As e-commerce continues to grow in popularity, online payment processors have become an essential part of doing business in Canada. Whether you run an e-commerce store, a subscription-based business, or a freelancing service, having a reliable and secure online payment processor is crucial.

A payment processor is simply a company that facilitates payments between merchants and banks. While Canadians don’t have quite as many options as our neighbours down south, we do have a number of reliable and established companies to choose from to get the job done.

PayPal

PayPal is one of the most popular online payment processors in the world. It’s easy to use and widely accepted by many online businesses. PayPal also offers buyer and seller protection, ensuring both parties are protected from fraudulent transactions. In addition, PayPal has a range of tools to help businesses manage their payments, including invoicing and reporting features. This makes it popular among freelancers and online entrepreneurs.

Stripe

Stripe is another popular online payment processor that offers a wide range of features, including subscriptions, invoicing, and checkout customization. Stripe is known for its easy-to-use interface and competitive pricing. Additionally, Stripe is compatible with a wide range of e-commerce platforms, making it a great choice for businesses of all sizes. It is a top choice among those providing software as a service.

Square

Square is an established online payment processor widely used by small businesses in Canada, particularly in retail. In fact, it was one of the first smartphone payment processing systems available on the market. Square provides a range of features, including point-of-sale systems, invoicing, and online payments. Square is also known for its transparent pricing, which makes it easy for businesses to understand their fees and charges.

Moneris

One of the key advantages of Moneris is its ability to accept a wide range of payment methods, including credit and debit cards, mobile payments, and gift cards. Moneris also offers a range of security features to help protect businesses from fraudulent transactions, such as real-time fraud detection and chargeback protection. Additionally, Moneris provides detailed reporting and analytics tools, which can help businesses gain valuable insights into their transactions and customer behaviour.

Global Payments

Global Payments offers a wide range of payment processing solutions, including in-store, online, and mobile payments. The company also boasts advanced security features, such as encryption and tokenization, to help protect businesses from fraud and data breaches. With its comprehensive features and reliable service, Global Payments is a great choice for larger Canadian businesses, particularly those in retail or with multiple locations.

KIS Payments

Based in British Columbia, KIS Payments offers an easy-to-use platform and simple integration with various e-commerce platforms and shopping carts. KIS Payments is also known for its competitive pricing and flexible contract terms, making it an affordable choice for businesses of all sizes. Another benefit of KIS Payments is its reliable and secure payment processing, which includes advanced fraud detection and chargeback protection.

Many online payment processors are available in Canada, each with its own features and benefits. By choosing the right one for your needs, you can receive and make payments online securely and efficiently.