties can add $20 to $80 a month if you aren't careful. Ask any provider for an all-in monthly estimate and a sample statement.
Armour Payments keeps the account fee simple, payment processing starts at $5/month, so your bill is easy to predict.