Most Canadians meet Elavon at Costco: the warehouse's payment-processing partner, with a published tiered table starting at 1.10% for qualified transactions. But Elavon — a U.S. Bancorp subsidiary with 30+ years in processing — also sells direct through its own sales force and independent agents, at different prices and on different terms. The two channels are rarely priced side by side. They are here.
Direct-channel pricing (dated)
Elavon's direct small-business offering is tiered, with figures documented across multiple reviews (confirm in your quote — the deepest pages are years old):
| Direct-channel item | Documented rate |
|---|---|
| Card-present (swiped) | 2.65% + 19¢ |
| Card-not-present / keyed | 3.50% + 19¢ |
| Rewards-type structure (older pages) | 1.38% + 19¢ regular · 1.99% + 19¢ rewards cards · +25¢ all other cards |
| Monthly account fee | $10 |
| Monthly minimum (rewards structure) | $20 — the difference is charged |
| Terminal (Ingenico iCT250) | $499 |
Larger merchants can negotiate interchange-plus, and virtual-terminal rates run up to 0.5% + 30¢, with gateway fees up to $25/month and PCI compliance fees reported between $29 and $59/month. Equipment leases run 48-month locked terms. One third-party FAQ claims an all-in $175/month charge for businesses processing $50,000–$120,000 a year — unverified by any Elavon source, so treat it as a rumour with a number attached, not a price.
The Costco channel, briefly
For reference, the Costco-channel tiers (Canadian retail, CAD): Small Business Qualified 1.10%, Qualified 1.45%, Small Business Reward 1.85%, Reward 1.99%, Non-qualified and Premium 2.07%, Super Premium and key-entered 2.80% — with network assessments on top and a $10/month minimum. Internet and phone orders price separately. That channel is covered in depth in the dedicated Costco Elavon review; what matters here is the comparison.
The channel math: $30,000/month
The setup: $30,000/month, $50 average ticket (~600 transactions). Card mix: 60% standard, 40% rewards.
Direct Elavon (rewards structure): $18,000 × 1.38% = $248.40; $12,000 × 1.99% = $238.80; 600 × $0.19 = $114; $10 monthly. Total: ~$611/month.
Costco-channel Elavon: $18,000 × 1.10% = $198; $12,000 × 1.99% = $238.80; assessments ~$30; $10 minimum. Total: ~$477/month (plus the membership).
Square (2.5% in-person): $750/month.
The read: the Costco channel wins for members by ~$134/month here; direct Elavon still beats Square by ~$139. But both Elavon figures assume your volume actually lands in the favourable tiers — a premium-heavy mix erodes the direct channel's edge fast, since the 1.38% applies to standard cards only.
The contract traps
Two details deserve more attention than the rate table. First, the early termination language: one review warns the wording could make you liable for the greater of the previous 12 months' or the following 12 months' fees — read the exact clause, because the number it produces can dwarf the rate savings. (A separate review notes contracts are effectively month-to-month with no early cancellation fees but carry multi-year terms that auto-renew if you don't follow the closure procedure exactly — another reason to read, not skim.) Second, the refund trap: Elavon does not return the interchange portion when you refund a transaction — it keeps it. High-refund businesses pay this on every return. And the sales channel matters: Elavon uses independent agents on residual income alongside its inside sales team, which reviewers warn can make for a rushed, pushy pitch. Get every promise in the written agreement.
- Costco member? Price the warehouse channel first — the 1.10% qualified tier is hard to beat.
- Not a member? Get the direct quote in writing and check which tier structure it uses — the 2.65%+$0.19 flat tier and the 1.38%/1.99% rewards structure are different products.
- Read the termination clause slowly. Termination language and monthly minimums are where processors recover the margin they gave up on the rate — and ask what a zero-volume month costs before you sign.
- Count your refunds. Kept interchange on refunds is a real cost for return-heavy businesses.
- Verify the agent's promises against the written agreement — residuals reward closing, not accuracy.
A note on steps: this is a channel comparison, not a setup procedure — the checklist above is the actionable part.
FAQ
Can I get Elavon in Canada without Costco?
Yes — Elavon sells direct through its sales force and independent agents. Documented direct rates include 2.65% + 19¢ swiped and 3.50% + 19¢ keyed, with a $10/month fee; larger merchants can negotiate interchange-plus. Confirm current figures in a written quote.
Is Costco Elavon cheaper than direct Elavon?
For members, usually — the 1.10% qualified tier undercuts the direct channel's documented rates in our $30k/month worked example by about $134/month. Non-members should price the direct channel against Square/Helcim instead.
What's the catch with Elavon direct?
The termination-fee wording (potentially 12 months of fees), no interchange refunds on refunded transactions, 48-month equipment leases, and agent-sold contracts that need careful reading.