Square's pitch is simplicity: one rate card, no monthly processing fees, no long-term contracts. The catch for Canadians is that most of what's written about Square's rates describes the United States — 2.6% + 10¢ in-person, 2.9% + 30¢ online. Canada's card is different, and the differences are exactly where the money is: Interac debit has its own rate, and the in-person credit rate isn't the US number. Rates below are from Square's Canadian fees page, checked October 2026.
The Canadian rate card
| Channel | Canadian rate | Notes |
|---|---|---|
| In-person credit (tap, dip, swipe) | 2.5% | No per-transaction fee; all card brands the same |
| Interac debit (tap, insert, swipe) | 0.75% + 7¢ | Priced separately from credit — the key Canadian distinction |
| Online | 2.8% + 30¢ | E-commerce and online checkout |
| Manually entered / keyed-in | 3.3% + 15¢ | Phone orders, virtual terminal |
| Instant transfers | 1.5% | Standard next-business-day deposits are free |
No monthly processing fees, no setup fees, no hidden charges on standard pricing — you pay when you make a sale. Businesses processing over $250,000 a year in card sales may qualify for custom rates through Square's sales team.
The rate discrepancy to watch
Heads-up: some Square Canada product pages quote 2.65% for in-person credit and 2.9% + 30¢ for invoices — different from the fees-page card above. When Square's own pages disagree, treat the dedicated fees page as the reference and confirm the rate in writing during sign-up. Invoice payments generally follow the online/card-not-present rate on your plan.
The debit distinction: Interac isn't priced like credit
This is the most Canadian line on the card. A $45 Interac tap costs 0.75% + 7¢ — about $0.41. The same $45 on credit costs 2.5% — $1.13. Square passes the debit savings through instead of pocketing them, which is precisely the flat-rate trap that traditional bundled pricing sets: many processors bill debit at the credit rate. On Square, a debit-heavy store genuinely pays less, automatically.
Plan tiers: when the subscription changes the rate
Square's software subscriptions — Square Appointments runs Free, Plus ($35/month), and Premium ($85/month), for example — are separate from processing. On standard pricing the processing rates above apply regardless of which software plan you hold; the subscription buys features (calendars, marketing, team management), not a lower rate. Don't confuse a software upsell with a processing discount — unless you've negotiated custom volume pricing, the card above is the card.
A $40,000/month worked example
The setup: $40,000/month, $45 average ticket (~889 transactions). Mix: 70% in-person credit, 20% Interac debit, 10% online.
In-person credit: $28,000 × 2.5% = $700
Interac debit: ~178 taps × ($45 × 0.75% + $0.07) ≈ $73
Online: $4,000 × 2.8% + ~89 × $0.30 ≈ $139
Total: roughly $912/month — an effective rate near 2.28%, with no monthly fee on top. Move 10 points of mix from debit to keyed-in and the total climbs fast: keyed transactions at 3.3% + 15¢ are the most expensive line on the card.
A note on steps: this is a rate-card explainer, not a setup procedure — the channel table and worked example above are the actionable parts.
FAQ
Is Square's in-person rate 2.5% or 2.65% in Canada?
Square's Canadian fees page lists 2.5% for in-person credit; some Square Canada product pages quote 2.65%. When the pages disagree, use the fees page as the reference and confirm in writing at sign-up.
Does Square charge monthly fees in Canada?
No monthly processing fees, setup fees, or long-term contracts on standard pricing. Software subscriptions (Appointments, Marketing, etc.) are separate paid products — they don't change your processing rate.
When does Square stop being cheap?
Volume and mix. Above roughly $250,000/year in card sales, ask about custom rates — and if your mix is heavy on keyed-in or online transactions, compare against interchange-plus quotes, where wholesale pricing often wins.