You're running an online store in Canada and every transaction eats into your margins. Stripe makes it easy to get started, Moneris promises better rates for established businesses, and you're stuck wondering which one actually costs less.
Here's the straight answer: it depends on your sales volume, average transaction size, and how much you value simplicity versus savings. But the advertised rates are just the starting point.
The Real Cost of Card-Not-Present Transactions
E-commerce transactions carry higher fees than in-person payments because card networks consider them riskier. When a customer types their card number into your website instead of tapping it at your counter, you're paying an extra 20-40 basis points (0.20-0.40%) across all processors.
This isn't negotiable. Visa and Mastercard set these interchange rates, and every processor passes them through. What varies is the markup each processor adds on top.
Understanding Canadian E-commerce Interchange
Card-not-present interchange rates in Canada typically run:
- Visa Consumer Credit: 1.65% + 10¢
- Visa Consumer Debit: 1.55% + 5¢
- Mastercard Consumer Credit: 1.65% + 10¢
- Mastercard Consumer Debit: 1.55% + 5¢
These are the wholesale costs. Everything above this is processor markup, payment gateway fees, and other charges.
Stripe's E-commerce Pricing Reality
Stripe advertises 2.9% + 30¢ for online transactions. Clean, simple, no surprises.
For a $50 online order, you pay:
- Stripe fee: $1.75 (2.9% × $50 + $0.30)
- Your net: $48.25
That 2.9% rate never changes whether you process $1,000 or $100,000 monthly. Stripe bets on simplicity over savings, which works for many smaller e-commerce businesses that don't want to negotiate or track multiple fee structures.
Stripe's Hidden Costs
What Stripe doesn't advertise upfront:
- International cards: 3.4% + 30¢ (extra 50 basis points)
- Currency conversion: 1% additional fee
- Disputes: $15 per chargeback
- Radar fraud protection: 0.1% on analyzed transactions (optional but recommended)
Say your online clothing store processes $20,000 monthly with 15% international customers and an average $65 order size. Your actual effective rate climbs from 2.9% to roughly 3.1% once you factor in international card fees.
Moneris E-commerce: The Rate vs Reality Gap
Moneris markets e-commerce rates starting at 2.65% + 10¢, which looks better than Stripe on paper. But Moneris uses interchange-plus pricing, meaning your actual rate depends on the card type your customer uses.
For that same $50 order:
- Interchange (Visa credit): $0.93 (1.65% × $50 + $0.10)
- Moneris markup: $0.60 (1.2% × $50 + $0.10)
- Total fee: $1.53
- Your net: $48.47
Moneris saves you $0.22 per transaction compared to Stripe's flat rate. Over $20,000 monthly processing, that's roughly $85 in monthly savings.
Moneris E-commerce Add-On Costs
- Gateway fee: $19.95/month
- PCI compliance: $9.95/month
- Statement fee: $9.95/month
- Fraud screening: $0.05-0.10 per transaction
- Chargebacks: $25 per dispute
Those monthly fees add 198 basis points to your effective rate if you're processing $2,000 monthly, but only 20 basis points at $20,000 monthly volume.
Volume Breakpoints: When Each Option Wins
Under $5,000 Monthly
Stripe usually wins. The monthly fees at Moneris or other interchange-plus processors eat up the per-transaction savings. A business processing $3,000 monthly saves maybe $15 on transaction fees with Moneris but pays $40+ in monthly charges.
$5,000-$15,000 Monthly
The math gets closer. Moneris typically saves 15-25 basis points on transaction fees, but monthly charges still matter. Factor in your average transaction size - smaller tickets favor Stripe's fixed 30¢ fee over percentage-based savings.
Above $15,000 Monthly
Moneris and other interchange-plus processors start winning clearly. The monthly fees become negligible, and the per-transaction savings compound. A business processing $50,000 monthly might save $150-200 monthly switching from Stripe to proper interchange-plus pricing.
The Alternative: PaymentsPlus E-commerce Pricing
We use interchange-plus pricing with transparent markups:
- Visa/Mastercard consumer credit: Interchange + 35 basis points + 5¢
- Visa/Mastercard debit: Interchange + 25 basis points + 3¢
- Gateway access: $15/month
- No PCI fees, statement fees, or compliance charges
For that $50 credit card order:
- Interchange: $0.93
- PaymentsPlus markup: $0.23 (0.35% × $50 + $0.05)
- Total fee: $1.16
- Your net: $48.84
That saves you $0.59 compared to Stripe and $0.37 compared to typical Moneris pricing.
Transaction Size Matters More Than You Think
Stripe's 30¢ fixed fee hurts on small orders but helps on large ones. Moneris and PaymentsPlus charge mostly percentages, so the fee scales with order size.
$15 order comparison:
- Stripe: $0.74 (4.9% effective rate)
- Moneris: $0.45 (3.0% effective rate)
- PaymentsPlus: $0.38 (2.5% effective rate)
$200 order comparison:
- Stripe: $6.10 (3.05% effective rate)
- Moneris: $5.73 (2.87% effective rate)
- PaymentsPlus: $4.03 (2.02% effective rate)
If your average order is under $25, Stripe's fixed fees hurt. Above $75, percentage-based pricing wins clearly.
What About Payment Gateway Features?
Stripe dominates on developer tools and integration options. Their API documentation is excellent, they support dozens of payment methods, and subscription billing is built-in.
Moneris provides basic gateway functionality but requires more technical setup. Their checkout experience feels dated compared to Stripe's polished flows.
PaymentsPlus offers modern gateway features with Canadian-focused support. No subscription billing yet, but clean checkout flows and straightforward integration.
Making the Switch: What Actually Happens
Switching payment processors for e-commerce takes 1-3 weeks typically:
- New account approval: 3-5 business days
- Integration testing: 2-7 days depending on complexity
- Go-live coordination: Plan for off-peak hours
The real cost: Developer time. Budget 8-16 hours for a standard WooCommerce or Shopify integration switch. More complex custom setups take longer.
Red Flags to Watch For
Some processors advertise great e-commerce rates but bury extra charges:
- Monthly minimums: Pay $50 even if you process $20
- Early termination fees: $300+ to cancel contracts
- Rate increases: Annual bumps to your markup
- Hidden international fees: Extra charges for non-Canadian cards
- Batch fees: Daily charges for settlement
Read the actual merchant agreement, not just the sales sheet.
The Bottom Line on Canadian E-commerce Fees
Stripe wins on simplicity and smaller volumes under $5,000 monthly. Their 2.9% + 30¢ rate is honest - what you see is what you pay.
Moneris and other interchange-plus processors win on larger volumes where the percentage savings outweigh monthly fees. But watch for add-on charges that inflate your real costs.
PaymentsPlus targets the middle ground: transparent interchange-plus pricing without the monthly fee bloat that traditional processors love.
Your break-even point depends on monthly volume, average transaction size, and how much you value feature richness versus cost savings. But now you know what you're actually paying beyond the advertised rates.
Get a free side-by-side comparison of what you pay now vs PaymentsPlus at paymentsplus.ca/quote