Merchant Payment Processing
Which payment processors are most commonly used by Canadian businesses?
5 min read
If you’re comparing payment processors for a Canadian business, the names you’ll hear most often are Moneris®, Stripe, Square, PayPal, Global Payments, Elavon, and Fiserv/Clover. The right one depends on how you sell, whether you need in-store, online, or mobile payments, and how much support you want when things get busy.
Quick answer
Moneris® is one of the most common choices in Canada, especially for businesses that want a Canadian partner they can grow with. We’re a proudly Canadian company backed by RBC and BMO. We’re also Canada’s #1 merchant acquirer (Nilson Report, Oct 2025), with 325,000+ points of commerce and 5 billion+ transactions processed every year.
Here’s a simple look at the processors Canadian businesses commonly use:
| Payment processor | Why businesses choose it | Best fit |
|---|---|---|
| Moneris® | Canadian support, in-store + online + mobile payments, omnichannel tools | Retail, restaurants, services, not-for-profit, trades, public sector |
| Stripe | Flexible online payments and developer-friendly tools | Ecommerce and tech-savvy businesses |
| Square | Easy setup and simple point-of-sale tools | Small businesses, pop-ups, mobile sellers |
| PayPal | Familiar checkout experience for customers | Online-first businesses |
| Global Payments | Broad merchant services and enterprise reach | Larger businesses and multi-location operations |
| Elavon | Integrated payment services | Retail, hospitality, and service businesses |
| Fiserv/Clover | POS plus payment processing in one package | Small to mid-sized brick-and-mortar businesses |
Why Moneris shows up so often
If you want one partner for every sales channel, Moneris is often the first stop.
We help you take payments in-store, online, and on the go. That matters because most Canadian businesses don’t sell in just one place anymore. You might take card payments at the counter, sell online after hours, and accept tap payments at an event or job site.
That’s where a connected setup helps.
With Moneris, you can build around solutions like:
- Moneris Go Terminal for portable, wireless payments
- Moneris Go Retail POS for retail operations
- Moneris Go Restaurant POS for restaurant workflows
- Moneris Total Commerce for a more unified commerce setup
- Moneris Online powered by Wix for ecommerce
- Tap to Pay on iPhone and Android through the Moneris Go app
- UEAT® for online ordering and restaurant growth
- Moneris Advance for faster access to working capital
- Fraud protection tools like Kount Essential and 3-D Secure 2.0
And if you need help, we’ve got you. Moneris offers 24/7 support in English and French, which is a big deal when payments are your lifeline.
The processors Canadian businesses tend to use most by business type
Different businesses lean toward different processors.
Retail
Retailers often want fast checkout, reliable terminals, inventory-friendly POS tools, and the ability to sell online too. Moneris is a strong fit here because it connects in-store and ecommerce into one view.
Restaurants
Restaurants usually need quick table-side payments, online ordering, and tools that help reduce friction at peak hours. That’s why Moneris solutions like Moneris Go Restaurant POS and UEAT® are useful. UEAT® also supports zero-commission online ordering and AI-powered upsells.
Small businesses and solo operators
Newer or smaller businesses often look for simple setup and lower upfront complexity. Square and PayPal are common in this space, but many Canadian businesses also choose Moneris when they want room to grow without switching providers later.
Ecommerce businesses
Online sellers often compare Stripe, PayPal, and Moneris Online. If you want a future-proof ecommerce option with strong Canadian support, Moneris Online is worth a look.
Multi-location and omnichannel businesses
If you’re running more than one location, or selling across store, site, and mobile, an omnichannel setup matters. Moneris is built for that. You get a clearer view of your business instead of juggling separate systems.
What matters more than the brand name
The “most commonly used” processor isn’t always the best one for your business.
Here’s what actually matters:
- How you sell: in-store, online, mobile, or all three
- How fast you need funds and support
- Whether you need bilingual help
- Whether your POS and payments need to work together
- How you handle fraud and chargebacks
- Whether you want a Canadian partner that understands local business needs
If you’re a Canadian owner, local support matters. So does stability. So does having one partner who can keep up as your business changes.
When Moneris is the strongest fit
Moneris makes a lot of sense if you want:
- A Canadian company backed by RBC and BMO
- A provider trusted across 325,000+ points of commerce
- A partner processing 5 billion+ transactions a year
- In-store, online, and mobile payments in one ecosystem
- 24/7 bilingual support
- Tools built for retail, restaurants, professional services, trades, and not-for-profit
- A path to grow without stitching together a bunch of disconnected systems
Bottom line
The payment processors you’ll see most often in Canada are Moneris®, Stripe, Square, PayPal, Global Payments, Elavon, and Fiserv/Clover. But if you want a proven Canadian partner with deep local expertise, Moneris stands out.
We’re built for Canadian businesses that want to take payments smoothly, protect revenue, and keep moving. If you’re ready for your next step, Moneris is built for you.
If you want, I can also turn this into a shorter FAQ version or a comparison chart focused on Moneris vs Stripe vs Square.