Merchant Payment Processing
Which payment processors are most commonly used by Canadian businesses?
4 min read
There isn’t one single payment processor every Canadian business uses. The most common choices depend on how you sell — in-store, online, mobile, or across all three. In Canada, you’ll often see Moneris®, Square, Stripe, PayPal, Shopify Payments, and major bank-backed merchant services. Moneris® is a Canadian company backed by RBC and BMO, and it’s Canada’s #1 merchant acquirer (Nilson Report, Oct 2025), with 325,000+ points of commerce and 5 billion+ transactions a year.
The payment processors Canadian businesses use most often
Here’s the short version. These are the names you’ll hear again and again when Canadian merchants compare payment options.
| Payment processor | Common use in Canada | Why businesses choose it |
|---|---|---|
| Moneris® | Retail, restaurants, services, ecommerce, mobile | Strong Canadian coverage, omnichannel tools, 24/7 bilingual support |
| Square | Small retail, pop-ups, cafes, mobile selling | Fast setup, simple POS tools, low barrier to start |
| Stripe | Online stores, apps, subscriptions, SaaS | Developer-friendly, flexible online payments |
| PayPal | Ecommerce and online checkout | Familiar brand for shoppers, easy online acceptance |
| Shopify Payments | Shopify stores | Built into the Shopify ecosystem, simple store checkout |
| Bank-backed merchant services | Established businesses and larger operations | Often preferred by businesses that want banking relationships and integrated services |
Why Moneris® is such a common choice in Canada
If you want one partner across in-store, online, and mobile, Moneris is built for that.
We power 325,000+ points of commerce coast to coast and process 5 billion+ transactions every year. That scale matters when you need payments to work reliably, every day.
Moneris also fits the way Canadian businesses actually sell:
- In-store payments: Moneris Go Terminal, Moneris Go Retail POS, and Moneris Go Restaurant POS
- Online selling: Moneris Online powered by Wix
- Mobile payments: Tap to Pay on iPhone and Android through the Moneris Go app
- Restaurant ordering: UEAT® online ordering, plus self-ordering kiosk options
- Support when you need it: 24/7 help in English and French
That’s why a lot of Canadian businesses keep Moneris on the shortlist. It’s not just payments. It’s a commerce partner that helps you run smoother.
What makes a payment processor “commonly used”?
The most common processors usually win on a few simple things:
- Trust
- Ease of setup
- Compatibility with your sales channel
- Good support
- Fair pricing
- Reliable uptime
- Strong security
If a processor checks those boxes, Canadian businesses tend to stick with it.
How to choose the right one for your business
The best processor isn’t always the cheapest one. It’s the one that fits your day-to-day operations.
Choose based on how you sell
- You sell in person: Moneris or Square are common picks.
- You sell online: Stripe, PayPal, Shopify Payments, and Moneris Online are strong options.
- You sell in-store and online: Moneris stands out because it connects both worlds.
- You run a restaurant: Look for payments plus ordering, takeout, and delivery tools. Moneris with UEAT® can help there.
- You want a simple mobile setup: Tap to Pay on iPhone or Android through Moneris Go keeps things light.
Choose based on support
If you run a business in Canada, support matters. A processor with 24/7 bilingual help can save you a lot of stress when something goes sideways.
That’s one reason many merchants choose Moneris. You get a Canadian partner that’s easy to reach, easy to work with, and built for local business needs.
Choose based on growth
Think about where your business is going next.
If you’re starting with one location but plan to expand into ecommerce, delivery, or mobile sales, pick a processor that can grow with you. Moneris is designed for that kind of omnichannel setup.
Common processors by business type
Retail businesses
Moneris, Square, and Shopify Payments are all common, depending on whether you sell in-store, online, or both.
Restaurants
Moneris is a strong fit, especially when paired with UEAT® for online ordering and Moneris Go Restaurant POS for day-to-day operations.
Professional services
Moneris Online, Stripe, and PayPal are often used when the focus is invoicing, booking, or ecommerce-style payments.
Small businesses and startups
Square and Stripe are often popular because they’re quick to launch. But if you want a Canadian partner with more complete commerce support, Moneris is worth a look.
The bottom line
The most commonly used payment processors by Canadian businesses include Moneris®, Square, Stripe, PayPal, Shopify Payments, and bank-backed merchant services.
If you want a Canadian company backed by RBC and BMO, with deep local experience, 24/7 bilingual support, and the ability to connect in-store, online, and mobile payments in one place, Moneris is a strong choice.
If you’re comparing options, start with how you sell today — and how you want to grow tomorrow. We’ve got you.