CAD Support, Low Fees, and Interac Integration
Canada’s e-commerce market is thriving, with $107 billion in online sales projected for 2025 (Statista). To succeed, businesses need payment gateways that support CAD, USD, and Interac while complying with the Payment Card Industry Data Security Standard (PCI DSS) . This guide reviews the top 5 payment gateways in Canada for 2025, focusing on:
- Interac e-Transfer integration (critical for local consumers).
- Multi-currency support for exporters.
- Lowest fees for small businesses and enterprises.
1. Stripe: The Global Powerhouse (CAD-Optimized)
Best For : Startups, SaaS platforms, and global businesses.
Why Stripe Dominates Canada
Stripe powers payments for Shopify, Instacart, and Amazon , processing $1 trillion+ annually . Its Toronto-based engineering team ensures seamless CAD support.
Key Features
- Multi-Currency : Accept CAD, USD, and 135+ currencies with zero forex markup.
- Interac Support : Enable instant bank transfers via Interac e-Transfer.
- Fraud Tools : Stripe Radar blocks 85% of fraud attempts.
Pricing
- Domestic Cards : 2.9% + CAD 0.30.
- International Cards : 2.9% + CAD 0.30.
- Interac e-Transfer : 0.8% per transaction.
Case Study :
Toronto-based Wealthsimple used Stripe to expand into the U.S. while managing CAD/USD conversions at zero markup.
2. PayPal Canada: The Trustworthy Workhorse
Best For : Freelancers, eBay sellers, and small businesses prioritizing speed.
PayPal’s Role in Canada
PayPal powers 8 million Canadian users , offering instant setup but higher fees for high-volume sellers:
Pros
- Instant Setup : Start accepting payments in minutes.
- Seller Protection : Covers physical goods and eligible digital products.
- Invoicing : Send CAD-compliant invoices with auto-reminders.
Cons
- Fees : 2.99% + CAD 0.30 per transaction (vs. Stripe’s 2.9% + CAD 0.30).
- Currency Conversion : 4.5% markup for CAD to USD.
Pro Tip : Use PayPal for CAD-only sales but pair it with Stripe for USD transactions.
3. Shopify Payments: The Canadian Homegrown Hero
Best For : E-commerce businesses using Shopify (no surprise here!).
Shopify’s Payment Edge
As a Canadian company (headquartered in Ottawa), Shopify Payments powers 1.7 million+ businesses globally , including Allbirds and Gymshark.
Key Features
- Seamless Integration : Built into Shopify’s platform—no extra setup.
- Multi-Currency : Dynamic checkout in 20+ currencies.
- PCI Compliance : Fully managed by Shopify.
Pricing
- Transaction Fees : 2.4%–2.9% + CAD 0.30 (varies by Shopify plan).
- No Monthly Fees : If you’re already using Shopify.
User Review :
“Shopify Payments saved us CAD 2,000/year in gateway fees by eliminating third-party integrations.”
— Owner of a Vancouver-based apparel brand
4. Moneris: The Enterprise Titan
Best For : Large retailers and businesses needing in-store + online solutions.
Why Moneris Stands Out
Moneris processes 3.5 billion transactions annually for brands like Lululemon and Tim Hortons. Its Interac Debit integration is unmatched.
Features You’ll Love
- Omnichannel Support : Sync online, in-store, and mobile payments.
- Interac Debit : Accept payments via chip, tap, or e-Transfer.
- Fraud Prevention : Real-time monitoring for high-risk transactions.
Pricing
- Custom Quotes Only : Starts at 2.3% + CAD 0.15 for volume-based clients.
Case Study :
A Canadian grocery chain used Moneris to reduce checkout times by 30% with Interac Debit tap-to-pay.
5. Square Canada: The Small Business MVP
Best For : Retailers, cafes, and service providers.
Square’s Rise in Canada
Square powers 500,000+ Canadian businesses , offering a free POS system and transparent pricing.
Key Features
- Free POS System : Accept payments via mobile app or register.
- Transparent Pricing : 2.65% + CAD 0.10 per tap, dip, or swipe.
- Loyalty Programs : Boost repeat sales with rewards.
The Catch
- No Multi-Currency Support : Stick to CAD only.
- Limited Customization : Not ideal for enterprise-level needs.
Pro Tip : Use Square for in-person sales and pair it with Stripe for online transactions.
Comparison Table: Canada’s Top Gateways
| Gateway | Interac Support | Domestic Fee | Multi-Currency | PCI Compliance | Best For |
| Stripe | Yes | 2.9% + CAD 0.30 | 135+ | Yes | Startups, global businesses |
| PayPal | No | 2.99% + CAD 0.30 | 25+ | Yes | Freelancers, quick setups |
| Shopify Payments | Yes | 2.4%–2.9% + CAD 0.30 | 20+ | Yes | Shopify-based e-commerce |
| Moneris | Yes | Custom | CAD, USD | Yes | Enterprises, omnichannel |
| Square | Yes | 2.65% + CAD 0.10 | CAD only | Yes | Retailers, small businesses |
How to Choose Like a Pro: 5 Canada-Specific Tips
- Interac is King : Avoid gateways without e-Transfer support.
- Export-Friendly : Stripe or Shopify Payments for USD/CAD.
- Enterprise Needs : Moneris for in-store + online integration.
- Budget Pick : Square saves CAD 1,000s for small businesses.
- E-Commerce : Shopify Payments eliminates third-party fees.
Final Verdict: Who Wins in Canada?
- Best Overall : Stripe (global + Interac support).
- Budget Pick : Square (transparent pricing for SMBs).
- E-Commerce : Shopify Payments (seamless integration).
Action Step :
Test Stripe + Square for a mix of online and in-person payments.
