At a glance, side by side
Every row comes from each provider’s own published pages, checked on the date shown in the sources.
| Helcim | Square (Canada) | |
|---|---|---|
| Pricing model | Interchange plus, for all merchants | Flat rate, same for every credit card brand |
| Credit card, in person | Interchange + 0.40% + 8¢ (Tier 1). Visa consumer card combined: 1.75% + 8¢ | 2.5% |
| Online or keyed in | Interchange + 0.50% + 25¢ (Tier 1). Visa consumer card combined: 2.00% + 25¢ | 2.8% + 30¢ online; 3.3% + 15¢ keyed in or card on file |
| Interac debit | 9.0¢ chip and PIN; 12.5¢ tap (Tier 1) | 0.75% + 7¢ |
| Cards from other countries | +0.68% in CAD; +1.13% online in USD (Visa and Mastercard) | +1.5% |
| Volume discounts | Five tiers, down to 0.15% + 6¢ in person over $1 million a month | Custom rates “may be available” over $250,000 a year |
| Monthly fees | “No account monthly fees” | Free $0; Plus from $35 a month; Premium custom |
| PCI fee | $0 | Not listed on the pages we read |
| Chargeback fee | $15, or $0 if resolved in your favour | “There are no fees for dispute management services for chargebacks” |
| Hardware | Card Reader $239; Smart Terminal $429 or 12 × $39 | Reader $69; Terminal $399; Register $999 |
| Payouts | “Next-business-morning deposits” | Free, “as soon as the next business day” (the pricing page also says one to two business days); instant for 1.95% |
| Contract and cancellation | “No penalties for termination or cancellation fees” | “No long-term contracts or equipment fees. Cancel anytime.” |
| Funds after leaving | Reserve “for a minimum of six (6) months” may be required | Not listed on the pages we read |
How each one prices
Helcim says it “provides all merchants with a billing method known as Interchange Plus pricing.” Interchange is the fee your processor pays your customer’s bank; it differs by card. Helcim adds its margin on top:
| Monthly card volume | In person | Online or keyed in |
|---|---|---|
| Tier 1: $0 to $50,000 | 0.40% + 8¢ | 0.50% + 25¢ |
| Tier 2: $50,001 to $100,000 | 0.35% + 7¢ | 0.45% + 20¢ |
| Tier 3: $100,001 to $500,000 | 0.25% + 7¢ | 0.35% + 20¢ |
| Tier 4: $500,001 to $1,000,000 | 0.20% + 6¢ | 0.25% + 15¢ |
| Tier 5: over $1,000,000 | 0.15% + 6¢ | 0.15% + 15¢ |
Helcim says tiers are set by “a 3-month rolling processing average.” Its fee disclosure also lists combined rates by card at Tier 1, such as 1.75% + 8¢ for a Visa consumer card in person and 2.58% + 8¢ for a Visa Privilege card.
Square uses flat-rate pricing. Its pricing page says: “You pay the same base rate for every credit card.” Its support article says fees are taken from the total amount of each sale, “including tax and tip.”
More on the two models: Flat Rate vs Interchange Plus vs Tiered.
What the statements look like
On interchange plus, interchange and the margin are separate, and each card type is listed. On flat rate, one rate per type of sale is shown, and interchange is not shown on its own. Square’s support article says merchants can see processing fees by location in the Square Dashboard. See How to Read Your Merchant Statement.
Contracts and cancellation
- Helcim: its terms say the account can be closed “at any time” and “There are no penalties for termination or cancellation fees.” Helcim may require a reserve for at least six months after termination.
- Square: its hardware page says “Square has no long-term contracts or equipment fees. Cancel anytime.”
More: Early Termination Fees.
Hardware and software costs
| Helcim | Price | Square (Canada) | Price |
|---|---|---|---|
| Card Reader | $239 | Square Reader (2nd generation) | $69 |
| Smart Terminal | $429, or 12 × $39 | Square Terminal | $399, or $34 a month over 12 months |
| Square Stand | $249, or $21 a month over 12 months | ||
| Square Register (2nd generation) | $999, or $84 a month over 12 months |
Square says its instalments are “available on orders of $59–$5,000 at 0% APR.” Helcim’s prices are listed “plus applicable taxes.”
What each one charges extra for or leaves out
- Helcim lists recurring billing at +0.4% per transaction, and no signup, PCI or statement fees.
- Square lists instant transfers at 1.95%, Afterpay at 6% + 30¢, and paid plans for more features.
Where to go from here
Full provider pages: Helcim and Square. Another side-by-side: TD Merchant Solutions vs Helcim. The card fee calculator works out each provider’s rates against a given level of monthly sales.
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