Merchant services

Merchant services cover a wide range of tools and services businesses use to accept and process payments from their customers. Those include hardware like credit card terminals, software like Point of Sale (POS) systems and online payment gateway services.

Beyond processing payments, merchant services also include tools like customer analytics and loyalty programs. So businesses can learn more about their customers’ spending habits, spot trends and improve customer experience.

Merchant services in Canada are designed to help businesses make sales smooth and secure—boosting revenue and improving cash flow.

Merchant service providers (MSPs) offer tools and technology that simplify payment processing for businesses. They make it easier and more secure for businesses to accept and manage payments from customers online and in person.

MSPs help set up merchant accounts for businesses and provide customer support to help with payment-related issues including chargeback management. They establish fee structures, assess risk and ensure security and compliance.

Many MSPs also offer their clients reporting and analytics tools, customer loyalty programs and customized services.

A merchant account is a financial tool that helps businesses accept electronic payments securely and efficiently. Funds from payments are temporarily held in the merchant account before being transferred to the business's main account. Merchant accounts are designed with security features to protect sensitive customer and payment data, which reduces the risk of fraud and data breaches. This makes it convenient and safe for both businesses and customers.

Payment services are consumer-focused and make it safe and convenient for people to make electronic payments and transfers. Merchant services are business-focused and help businesses accept and manage those payments effectively.

Payment services include tools like digital wallets and money transfer apps, which can help businesses accept a range of payment options. Merchant services include a much broader range of tools and services.

When the two are used together, these tools help businesses offer their customers a range of payment options and streamline their financial operations.