Helcim is a payment processor that charges every Canadian merchant interchange plus a published markup, with no monthly fee and no contract. For most small businesses with steady in-person card and Interac volume, it has the lowest published processing cost we have found, and your statement varies with your customers' card mix rather than showing one flat percentage.
This review covers what Helcim costs in Canada, how its volume tiers work, what the hardware costs, how fast you get paid, and which of its free tools (POS, invoicing, recurring billing, online store, bank payments) are worth using. If you are still choosing between processors, read our Square vs Moneris vs Helcim fee comparison alongside this.
How we evaluated
This review is research-based: we did not open a Helcim account or process payments with it. We read Helcim's pricing page, its Canadian fee disclosure (last updated February 2, 2026), its product pages, and its help centre documentation, and we checked Canadian surcharging rules against the Financial Consumer Agency of Canada (FCAC). All prices are in Canadian dollars and were checked in September 2026.
We judged Helcim on the things that drive a Canadian owner's real cost: the markup on credit, the flat Interac fee, hardware, fees outside processing (chargebacks, cancellation, recurring billing), deposit timing, and whether the free software replaces tools you would otherwise pay for.
Pricing in Canada
Helcim charges interchange plus a fixed markup, and the markup drops automatically as your volume grows. Your tier is set by a 3-month rolling average of all your card volume, so you do not have to negotiate for the lower rate.
| Feature | In-person markup | Online and keyed markup | Interac chip / tap |
|---|---|---|---|
| $0 to $50,000 | 0.40% + 8¢ | 0.50% + 25¢ | 9¢ / 12.5¢ |
| $50,001 to $100,000 | 0.35% + 7¢ | 0.45% + 20¢ | 8¢ / 11.5¢ |
| $100,001 to $500,000 | 0.25% + 7¢ | 0.35% + 20¢ | 8¢ / 11.5¢ |
| $500,001 to $1,000,000 | 0.20% + 6¢ | 0.25% + 15¢ | 7¢ / 10.5¢ |
| Over $1,000,000 | 0.15% + 6¢ | 0.15% + 15¢ | 7¢ / 10.5¢ |
The markup is only part of your credit card cost. Interchange (paid to the card issuer) and card network fees are passed through at cost and vary by card type, so a premium rewards or business card costs you more than a basic card. Interac is different: it is a flat fee per transaction with no interchange added on top. Helcim's pricing page rounds the first-tier tap fee to 12¢; the fee disclosure lists 12.5¢, and we use the disclosure figure.
Other fees worth knowing, all from Helcim's pricing page and Canadian fee disclosure:
- Monthly, setup, PCI, and cancellation fees: none. The disclosure states there are no penalties for termination, though you still owe fees and chargebacks on transactions already processed.
- Chargebacks: $15 per occurrence.
- Recurring payments: an extra 0.4% on each transaction run through Helcim's recurring billing tool.
- EFT/PAD bank payments: 0.5% + 25¢, capped at $6 for payments under $25,000, with a $5 fee for each payment rejected or returned by the bank.
- International cards: card networks add their own fees when the card was issued outside Canada. The disclosure lists Visa and Mastercard international fees of 0.68% on CAD transactions.
- Level 2/3 optimization: on corporate and commercial cards, Helcim keeps 30% of the interchange savings it generates.
- Statements: electronic statements at no charge.
What does Helcim cost per month? A worked example
On a sample mix of $30,000 a month, Helcim's markup comes to $141.00, and you pay interchange on the credit sales on top of that. Here is the math using only Helcim's published first-tier rates.
Assumptions:
- $18,000 of in-person credit across 300 sales ($60 average)
- $8,000 of Interac debit across 160 sales ($50 average), all tapped
- $4,000 of online invoice payments by credit card across 20 payments ($200 average)
- First volume tier, no recurring billing, no chargebacks, no hardware
| Feature | Calculation | Helcim charge |
|---|---|---|
| In-person credit, percentage | 0.40% × $18,000 | $72.00 |
| In-person credit, per sale | 300 × 8¢ | $24.00 |
| Interac tap | 160 × 12.5¢ | $20.00 |
| Online credit, percentage | 0.50% × $4,000 | $20.00 |
| Online credit, per payment | 20 × 25¢ | $5.00 |
| Total Helcim markup | $141.00 plus interchange |
Interchange is the part we cannot put a single number on, because it depends on which cards your customers carry and how they pay. For scale only: the federal agreement targets an annual weighted average interchange of 0.95% for in-store credit at qualifying small businesses. If your in-person credit interchange averaged exactly 0.95%, that would add $171.00 on the $18,000. Online interchange is higher than in-store, and premium and business cards cost more, so treat that figure as an illustration, not a quote.
Two ways to lower the bill in this example:
- Move invoice payments to EFT. If those 20 invoices of $200 were paid by bank transfer instead, each would cost 0.5% × $200 + 25¢ = $1.25, or $25.00 in total, with no interchange added. On a single $3,000 invoice, the EFT fee hits the $6 cap.
