Paystone vs Moneris (Canada)

Overview

We compare the two for a Canadian small business paid in Canadian dollars, using each company's published prices and merchant terms as of 23 October 2026, with in-person and online figures kept separate. The two price differently. Paystone prices on interchange-plus (it publishes no flat-rate plan) and publishes 'as low as' starting rates: in-person credit from 1.26% + 5¢, Interac debit from 5¢, and online credit from 2.27% + 25¢ on its pricing page. Moneris publishes a flat rate of 2.65% + $0.10 in person and 2.85% + $0.30 online, with Interac at $0.12 in person and $1.00 online, and offers interchange-plus (Simplified Pricing) by quote. Neither number on one side is the same kind of number as on the other, so we set them side by side without declaring a winner. The contracts are closer than the marketing suggests. Paystone's pricing page said 'No locked-in contracts' and 'No cancellation fees' as late as April 2026, but its published Pay Terms set a three-year initial term that renews for six months at a time and a $295 early termination fee per unit of equipment, and those claims are gone from the page now. Moneris's April 2026 merchant agreement also runs three years with six-month renewals, and charges $300 per location when the agreement ends. Paystone rents every listed terminal at $45 a month; Moneris rents the Go Terminal at $34.95. Both companies are changing hands. Paystone has been under creditor protection (CCAA) since 5 June 2026, and a court-approved sale of its business to a company controlled by its principals had not closed by 16 October. RBC and BMO agreed on 10 August 2026 to sell Moneris to Francisco Partners for about C$2.0 billion, with closing expected by the end of January 2027.

Key Takeaways

• ✓It depends on what you need. Moneris publishes a flat price, rents its terminal for less and pays next day into an RBC or BMO account. Paystone publishes lower interchange-plus starting rates and bundles its own gift, loyalty and review software, but it is in creditor protection while a sale to a company controlled by its principals closes.
• ✓The rates are not like for like. Paystone's figures are interchange-plus floors (in-person credit from 1.26% + 5¢, Interac from 5¢, online from 2.27% + 25¢); your actual markup is set in a quote. Moneris's flat rate is what you pay on every card: 2.65% + $0.10 in person, 2.85% + $0.30 online, Interac $0.12 in person and $1.00 online.
• ✓Both published contracts run three years and renew automatically for six months at a time. To leave at the end of a term you must give 90 days' notice to Paystone or 45 days' notice to Moneris. Paystone charges $295 per unit of equipment to terminate early; Moneris charges a $300 deactivation fee per location when the agreement ends. After a fee increase you can leave Paystone without its fee within 90 days of being notified, and Moneris 'without penalty' within 70 days of the change, though Moneris's terms do not say whether the $300 deactivation fee still applies.
• ✓Terminal rental costs $45 a month for every model on Paystone's terminal page, against $34.95 for the Moneris Go Terminal and $39.95 for the Go Slim. Over a three-year term, one terminal comes to about $1,620 at Paystone and $1,258 at Moneris before tax.
• ✓Ownership is in flux on both sides. Paystone Inc. entered CCAA on 5 June 2026; the court approved a sale of its business to 1001632600 Ontario Inc., controlled by Paystone's principals, Tarique Al-Ansari and chief financial officer Abdullah Saab, on 27 August, and the closing deadline has been extended to 13 November 2026. Moneris's sale by RBC and BMO to Francisco Partners is signed but not closed and still needs regulatory approval.