Payments · Interchange-Plus Processors
Helcim Review
Interchange-plus card processing with a published margin and no monthly fee
Quick verdict
Helcim is best for Contractors processing steady card volume who want a published processing margin, automatic volume discounts and no monthly fee, and don't mind reading an interchange-plus statement. Interchange-plus statements are more complex than a flat rate; underwriting at sign-up; periodic account reviews can delay early deposits; total cost depends on your customers' card mix.
Rates & pricing
Interchange-plus, no monthly fee. Helcim's margin on top of interchange starts at 0.40% + 8¢ in person and 0.50% + 25¢ keyed and online (up to $50K average monthly volume) and steps down automatically to 0.15% + 6¢ in person and 0.15% + 15¢ keyed and online above $1M. ACH 0.5% + 25¢, capped at $6 for transactions under $25,000.
Pricing model: interchange plus · Monthly fee: $0
Affiliate disclosure: The link to Helcim on this page goes to its own site and is not an affiliate link.
About Helcim
Helcim is a payment processor for small and mid-sized businesses, headquartered in Calgary, Alberta and led by founder and CEO Nic Beique. In August 2026 it announced a C$53 million Series C led by BDC's Growth Venture Fund, and it says it serves more than 22,000 active merchants across North America. It prices card payments on interchange-plus: you pay the card issuers' interchange and card-network fees at cost, plus Helcim's margin, which your monthly statement shows as its own line.
Helcim's margin starts at 0.40% + 8¢ for in-person cards and 0.50% + 25¢ for keyed and online cards, and it drops automatically as your average monthly volume over the last three months grows: 0.35% + 7¢ and 0.45% + 20¢ from $50K, 0.25% + 7¢ and 0.35% + 20¢ from $100K, 0.20% + 6¢ and 0.25% + 15¢ from $500K, and 0.15% + 6¢ and 0.15% + 15¢ above $1M. Helcim says it charges no monthly fee. ACH bank payments cost 0.5% + 25¢, capped at $6 for transactions under $25,000.
For a trade business, the toolset covers invoicing, recurring payments, a virtual terminal for phone payments, and a customer portal where clients pay open invoices and save cards or bank accounts. In the field you can use Helcim's card reader, its Smart Terminal or Tap to Pay on iPhone. Helcim connects to QuickBooks Online (Pay Now buttons on emailed invoices and Auto-Collect for recurring payments) and has its own app in the Xero App Store. Its Fee Saver feature passes card fees to customers as a surcharge or convenience fee where allowed; Helcim lists Connecticut, Colorado, Maine, Massachusetts and Oklahoma as restricted for in-person surcharges.
The trade-off: interchange-plus costs vary by card type, so statements take more reading than a single flat rate, and how much you save depends on your card mix and volume. Sign-up includes underwriting, which Helcim says usually takes a day or two, and Helcim may run periodic account reviews that can delay funds from your first batches.
How it works
You apply online and go through underwriting, which Helcim says usually takes a day or two. Once approved, you take payments in person (Helcim card reader, Smart Terminal or Tap to Pay on iPhone), by phone through the virtual terminal, online, by invoice or on recurring schedules. Each card payment costs interchange and card-network fees at cost plus Helcim's margin, and your margin tier is set automatically from your average monthly volume over the last three months. Card deposits generally arrive 1-2 business days after your batch settles; eligible US merchants whose bank is on the RTP or FedNow networks can get next-business-day Faster Deposits at no extra cost on batches up to $25,000. ACH payments take 3-5 business days to arrive.
Pros & cons
What works
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Published, itemized margin
Interchange and card-network fees pass through at cost, and Helcim's margin appears as its own line on your monthly statement, so you can check exactly what the processor keeps.
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Automatic volume discounts
The margin steps down automatically across five tiers based on your three-month average volume, from 0.40% + 8¢ in person below $50K a month to 0.15% + 6¢ above $1M. No renegotiation is needed.
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No monthly fee
Helcim says it charges no monthly fee, so a small or seasonal shop pays only per transaction and is not carrying a fixed cost through slow months.
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Tools for invoiced and recurring work
Invoicing, recurring payments, a virtual terminal and a customer portal where clients pay invoices and save cards or bank accounts cover on-site, phone and maintenance-plan billing.
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Low-cost ACH and fee pass-through
ACH costs 0.5% + 25¢, capped at $6 for transactions under $25,000, and Fee Saver can pass card fees to customers where surcharging or convenience fees are allowed.
What doesn't
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Statements take more reading
Interchange-plus costs vary by card type, so your statement is less simple than a single flat rate. It suits an owner willing to track an effective rate rather than one headline number.
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Underwriting at sign-up
Because it is a full merchant account, Helcim reviews your business before approval; it says underwriting usually takes a day or two and may ask about your processing needs and refund policies.
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Account reviews can delay funds
Helcim's help center says it may run periodic account reviews and that a review can delay funds from your first transaction batches until it is complete.
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Savings depend on your card mix
Rewards and business cards carry higher interchange, which passes straight through. The margin is low, but your total cost still depends on the cards your customers use.
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ACH is slower than cards
ACH payments take 3-5 business days to arrive, versus 1-2 business days for card batches, which matters if you steer large invoices to ACH to save fees.
Features & integrations
Key features
Integrations
Frequently asked
What is interchange-plus pricing?
Interchange-plus means you pay the card issuer's interchange and the card networks' fees at cost, which vary by card type, plus a fixed margin from the processor. Helcim's margin starts at 0.40% + 8¢ for in-person cards and 0.50% + 25¢ for keyed and online cards, and it shows as its own line on your monthly statement.
Is Helcim cheaper than Square?
It depends on your card mix and volume. Square Free charges a flat 2.6% + 15¢ in person, while Helcim charges interchange at cost plus 0.40% + 8¢, falling automatically as your volume grows. Pull a recent statement, look at your interchange costs and compare both on your own numbers.
Does Helcim have monthly fees or contracts?
Helcim says it charges no monthly fee; you pay per transaction. Its help center explains how to close an account yourself and does not mention a cancellation fee, but read your merchant agreement before you sign.
Helcim vs a subscription processor: which is cheaper?
A subscription processor charges a fixed monthly fee in exchange for a smaller markup on each payment, so it only pays off once your volume is high enough to cover the fee. Helcim has no monthly fee and lowers its margin automatically with volume. Compare both on your actual monthly volume and average ticket.
Are there downsides to Helcim?
Interchange-plus statements take more reading than a flat rate, and your total cost depends on the cards your customers use. Sign-up includes underwriting, and Helcim may run periodic account reviews that can delay funds from your first batches. ACH is cheap but takes 3-5 business days to arrive.
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