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Deal Addict
Nov 1, 2009
1263 posts
486 upvotes
Lord Denning wrote:
Feb 12th, 2019 11:41 pm
I get paid infrequently but in large amounts (usually around $5-9k) never more than 20 transactions in a year - any suggestions on a reasonable service for low volume large sales?

Right now I make clients pay using cheques but I keep getting requests for credit cards. I don't mind some fees but paying hundreds on every individual transaction is not the most appealing.
Moneris perhaps?
Although I don't know how competitive their rates & services.
Jr. Member
Oct 10, 2012
185 posts
52 upvotes
Lord Denning wrote:
Feb 13th, 2019 12:46 am
E-transfers have daily and weekly limits that are typically not sufficient. More importantly I suspect the client wants to get points on a large purchase. Understandable.

I wish someone offered a fixed transaction fee for credit usage or a cap (e.g. 3% of the sales price until a maximum of $25.00 or something) - is there anything like that in the market.
There is no such animal. The best you are going to do is through costco (elavon) where they waive the monthly and statement fees if you are executive member and regular visa rates are 1.5%. But you have to either rent or what I did was purchase the terminal.
Sr. Member
User avatar
Aug 12, 2003
970 posts
178 upvotes
Hamilton
IEpicDestroyer wrote:
Feb 13th, 2019 2:31 am
What still confuses me about it is that it can take chip credit cards but no chip debit cards, I understand it's probably a technology limitation of the PIN pad or something (like venting machines?) but would be nice that it'll be resolved.
Someone made that comment on their instagram promo and they responded saying it was a limitation due to canadian laws.
Deal Addict
Jun 20, 2006
2131 posts
393 upvotes
Lord Denning wrote:
Feb 12th, 2019 11:41 pm
I get paid infrequently but in large amounts (usually around $5-9k) never more than 20 transactions in a year - any suggestions on a reasonable service for low volume large sales?

Right now I make clients pay using cheques but I keep getting requests for credit cards. I don't mind some fees but paying hundreds on every individual transaction is not the most appealing.
2.65% is kinda low
Amex will charge you more than that with a POS and take longer to pay you
it's avg for visa
MC sometimes gives you lower rate if you hit a quota and work a good deal with them
that's why costco swapped from Amex to Rogers, they pay quicker and charge less !
For sale threads:
GCs / Coins
Cloth / Phones/
Sr. Member
Aug 17, 2003
882 posts
184 upvotes
Toronto
So the long and the short is there is no one willing to process Cc payments for a fixed fee? I would be willing to pay up to $50 per transaction.
Deal Addict
Feb 19, 2009
1136 posts
259 upvotes
Burlington
spektakle wrote:
Feb 13th, 2019 1:08 pm
There is no such animal. The best you are going to do is through costco (elavon) where they waive the monthly and statement fees if you are executive member and regular visa rates are 1.5%. But you have to either rent or what I did was purchase the terminal.
There's no way you're only paying 1.5% on your credit card transactions.
Newbie
Nov 7, 2011
32 posts
25 upvotes
Sackville, New Bruns…
just putting this out there Moneris has the same thing but they also offer a mobile pinpad for 20$ a month gives you unlimited debit transactions. Yes there's a fee but it allows you to process debit transactions for over 100$.
but if you want to only take swipe credit there's no monthly fee

https://www.moneris.com/en/Products-Ser ... ablet/PAYD
Deal Addict
Mar 5, 2007
3725 posts
3262 upvotes
spektakle wrote:
Feb 15th, 2019 2:20 pm
Go read it yourself before you call me a liar.

https://www.costcopaymentprocessing.ca/index.html
Not calling you a liar, but you were VERY selective with your statement:

From: https://www.costcopaymentprocessing.ca/ ... nsite.html
1.50%*
*Qualified rate is 1.50%; Reward card rate is 1.99%; Non-qualified rate is 2.07%, Premium card rate is 2.07%; Super Premium and Key entered rate is 2.90% for retail accounts. Internet and mail order/telephone order priced separately. A minimum monthly charge of $10 applies. Rates listed are for qualified transactions funded in Canadian Dollars and the offer may end without notice. Card Network Assessments apply in addition to the qualified rate. Optional rates available for U.S. dollar transactions can be requested at the time of application, and may change without notice. Other conditions may apply. For more information please call 1-866-325-3281.

So ya, you'll only pay 1.5%, but that's only if you customer uses a certain card. The VAST MAJORITY of customers use at least a reward or premium card (putting you in the 2% area), and a good number use super premium.

