As a business owner, it’s crucial to offer your customers a seamless and secure payment experience. With so many payment processing solutions available in the market, it can be overwhelming to choose the right one for your business needs.

We’ll guide you through the process of selecting the best payment processing solution that aligns with your business requirements. We’ll cover essential factors to consider, such as fees, security, and ease of use. By the end of this article, you’ll have a better understanding of the payment processing landscape and be able to make an informed decision for your business.

Stripe, Square, and Clover are all popular payment processing solutions for small & medium-sized businesses in Canada. While all three offer similar features in Security, Ease of use, Competitive fees, and Amazing support; they each have different features, making them more suitable for different types of businesses.

Three of our Top Picks – Payment Processing Solutions

  1. Stripe

    It offers an easy-to-use API that makes it easy to accept payments on websites and mobile apps. Stripe also integrates with a large number of e-commerce platforms and has a reputation for being reliable and secure. If you are self-sufficient and have technical capabilities, Stripe is a great option for developers and small online merchants. Stripe has simple signup, a good platform, and a lot of great documentation. The fees for Stripe are 2.9% + 30 cents per transaction, with no monthly fees or hidden costs.

  2. Square

    Its main selling point is its low cost and ease of use. Square offers a small credit card reader that plugs into a smartphone or tablet and allows businesses to accept payments on the go. Again, Square has simple signup, a good platform, and a lot of great documentation. The fees for Square are 2.75% per transaction, with no monthly fees or hidden costs.

  3. Clover

    offers a range of hardware options and a user-friendly interface. Clover also offers inventory management and customer relationship management (CRM) features. The fees for Clover vary based on the hardware used and the payment processing services chosen, with some options charging monthly fees and others charging per transaction fees.

These three options are great for small and medium-sized businesses. The percentage fees are higher with Stripe & Square, so that’s why it works for lower revenue merchants.

When it comes to integration with Xero accounting software, all three payment processing solutions offer some level of integration. Stripe allows customers to pay invoices directly through Xero, making it easy to keep track of payments and reconcile accounts. Square and Clover also integrate with Xero, allowing businesses to track their financials in one place.

In conclusion, each of these payment processing solutions has its own strengths and weaknesses, and the best option for a business will depend on the specific needs of that business.

Stripe is the best choice for online businesses, Square is the most cost-effective for point-of-sale transactions, and Clover offers a range of hardware options and additional features for businesses that want more control over their payment processing.

If you’re considering setting up a Xero account with one of these payment providers. Be sure to book a consult with us and check out what we can do here.

Virtual Heights Accounting is a CPA firm that operates in the virtual world. We provide virtual accounting, tax, Virtual CFO, and Controller services for your growing Company. Contact us at or follow our blog on your chosen social media source. This blog is intended for general use and understanding and does not replace direct professional advice.