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  1. #1

    PSIgate pricing - Canadian merchants


    I recently contacted psigate to obtain their pricing, and here is their response:
    Thank you for contacting PSiGate. For Canadian merchants wishing to process and settle in both Canadian and US dollars we have a couple plans, that include both merchant accounts and gateway processing.

    The first plan is more of a starter plan and has a setup fee of $199CDN, monthly fee is $39.95CDN and the transaction fee is 0.45 (CDN). Our merchant discount rate (MDR) is 3.95% for this plan.

    The next option is generally for more established merchants or for new merchants that know they have a customer base to begin with. This plan has a setup fee of $299CDN, monthly fee is $54.95CDN and the transaction fee is 0.29 (CDN). Our merchant discount rate (MDR) is 3.49% for this plan.

    For both of these plans, there is also a monthly minimum fee of $25US. This monthly minimum fee means you will need to process a minimum of approximately $650-$675 in monthly US $ sales volume or you will be charged $25 instead of the MDR.
    This seems rather high to me, but I've only compared it with CDGcommerce and e-online resellers, etc.. who have no signup/setup fee, and much lower MDR.

    Is this normal for Canadian processing companies? Does anyone have a better rate/pricing?


  2. #2
    Join Date
    Apr 2004
    Toronto, Canada
    This appears to be pretty consistent with Canadian merchant account providers. Moneris is charging $250 just for the account set up.

  3. #3
    Join Date
    Jul 2003
    Castle Pines, CO
    The Canadian banking system is a lot different than the US.

    It is a little interesting though they throw in the USD. If I remember correctly, 34 banks in Canada that process the credit cards. Somewhat of a monopoly & I think only a couple of gateways currently.

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