TD Merchant Solutions is the incumbent bank channel for Canadian processing: rates set per merchant, by quote, with no public rate card anywhere — comparison sites uniformly list "no price information available." That sounds like a dead end for research. It isn't, because TD publishes something its competitors don't: its interchange rate sheets. The wholesale cost is public; only TD's markup is secret. This guide shows you how to read the public half, documents the only other verifiable numbers, and gives you the checklist that makes a TD quote comparable.
Reading TD's interchange tables (verified)
TD's General Business program sheet (April 2026 edition) lists the network interchange cost by card type and transaction method — the part of your bill TD doesn't control and can't negotiate:
| Mastercard, General Business (Canada) | Interchange rate |
|---|---|
| Card-present EMV / contactless | 0.70% |
| Digital commerce | 1.57% – 2.13% by card tier |
| Standard (keyed / unqualified) | Up to 2.53% by card tier |
Your TD statement mirrors this structure: per card type it shows an interchange differential (the wholesale rate above) and a discount rate adjustment fee — the adjustment being TD's layer. Add every adjustment-fee dollar across card types for a month and divide by your card volume: that percentage is TD's markup, the only number that was ever negotiable. A rep can quote whatever headline they like; the statement arithmetic doesn't lie.
The only other published numbers: Payeezy plans (dated)
TD's gateway, Payeezy, is the one corner of TD pricing with documented figures — though they come from a years-old review and need freshness-checking before you rely on them: a Basic plan at 2.90% + 30¢ with no gateway, statement, or batch fees, and a Pro plan at 1.89% + 30¢ with a $19.95/month fee and no other add-ons. Same source documents a $495 early termination fee and $19.95/month PCI compliance fee — again, dated, confirm in your agreement. TD also acquires processing customers through banking promos: a RedFlagDeals-documented offer paid $600 for opening a TD Merchant Solutions account and running one card payment within 120 days. Promos discount the signup, never the rate.
How to extract the markup from a quote
- Ask for the markup over interchange, in writing — not a blended rate. "0.30% + 10¢ over interchange" is a comparable number; "1.75%" is not.
- List every monthly fee: account, statement, PCI, gateway, minimums. The quote's headline never includes all of them.
- Get the contract length and termination fee in writing. Dated reports cite $495; your agreement is the only current source.
- Ask the zero-volume question: "What do I owe if I process nothing?" Minimums answer it.
- Audit the first statement with the differential-plus-adjustment math above. If the statement's markup doesn't match the quote, you have a documented discrepancy to take back to the rep.
Worked math: auditing a TD statement
The setup: one month, $60,000 in card volume. Your TD statement's per-card-type lines show adjustment fees totalling $540.
The markup: $540 ÷ $60,000 = 0.90% over interchange — before monthly fees. If the rep quoted "0.30% over," the statement says otherwise, and the 0.60-point gap on $60k is $360/month of unexplained cost.
The benchmark: published flat-rate cards (Square 2.5% in-person, Stripe 2.9% + 30¢ online) give you the comparison set. A TD quote only earns the banking-relationship premium if its all-in effective rate beats these — compute it from the statement, not the pitch.
The exit math
One pattern from documented processor migrations: leaving TD for a competitor typically coincides with a new POS rollout — the switching cost is hardware and retraining, not just the rate, so budget the full move. Get the termination fee and any equipment obligations in writing before you start, and time the switch for a slow period. TD's quote-only model means your leverage is highest before you sign; after that, the statement-audit math is your only ongoing weapon.
A note on steps: this is a pricing investigation, not a setup procedure — the checklist and audit math above are the actionable parts.
FAQ
Does TD publish merchant processing rates?
No. TD Merchant Solutions sets pricing per merchant by quote; comparison sites list no public pricing. TD does publish its interchange rate sheets (the wholesale cost) — the markup over interchange is the quoted, negotiable part.
What is the TD Payeezy pricing?
Dated third-party reports describe a Basic plan (2.90% + 30¢, no extra fees) and a Pro plan (1.89% + 30¢, $19.95/month). These figures are years old — confirm whether the plans still exist before relying on them.
How do I know if my TD rate is fair?
Compute your markup from the statement: sum the discount-rate-adjustment fees across card types, divide by card volume. Compare that percentage — plus all monthly fees — against published alternatives like Square (2.5% in-person) or interchange-plus providers.