The top tricks for Canadian credit card processing companies

Most Credit Cards are Supported by TRC-Parus

You need to make sure you have good rates as a merchant. If you don’t have good credit card processing rates, it means less cash flow for you. You have higher costs, less profit, and will potentially need to resort to higher prices for your customers. It’s a downward spiral that makes it hard to compete.

We get questions all the time like “Why are my Canadian credit card processing rates different that what I was told?”. This happens in payments, even in Canada, and here are the top tricks to look out for.

Teaser rates for credit card processing

Credit card processing companies may publish rates like 1.50%. Even Costco says it will give those rates. Unfortunately, those are not the full rates. That is the rate if a customer uses a certain card in a certain way. It’s far from the rate you will end up paying as a business. Even more, there are likely more fees on top of that like set-up fees, monthly fees, and transaction fees. Watch out for these. Find out what your effective rate will be. Your effective rate is your true rate.

No cancellations or cancellation fees

The last thing you want to do is find out your Canadian payment processor will charge you $1000 if you decide to switch anytime within 4 years. Sign up with a credit card processor that has no cancellation fees. This means you need to read your contract. Even better, we’ll help you. Call TRC-Parus and we’ll compare rates and tell you if you’re getting a fair deal.

Merchant account monthly minimums

Canadian credit card processors sometimes implement monthly minimums. That means if you do not process “enough” in any month, you need to pay a minimum fee. That minimum fee might be anywhere from $20 to $75 per month. That’s a hefty fee for not even using the service. Sign up with a credit card processor that has no monthly minimums.

Creeping credit card processing rates

It’s great when you get credit card processing provider all set up. Sometimes Canadian credit card processors will slowly raise your rates every six months. It’s sometimes hard to notice because you’re busy running your business. Most of the time, you’ll find out 2 years laters and thousands of dollars later. Go with a trustworthy Canadian credit card processor that will not raise your rates without specifically getting your permission.


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