Square is the easiest processor to sign up for in Canada. Past $15K a month, it's one of the most expensive ways to take cards. The math doesn't reward simplicity at scale.

Manual entry runs 3.3% + 15¢.

Phone orders, saved cards, recurring billing, and virtual-terminal charges are all keyed transactions, and they bill at 3.3% + 15¢^[4] on every Square plan. For service businesses with a high share of phone orders, saved cards, or virtual-terminal charges, this rate sets the average you pay, not the in-person 2.5%^[1].

International cards add 1.5%.

Square applies a 1.5%^[3] fee to cards issued outside Canada. If you serve tourists in person or sell online across the border, those transactions cost 1.5% more than the headline.

The hardware is Square-only.

Square Reader and Square Register work only with Square. The terminal you already bought is a real switching cost.

Retail Plus is $79 a month for a $14 discount.

Retail Plus discounts the in-person credit rate from 2.5% to 2.45%^[5]on contactless and chip-and-PIN. The discount applies to credit only; Interac debit stays at 0.75% + 7¢^[2]. For the $40,000-a-month merchant from the section above (70/30 credit/debit mix, $28,000 in monthly credit volume), 5 basis points saves $14 a month against a $79 subscription. Net cost: $65 a month. Break-even sits at about $158,000 in monthly credit volume per location, where the 5-basis-point discount finally matches the $79 subscription.

Custom pricing kicks in at $250,000^[6] a year. Above that threshold Square may grant a custom rate when you contact sales. Below it, you're on the published flat rate regardless of how well you negotiate. Most Canadian SMBs never see the custom rate because they never cross the line.

What happens to my Square hardware if I switch?

Square Reader and Square Register work only with Square, so those would need replacing. Square Terminal and Square Stand have more flexibility. We tell you exactly which of your hardware carries over before you commit, and the 90-day Profit Guarantee covers up to $1,000 of any switch-out cost.

What is Square's 1.5% international card fee?

Square applies a 1.5% fee on cards issued outside Canada. It applies on top of the standard rate, so a merchant serving tourists in person or selling across the border pays 1.5% more on those transactions.

Why is my effective Square rate higher than 2.5%?

2.5% is the in-person credit rate. Keyed transactions, phone orders, saved cards, and recurring billing bill at 3.3% + 15 cents on every Square plan. Online transactions are 2.8% + 30 cents. Interac debit is 0.75% + 7 cents. Your blended rate is the weighted average across every channel you use, and it's almost always higher than the 2.5% headline.

Does the Square Retail Plus subscription save me money on processing?

Probably not. Retail Plus is $79 a month per location and lowers your in-person credit rate from 2.5% to 2.45% on contactless and chip-and-PIN. The 5 basis point discount applies to credit only; Interac debit stays at 0.75% + 7 cents. Break-even sits at about $158,000 in monthly credit volume per location. Below that, the subscription costs more than the discount saves. Most Canadian SMBs are below it.

What if I want to stay on Square?

Then stay, and we will tell you so plainly. If you process under about $15K a month, if you are brand new, or if you genuinely run on the full Square stack, Square is a reasonable choice. Payzium only makes sense once the math is genuinely on your side. We would rather you stay than switch to numbers that do not help.

What does the 90-day Profit Guarantee cover if I am coming from Square?

Two things. It covers up to $1,000 of your switch-out cost, which for a Square merchant usually means hardware. And if Payzium has not lowered your processing cost within the first 90 days, we refund our margin in full. The guarantee runs for the first 90 days and is not rolling.

How do I get a custom rate from Square?

Square may offer a custom rate to merchants processing $250,000 or more in annual credit card sales (excluding Interac debit) when they contact sales. Below that threshold you're on the published flat rate. Most Canadian SMBs never qualify and never see what Square's custom pricing looks like. That doesn't make Square dishonest about it. It does mean the published rate is the rate for the merchants this page is written for.