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Procurement Market Intelligence Report

Credit Card Payment Processing Services in Canada
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Credit Card Payment Processing Services in Canada?

What is the average price of Credit Card Payment Processing Services in Canada?

This procurement report includes pricing information to help you purchase Credit Card Payment Processing Services in Canada. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Credit Card Payment Processing Services in Canada been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Credit Card Payment Processing Services in Canada yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Credit Card Payment Processing Services in Canada?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Credit Card Payment Processing Services in Canada with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Evaluate major factors to mitigate risk

How risky is the Credit Card Payment Processing Services supply chain in Canada?

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HIGH

MEDIUM

LOW

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Quality Control

  • How do you ensure credit cards are accurately processed?
  • What systems and tools do you have in place to minimize the number of errors that may occur when the credit cards are processed?
  • Who identifies errors and who fixes them? How quickly are they fixed?
  • How do you balance quick turnaround times with accurate service solutions?
  • How do you use client feedback to improve quality control?
  • What service monitoring reports are available?
  • Are you compliant with the Code of Conduct for the Credit and Debit Card Industry in Canada?

Staff Turnover

  • What has been your employee retention rate in the past year? Two years?
  • How do you recruit and retain your staff?
  • How long has each employee that is working on my team been employed with your company?
  • If an employee that is working on my project leaves, how will you assign a new employee to the project? How will you maintain workflows and meet deadlines?
  • What is the average tenure of your employees?
  • How does your turnover rate impact your services?

Value-Added Services

  • What value-added services do you offer? If I purchase additional services, how will my prices be impacted?
  • What type of free trial periods do you offer so I may test the services?
  • What type of discounts do you offer if I bundle services together?
  • If I switch from another service provider to you, what type of competitive discount would you offer, if any?
  • How have the value-added services you offer impacted the level of competition you face from other firms?
  • What firms do you partner with to provide more value-added services? How long have you been working together?

Sourcing across North America?

Combine Canada Spotlight Reports with our US Market Intelligence to bolster your North American strategy

Key elements for every RFP

What should my Credit Card Payment Processing Services in Canada RFP include?

Project Budget

  • Buyers should include the desired pricing model.
  • Vendors should include a pricing proposal, which should define and list all fees (e.g. reporting, charge backs, monthly minimums, authorizations, settlements) associated with each type of transaction (i.e. online, face to face).
  • Vendors should include purchase and lease prices for processing units, if necessary.
  • Vendors should include how they calculate discount fees (i.e. on gross or net sales).

Selection Criteria

  • Buyers should evaluate the vendor's experience with projects of similar complexity and scope, as well as the qualifications of their staff.
  • Buyers should evaluate vendors based on their projected costs.
  • Buyers should evaluate references from vendors' previous clients.

Project Schedule

  • Buyers should include the date when proposals are due and any other relevant dates (e.g. presentations or final interviews).
  • Buyers should include the date when the contract begins and ends.
  • Buyers should specify the local province time used in the timetable.