Payments · Interchange-Plus Processors
Helcim Review
Transparent interchange-plus pricing with no monthly fee or contracts
Quick verdict
Helcim is best for Higher-volume contractors who want the lowest transparent processing cost with no monthly fee or contract, and don't mind reading an interchange-plus statement. Interchange-plus statements are more complex than a flat rate; some account-closure complaints; real merchant-account underwriting at signup; not a broad retail-POS ecosystem like Square.
Rates & pricing
Interchange-plus, no monthly fee, no contracts. Starts at interchange + 0.40% + 8¢ in-person and interchange + 0.50% + 25¢ online; average effective ~1.93% + 8¢ in-person and ~2.49% + 25¢ online. Automatic volume discounts above $50K/mo.
Pricing model: interchange plus · Monthly fee: $0
Affiliate disclosure: No confirmed affiliate program — we currently earn nothing from Helcim.
About Helcim
Helcim is widely considered the most transparent payment processor in the industry — and for a higher-volume contractor, often the cheapest. Founded in 2006 in Calgary, it uses interchange-plus pricing: you pay the card networks' actual interchange cost plus a small, published markup, with no monthly fee, no contracts, and no cancellation fees. That structure exposes the true cost of each transaction instead of burying it in a flat rate, and it gets cheaper automatically as your volume grows (volume discounts kick in above $50K/month).
For trades, the appeal is real savings without games: average effective rates run about 1.93% + 8¢ in person and 2.49% + 25¢ online — meaningfully below flat-rate processors like Square on equivalent volume — plus invoicing, a virtual terminal, recurring billing, and a customer portal. There's no monthly fee, so even smaller shops can benefit, and the transparency makes it easy to verify you're being charged fairly.
The trade-offs: interchange-plus statements are slightly more complex to read than a single flat rate (the cost varies by card type), so it rewards a contractor willing to understand their effective rate. And while Helcim is a beloved, highly-transparent processor, it's still a payment processor — reviews are mixed in spots, with some users reporting account closures with little warning (a risk common across the industry). For a contractor processing meaningful volume who wants the lowest transparent cost and no contract, Helcim is one of the best picks; the simplicity-first crowd may still prefer Square.
How it works
You sign up (a quick underwriting step, since it's a real merchant account) with no monthly fee or contract. Helcim charges interchange-plus: the card networks' published interchange cost passed straight through, plus Helcim's small fixed markup, itemized on your statement so you can see exactly what you pay. You accept payments in person (free or low-cost hardware/app), online, by invoice, via a virtual terminal, or on recurring schedules, and a customer portal lets clients pay and save cards. As your monthly volume rises, automatic volume discounts lower the markup — no renegotiation needed. Funds settle to your bank on a standard schedule.
Pros & cons
What works
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Most transparent pricing in payments
Interchange-plus passes through the card networks' true cost plus a published markup, itemized on your statement. You can verify exactly what you pay — the opposite of opaque flat-rate or tiered pricing.
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Usually cheapest at real volume
Average effective rates (~1.93% + 8¢ in-person) beat flat-rate processors on equivalent volume, and automatic volume discounts above $50K/month lower costs further as you grow — no renegotiation.
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No monthly fee, no contract
Unlike subscription processors, Helcim has no monthly fee, and no contracts or cancellation fees — so even smaller shops can use it and leave freely if it doesn't fit.
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Full toolset included
Invoicing, virtual terminal, recurring billing, and a customer portal come included, covering the ways a contractor actually collects: on-site, online, and recurring maintenance billing.
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Volume discounts are automatic
Rates step down automatically as monthly volume rises, so a growing shop keeps getting cheaper without having to call and negotiate a new deal.
What doesn't
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Statements are more complex
Interchange-plus costs vary by card type, so statements are less dead-simple than a single flat rate. It rewards a contractor willing to understand their effective rate rather than wanting one headline number.
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Account-closure complaints
Some users report account closures with little warning. This risk exists across payment processors, but it's a reason to keep a backup option and understand Helcim's underwriting/risk policies.
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Real merchant-account signup
Because it's a true merchant account with interchange-plus, signup involves underwriting rather than the instant, no-questions setup of Square. Slightly more friction up front.
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Less of a retail POS ecosystem
Helcim is excellent for service-business invoicing and payments, but it isn't the broad retail POS + banking + payroll ecosystem that Square is. Shops wanting that bundle may prefer Square.
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Savings need some volume to matter
At very low volume, the difference versus a flat-rate processor is small, and simplicity may win. The transparency and savings compound as your processing volume grows.
Features & integrations
Key features
Integrations
Frequently asked
What is interchange-plus pricing?
Interchange-plus means you pay the card networks' actual interchange cost (which varies by card type) plus a small, fixed, published markup from the processor. It's the most transparent model because the markup is visible and consistent — unlike flat-rate (one blended price) or tiered (opaque buckets). Helcim's markup starts at 0.40% + 8¢ in-person.
Is Helcim cheaper than Square?
Usually yes, at meaningful volume. Helcim's average effective rate (~1.93% + 8¢ in-person) is below Square's flat 2.6% + 15¢, and volume discounts lower it further above $50K/month, with no monthly fee. At very low volume the gap is small and Square's simplicity may win, but as you process more, Helcim's transparent pricing typically saves real money.
Does Helcim have monthly fees or contracts?
No — Helcim has no monthly fee, no contracts, and no cancellation fees. You pay only interchange-plus per transaction. That's a key difference from subscription processors like Stax, which charge a monthly fee in exchange for no percentage markup.
Helcim vs Stax — which transparent model is cheaper?
Both avoid flat-rate markups but differently: Helcim is interchange-plus with no monthly fee (great across a wide volume range), while Stax charges a monthly subscription ($99+) plus interchange and a flat per-transaction fee (better only at high volume where the subscription is amortized). Lower-and-mid-volume shops usually prefer Helcim; very high-volume shops should compare both on their actual numbers.
Are there downsides to Helcim?
Two main ones: interchange-plus statements are more complex than a single flat rate (cost varies by card type), and some users report account closures with little warning — a risk common across processors. It's also a real merchant account, so signup involves underwriting rather than instant setup. For transparency and savings at volume, most find it worth those trade-offs.