It was buggin me that I hadn't seen anyone compare the relative prices of Moneris and Beanstream, the two major Canadian payment processors, so I did what was necessary to find out for my purposes, and thought I would post it up for all of you, should you care to know.
A few things you should know going into this comparison - It was assumed that you would need both an Internet Merchant Account, and an Internet Gateway Payment Processing Account, as well as the ability to accept both CDN & US dollar purchases. Thus, the prices below reflect that. Also, since you have to call Moneris to get a pricing quote, I had to commit to a few things that might not apply to you - I told the moneris sales rep that the company I was representing sold home garden watering systems, that it did about 100 transactions per month, averaging $125 per transaction, totalling about $12,500 CDN in monthly sales. I can't say for sure, but I would imagine that Home Gardening system sales is a pretty low-risk market to be in, and also that the "Discount Rate" moneris quoted me (a.k.a. the %/transaction, a.k.a. the "rob you blind per sale" percentage) would probably be slightly higher if the monthly sales amount and/or volume were lower, and the discount rate is the single largest cost in this whole equation. So, take these numbers with a grain of salt, or, said another way, these numbers may not apply to you, but they're at least a start and something to consider.
So, without further ado...
setup 525 200
monthly 50 90
$/trX 0.25 0.35
%/trx 2.5% 3.5%
Assuming 100 trx/month
trx/yr 1,200 trx/year
So there you have it - in these specific circumstances, beanstream is slightly less expensive to start up, and slightly more expensive in the long haul my very narrow case, it would appear that Moneris would be the way to go, even if they are a bunch of slimy wankers.
Now for the good news: There are 3rd-party payment processor modules for both, found at the beanstream thread
created by jabberwock (and helped by CiPHeR), and the Moneris thread
created by yyzcity. Nice work both of you!
So, there you have it. Moneris would be cost you less if you're doing large volumes, but , beanstream is cheaper to get set up. Thoughts? Comments? Other Canadian payment processors that I missed that you think should be added to this round-up?