Shopify Payments for Canada

Merchants based in Canada can use Shopify Payments to accept Visa, Mastercard, American Express, Discover, and Diners Club debit and credit cards. You can also accept Apple Pay, Google Pay, and Shop Pay.

Businesses in Canada can also accept payments using Bancontact, and iDEAL.

Fees for Shopify Payments in Canada

Shopify Payments fees are location-dependent and can vary. To get the most accurate and detailed information regarding fees, visit the plans and pricing page for Canada. This page provides a breakdown of the rates and fees associated with Shopify Payments based on your selected plan.

Note

The plans and pricing page is accessible only in the language and currency specific to that country. If you need to translate the plans and pricing page, then you can use a browser extension, such as the Google Chrome extension.

View payment rates in your Shopify admin

If you're already a Shopify merchant, then you can access information about the specific rates and fees applicable to your store location and chosen plan.

Steps:

1. From your Shopify admin, go to Settings > Payments.
2. In the Shopify Payments section, click Manage.
3. View the rates that apply to different payment methods.

Requirements for Shopify Payments

To use Shopify Payments, ensure that you can meet the following requirements.

Prohibited businesses

Some types of businesses and services are not permitted to use Shopify Payments. To see whether you can use Shopify Payments, check the list of prohibited business types for Canada.

More details can be found in the Shopify Payments Terms of Service (TOS).

Bank account requirements for Shopify Payments

Make sure that your bank account meets the following requirements before you connect it to Shopify Payments:

• The bank account is a checking account with a bank in Canada.
• If your payout currency is CAD, then the bank account must be in CAD currency.
• If your payout currency is USD, then the bank account must be in USD currency.
• The bank account is eligible for ACH transfers.

Checking accounts that are set up to accept only wire transfers don't work with Shopify Payments. Savings accounts, flex-currency accounts, and money-transferring services that mimic bank accounts aren't supported by Shopify Payments. Although non-Shopify virtual accounts are supported, you might experience more payout failures with these accounts.

To confirm that your account can accept the transfer type listed for your region, contact your bank.

Personal information requirements for Shopify Payments

In response to regulations in different countries, you're required to provide information about you and your business. The information is collected to help identify merchants using Shopify Payments, including the beneficial owners of a particular corporate entity. The purpose of collecting this information is to comply with regulatory requirements designed to prevent money laundering, terrorist financing, and other financial crimes.

As local rules and regulations evolve, Shopify and its partners might contact you to collect additional information about you and your business. These standard reviews can occur at any time during the lifespan of your Shopify Payments account.

The information that Shopify is required to collect differs from country to country, but typically includes details about the following:

• the individual creating the Shopify Payments account
• the business associated with the Shopify Payments account
• the individuals who ultimately own or control the business, which includes the business owner or a senior executive with legal signing authority for the business

To help the verification process, when providing documents as evidence, ensure that your documentation:

• is clear and and large enough to read
• is correct and valid
• is up-to-date with the most recent date possible
• is complete with all details visible
• is free of any errors or typos
• matches the information provided

Acceptable document types for individuals and businesses in Canada include the following.

Identity documents:

• Passport
• Driver license: scans of front and back are required
• Certificate of Indian Status card
• Permanent resident card
• Identity card: scans of front and back are required
• Non-driver photo ID
• Photo card

Accepting payments

In most countries, when your business is a sole proprietorship you're automatically set up to accept all major payment methods as soon as you create your Shopify store with Shopify Payments activated. Your card rate is based on your store's Shopify subscription plan, and you can change plans whenever you want.

Note

You can receive payouts in a different currency than the currency that you sell in while using Shopify Payments. For more information, see Selling and getting paid in different currencies.

Businesses in Canada can accept Visa, Mastercard, American Express, Discover, and Diners Club debit and credit cards. Additionally, businesses in Canada using the Shopify POS can accept Interac debit cards for both contactless tap and chip plus PIN entry methods using the Tap & Chip card reader. Accepting Discover automatically allows acceptance of UnionPay and accepting American Express automatically allows acceptance of JCB.

Businesses in Canada can also accept payments using Bancontact, and iDEAL.

Pay periods

Your pay period refers to the amount of time between the date that a customer's payment is captured and the date that those funds are sent to your bank account. The date and time that a customer's payment is captured is recorded in UTC time. Funds from payments that are captured on Friday, Saturday, and Sunday are grouped and sent together as one payment.

Note

The funds might not appear in your bank account right after they're sent. Banks typically take between 24-72 hours to process deposits to your bank account.

In Canada, the pay period is 3 business days.

Learn more about getting paid with Shopify Payments.

Tax reporting

As a merchant, you are required to abide by all applicable regulations, including tax reporting. Depending on your jurisdiction, Shopify Payments might also be required to report your sales to the local tax authorities.