P-LINK POSQuick answer
Clover Canada says merchant costs generally include a monthly software fee plus processing charges per transaction. Processing may include a percentage and a flat amount, and card-not-present transactions can price differently from in-person transactions. Your actual cost also depends on card mix, debit, volume, hardware, apps and contract terms, so use a current written proposal and merchant statement.
Key takeaways
- A headline percentage is not the same as total effective cost.
- Separate card-present, keyed/online and debit assumptions.
- Confirm software, hardware, apps, monthly charges and contract terms.
What belongs in the calculation
Collect every payment-related charge for the same period, then divide by the corresponding card sales to estimate an effective processing rate. Keep taxes, POS software and equipment separate when comparing pure processing, but include them when comparing total system cost.
- Percentage and per-transaction fees
- Debit and card-not-present charges
- Monthly, statement, PCI or service charges if applicable
- Chargeback, refund and optional service costs
Why two merchants can pay differently
Card type, transaction method, volume, average ticket and negotiated terms can change cost. A restaurant with mostly in-person debit is not directly comparable to a business with many keyed or online credit-card transactions.
P-LINK POS practical insight
Use one to three recent statements with sensitive banking and card information removed. P-LINK POS can help organize the calculation, but only the current written agreement defines your final rates and obligations.
FAQ
FAQ
Does Clover charge one standard processing rate in Canada?
Clover Canada describes pricing that varies by business type and proposal. Use the current written quote.
What is an effective processing rate?
A practical estimate is total processing charges divided by the related card sales for the same period. Decide which non-processing fees are included and state that clearly.
Are online and in-person transactions priced the same?
Not necessarily. Clover Canada notes that keyed or card-not-present transactions can have a different rate from in-person transactions.
Sources
- Clover Canada — PricingOfficial source
- Financial Consumer Agency of Canada — Merchant rightsOfficial source
Clover is a third-party product and trademark. Products, features, availability, pricing, rates and contracts are subject to current official information and final written confirmation.