So, what you'll pay depends on what your customers are using. There is NO WAY you can count on staying at 1.5%, and the 2.65% number mentioned before is probably closer to what you'll see.
Sr. Member
User avatar
Jan 19, 2007
648 posts
98 upvotes
greenshadow3 wrote:
Feb 15th, 2019 2:39 pm
just putting this out there Moneris has the same thing but they also offer a mobile pinpad for 20$ a month gives you unlimited debit transactions. Yes there's a fee but it allows you to process debit transactions for over 100$.
but if you want to only take swipe credit there's no monthly fee

https://www.moneris.com/en/Products-Ser ... ablet/PAYD
Processed with them in the past and had a really bad experience with their customer service. Would not recommend personally.
Deal Addict
Nov 14, 2006
1727 posts
736 upvotes
GTA
greenshadow3 wrote:
Feb 15th, 2019 2:39 pm
just putting this out there Moneris has the same thing but they also offer a mobile pinpad for 20$ a month gives you unlimited debit transactions. Yes there's a fee but it allows you to process debit transactions for over 100$.
but if you want to only take swipe credit there's no monthly fee

https://www.moneris.com/en/Products-Ser ... ablet/PAYD
So if you want to take debit transactions of over $100 you need to pay a $20 monthly fee ? It's free if it's less than $100?
Deal Addict
Feb 19, 2009
1136 posts
259 upvotes
Burlington
spektakle wrote:
Feb 15th, 2019 2:20 pm
Go read it yourself before you call me a liar.

https://www.costcopaymentprocessing.ca/index.html
I have read it - That's how I know you're paying more than 1.5%.

Maybe you should practice what you preach and read it for yourself. All of it. Not just the first line! Here's a tip, if you see an advertised rate of 1.5%*, that * is a dead giveaway that you're getting ripped off in the fine print.

I challenge you to post a picture of your Elavon monthly statement showing an Effective Merchant Discount Rate (EMDR) of 1.5%. If you can't do that, then be a man and admit you're wrong.
Deal Addict
Feb 19, 2009
1136 posts
259 upvotes
Burlington
repatch wrote:
Feb 15th, 2019 2:46 pm
Not calling you a liar, but you were VERY selective with your statement:

From: https://www.costcopaymentprocessing.ca/ ... nsite.html
1.50%*
*Qualified rate is 1.50%; Reward card rate is 1.99%; Non-qualified rate is 2.07%, Premium card rate is 2.07%; Super Premium and Key entered rate is 2.90% for retail accounts. Internet and mail order/telephone order priced separately. A minimum monthly charge of $10 applies. Rates listed are for qualified transactions funded in Canadian Dollars and the offer may end without notice. Card Network Assessments apply in addition to the qualified rate. Optional rates available for U.S. dollar transactions can be requested at the time of application, and may change without notice. Other conditions may apply. For more information please call 1-866-325-3281.

So ya, you'll only pay 1.5%, but that's only if you customer uses a certain card. The VAST MAJORITY of customers use at least a reward or premium card (putting you in the 2% area), and a good number use super premium.

So, what you'll pay depends on what your customers are using. There is NO WAY you can count on staying at 1.5%, and the 2.65% number mentioned before is probably closer to what you'll see.
It's worse than that. Even if every single one of his customers paid with a "qualified" card type, he would still have to pay the Visa/MC card brand fee on top of the 1.5% as evidenced by the fine print "Card Network Assessments apply in addition to the qualified rate". Visa card brand fee is 0.08%, so best case scenario you're paying 1.58%, realistically you're paying a lot more than that since roughly 70% of your customers are likely to pay with non-qualified card types.

It's depressing how many people don't really know what they are paying. They don't read the fine print of the contracts they are signing, and they just assume they are always paying the lowest rate when in fact they never are.
Jr. Member
Oct 10, 2012
185 posts
52 upvotes
repatch wrote:
Feb 15th, 2019 2:46 pm
Not calling you a liar, but you were VERY selective with your statement:

From: https://www.costcopaymentprocessing.ca/ ... nsite.html
1.50%*
*Qualified rate is 1.50%; Reward card rate is 1.99%; Non-qualified rate is 2.07%, Premium card rate is 2.07%; Super Premium and Key entered rate is 2.90% for retail accounts. Internet and mail order/telephone order priced separately. A minimum monthly charge of $10 applies. Rates listed are for qualified transactions funded in Canadian Dollars and the offer may end without notice. Card Network Assessments apply in addition to the qualified rate. Optional rates available for U.S. dollar transactions can be requested at the time of application, and may change without notice. Other conditions may apply. For more information please call 1-866-325-3281.

So ya, you'll only pay 1.5%, but that's only if you customer uses a certain card. The VAST MAJORITY of customers use at least a reward or premium card (putting you in the 2% area), and a good number use super premium.

So, what you'll pay depends on what your customers are using. There is NO WAY you can count on staying at 1.5%, and the 2.65% number mentioned before is probably closer to what you'll see.
I did say the best you are going to do on a regular card, I never claimed that every single transaction was 1.5. However I would argue that "vast majority" are charged at 2% area and probably closer to 2.65% is not accurate and more of an opinion. It depends on how the card is classified and just because they are collecting pc points or whatever does not make it a premium card.

You can look at this and it will show an example that the majority of personal cards in Canada are classified as regular:

https://www.cfib-fcei.ca/sites/default/ ... f/5513.pdf

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