- Encourage Interac. The Interac line is flat per sale, so a $50 tap costs the same 12.5¢ as a $500 tap.
How does Helcim handle Amex, Interac, and foreign cards?
Helcim accepts Amex through Amex's OptBlue program on the same interchange-plus basis, and Interac as a flat per-transaction fee. For Amex, the wholesale rate is set by American Express and varies by industry, transaction size, and how the card is entered. Helcim's Canadian OptBlue page also lists an acquirer network fee of 0.03% + 3¢ on Amex transactions, plus Amex's own network assessments.
Interac has three published rates per tier: chip and PIN, tap, and a separate quick-service tap rate (11¢ on the first tier). The disclosure does not define which merchants get the quick-service rate, so ask Helcim whether your business qualifies.
Cards issued outside Canada carry extra card network fees, which matters if you serve tourists or bill US clients.
How fast does Helcim pay you?
Most Canadian merchants can get card sales the next business day at no charge. Helcim's help centre sets three conditions for its Faster Deposits: your bank account must accept Interac e-Transfer deposits, the batch must be $25,000 or less, and you must close the batch by 7:00 PM Mountain Time (9:00 PM Eastern).
Batches over $25,000, or accounts that do not meet the conditions, are generally funded within 1 to 2 business days after settlement. New merchants should expect about 3 business days for their first few card batches while Helcim reviews the account. EFT/PAD bank payments take longer: typically 3 to 5 business days after settlement, and about 5 business days for a new customer's first payment.
Hardware: card reader and Smart Terminal
Helcim sells its hardware outright, with no rental. The Helcim Card Reader costs $239 plus tax and pairs with the Helcim app on a phone, tablet, or computer. The Helcim Smart Terminal is a standalone device that costs $429, and optional 4G mobile data for it costs $9 a month. The pricing page lists shipping as extra.
That is more upfront than the cheapest readers from flat-rate processors, but there is no monthly rental to pay back over the life of the device. See our POS system comparison if you need a full retail or restaurant setup.
What software comes free with Helcim?
Helcim's software tools have no monthly fee; you pay only processing on what goes through them. According to its product pages, the lineup includes:
- Point of sale: apps for iOS, Android, Windows, and Mac, with inventory tracking and low-stock alerts, saved customer profiles, split payments, refunds, and preset tip percentages. Helcim's POS page does not describe restaurant features such as table or kitchen management.
- Invoicing: unlimited invoices and staff, card and bank payments from the invoice, partial payments and deposits, automated reminders, and recurring invoices. For a full comparison of invoicing tools, see our invoicing software review.
- Recurring payments: subscriptions on monthly, yearly, or custom schedules, with trial periods, one-time setup fees, and automatic retries of failed payments. This is the one tool with its own fee: 0.4% per recurring transaction on top of normal processing.
- Online store and checkout: a free, hosted online store, plus payment links and an embeddable checkout for your own website. Helcim also lists a WooCommerce integration. Our guide to starting an online store in Canada covers the platform side.
- Virtual terminal and customer vault: key in phone orders and save cards for repeat billing.
- EFT/PAD: one-time and recurring bank payments from Canadian chequing or savings accounts.
QuickBooks Online and Xero
Helcim connects to both of the main accounting platforms Canadian bookkeepers use. For QuickBooks Online, it offers a direct integration (Pay Now buttons on emailed invoices, Auto-Collect of saved cards or bank accounts, and automatic transaction syncing) and a separate payment extension for taking card-present or phone payments while working in QuickBooks. For Xero, it adds a Pay Now button to invoices, supports Auto-Collect on the due date, and logs payments, fees, and deposits in a Helcim clearing account for reconciliation. Helcim's Xero page lists no setup, monthly, or integration fee. Not sure which accounting platform fits? See Xero vs QuickBooks in Canada.
Can you surcharge credit cards with Helcim in Canada?
Yes, outside Quebec. Helcim's surcharging feature, called Fee Saver, adds a fee to the customer's total only when they pay by credit card. For in-person payments on the Smart Terminal or Card Reader, the customer pays 2.40%, and Helcim's documentation states that in-person debit cannot be surcharged. In-person Fee Saver is not available in Quebec.
The FCAC's merchant guidance sets out the Canadian rules: surcharges apply to credit card transactions (not in Quebec), the maximum surcharge cap is 2.4%, you must give your processor and/or card network advance written notice before you start, and you must clearly disclose the surcharge before the transaction is completed. This is general information, not legal advice; if you are unsure whether surcharging fits your business or province, check with your accountant or a lawyer before you turn it on.
What we like and what to know
Helcim's strengths are published, automatic pricing and a lack of fixed fees. Keep in mind that statements vary with card mix, and a few tools carry their own charges.
