Key takeaways
- 2.5% in person on all credit cards, including international.
- 0.75% + 7¢ per Interac debit payment.
- 2.8% + 30¢ online and on invoices; 3.3% + 15¢ keyed-in.
- Free point-of-sale app and no monthly fee on the free plan.
What Square charges in Canada
| Payment type | Fee |
|---|---|
| In-person credit (Visa, Mastercard, Amex, international) | 2.5% |
| Interac debit (tap or insert) | 0.75% + 7¢ |
| Online store, online checkout and invoices | 2.8% + 30¢ |
| Keyed-in or card on file | 3.3% + 15¢ |
Square lowered its Canadian credit card fees in October 2024, following an agreement between the Government of Canada, Visa and Mastercard to reduce card fees for small businesses.
What you get
- A free point-of-sale app, online store and invoicing.
- One flat rate for every credit card in person, including American Express and cards issued abroad.
- Fraud prevention and dispute management included.
Who it suits
- Good fit: cafés, shops, salons and service businesses taking cards in person, and small businesses that want simple, predictable fees.
- Look elsewhere: higher-volume businesses that could save with interchange-plus pricing, and SaaS companies needing advanced subscription billing.
The bottom line
Square is hard to beat for simplicity: no monthly fee, a free point of sale and one in-person rate for every credit card. As volume grows, compare it with interchange-plus providers, which can cost less on debit and standard cards.
A worked example
A café takes about C$20,000 a month in card payments: C$12,000 on Interac debit across roughly 800 purchases, and C$8,000 on credit cards.
| Payment type | Monthly cost with Square |
|---|---|
| Interac debit (0.75% + 7¢ × 800) | About C$146 |
| Credit cards (2.5%) | About C$200 |
| Total | About C$346, or 1.7% |
Because debit is so much cheaper, the share of customers paying by debit has a big effect on what you pay overall.
What to watch for
- Keyed-in payments cost 3.3% + 15¢, so use the card reader whenever the customer is present.
- Buy-now-pay-later payments cost more than cards.
- As volume grows, compare Square with interchange-plus providers.
Providers that can help
Simple flat rates and a free point of sale
Interchange-plus pricing with no monthly fee
Strong online and subscription tools
FAQs
What are Square’s fees in Canada?
2.5% for in-person credit card payments, 0.75% + 7¢ for Interac debit, 2.8% + 30¢ for online and invoice payments, and 3.3% + 15¢ for keyed-in payments.
Does Square have a monthly fee in Canada?
Not on its free plan; you pay per transaction. Paid plans add more features.
Does Square charge more for international cards?
For in-person credit card payments, international cards cost the same 2.5% as Canadian cards.
How fast does Square pay out in Canada?
Standard transfers arrive by the next business day, and faster options are available for a fee.
Is Square cheaper than Helcim or Moneris?
It depends on your volume and card mix. Square is simple with no monthly fee; interchange-plus providers such as Helcim often cost less as volume grows, while Moneris prices by quote.
Sources: Square Canada published fees and press release (October 2024).