Helcim
Strengths
- Interchange-plus pricing with published markups on every tier
- Volume discounts applied automatically from a 3-month rolling average
- Interac at 9¢ chip and 12.5¢ tap on the first tier
- No monthly, setup, PCI, or cancellation fees
- Free next business day deposits for batches up to $25,000
- EFT/PAD bank payments capped at $6 under $25,000
- Free POS, invoicing, online store, and QuickBooks and Xero integrations
Good to know
- Total credit cost varies with your customers' card mix
- Card reader is $239, bought outright with no rental
- Recurring billing adds 0.4% per transaction
- Online and keyed markup of 0.50% + 25¢ on the first tier
- Tap to Pay on iPhone is for US merchants; in Canada you use a reader
- POS page does not describe restaurant table or kitchen features
Helcim
Who Helcim is for (and when to look elsewhere)
Helcim fits businesses with steady card volume that want the lowest published cost and no contract. That includes retail shops, service businesses, clinics, and trades that take a mix of in-person Interac, credit, and invoice payments.
Helcim is a good fit if you:
- Take a meaningful share of Interac debit, especially on larger tickets, since the fee stays flat per sale
- Invoice clients and want a cheap bank payment option (the $6 EFT cap)
- Want no monthly fees and the ability to leave without a penalty
- Use QuickBooks Online or Xero and want payments to reconcile automatically
Consider something else if you:
- Want one predictable flat rate on every statement and are willing to pay more for it
- Run a full-service restaurant and need table management and kitchen tickets from your POS
- Want to take cards on your phone with no reader
- Bill mostly on subscriptions, where the extra 0.4% recurring fee applies to every charge
Alternatives
The closest alternatives are Square (flat rates and a free POS) and Moneris (bank-linked with RBC and BMO). Our Square vs Moneris vs Helcim comparison puts all three side by side with a worked example. If you need a full point-of-sale system rather than just processing, see our best POS systems in Canada review. If you sell online first, Shopify vs WooCommerce in Canada covers which payment options each platform supports. And if you are setting up a new business bank account to receive deposits, check that it supports Interac e-Transfer deposits for Helcim's next-day funding; our business bank account review compares the main options.
Our verdict
4.5Helcim is the processor we would shortlist first for most Canadian small businesses with steady in-person sales: interchange plus 0.40% + 8¢ on the first tier, Interac from 9¢, automatic volume discounts, free next business day deposits, and no monthly or cancellation fees. Service businesses that invoice clients also get a $6 cap on EFT payments and free QuickBooks and Xero integrations. Pick a flat-rate processor instead if you want one predictable number on every statement, and look at a dedicated POS if you run a full-service restaurant.
Frequently asked questions
How much does Helcim charge in Canada?
On its first volume tier ($0 to $50,000), Helcim charges interchange plus 0.40% + 8¢ for in-person card sales and interchange plus 0.50% + 25¢ for online and keyed sales. Interac debit is 9¢ for chip and PIN and 12.5¢ for tap, and there is no monthly fee.
Does Helcim have a monthly fee or contract?
No. Helcim's pricing page lists no monthly account fee, no setup fee, no PCI fee, and no cancellation fee, and its Canadian fee disclosure states there are no penalties for termination.
How fast does Helcim deposit money in Canada?
Helcim offers next business day deposits at no extra cost for card batches up to $25,000 closed by 7:00 PM Mountain Time, if your bank account supports Interac e-Transfer deposits. Otherwise, card batches generally arrive in 1 to 2 business days, and new merchants' first batches can take about 3 business days.
Can I add a credit card surcharge with Helcim in Canada?
Helcim offers a surcharging feature called Fee Saver, which charges in-person credit card customers 2.40% and never applies to in-person debit. The in-person version is not available in Quebec, where the FCAC notes merchants cannot surcharge credit cards.
Does Helcim work with QuickBooks Online and Xero?
Yes. Helcim documents a QuickBooks Online direct integration and payment extension, and a Xero integration that adds a Pay Now button to invoices, supports Auto-Collect, and logs payments and fees in a Helcim clearing account.
Sources
- Helcim: pricing (checked September 2026)
- Helcim: Canadian fee disclosures (checked September 2026)
- Helcim: American Express OptBlue rates in Canada (checked September 2026)
- Helcim Learn: how long does funding take (checked September 2026)
- Helcim: EFT/PAD payments (checked September 2026)
- Helcim: point of sale (checked September 2026)
- Helcim: online invoicing (checked September 2026)
- Helcim: recurring payments (checked September 2026)
- Helcim: online checkout (checked September 2026)
- Helcim: Tap to Pay on iPhone (checked September 2026)
- Helcim Learn: integrate with QuickBooks Online (checked September 2026)
- Helcim: Xero integration (checked September 2026)
- Helcim Learn: what is Helcim Fee Saver (checked September 2026)
- FCAC: Merchant surcharges, service and convenience fees, and discounts (checked September 2026)
- Department of Finance Canada: Government reduces credit card fees by 27 per cent for small business owners (checked September 2026)