3 Critical Payment Processing Stories for SMBs

According to Press Monitor's tracking of Canadian publications, two major themes dominate this week: the sale of a leading processor and the rise of a homegrown challenger. Here are three stories every small and medium business should know about.

1. Moneris Sale Raises Concerns for SMBs

Saskatoon Starphoenix reports that Royal Bank of Canada has appointed Caroline Mulroney as vice-chair. She will advise business leaders on evolving government policy and public-sector developments. The article also examines concerns over the $2 billion sale of Moneris to Francisco Partners Management LP, including potential fee increases and transparency risks for small businesses.

Why it matters: Moneris, a dominant payments processor, is being acquired by private equity firm Francisco Partners Management LP in a $2 billion deal. Small businesses fear higher fees and less transparency.

Key detail: Saskatoon Starphoenix reports that Royal Bank of Canada has appointed Caroline Mulroney as vice-chair to advise on government policy. Meanwhile, business owner Paul Bains (Montreal Gazette coverage) switched away from Moneris due to a discount offer but later returned after facing issues during high transaction periods. He now worries about the sale's impact.

Source: Saskatoon Starphoenix | Royal Bank of Canada appointment

Next step: Review your payment processing agreement and compare rates before the acquisition closes.

2. Helcim Helps SMBs Save Hundreds Monthly

The Globe and Mail reports that Helcim, a payments processor, claims its fees are lower than those charged by the software companies it competes with. Three new customers told the newspaper they each saved hundreds of dollars a month after adopting its extension.

Why it matters: With processing fees a major cost for SMBs, Helcim's lower rates are making a real difference.

Key detail: The Globe and Mail reports that three new customers each saved hundreds of dollars per month after switching to Helcim's extension.

Source: The Globe and Mail

Next step: Calculate your potential savings using Helcim's online estimator.

3. Helcim Secures $53M Funding as Domestic Options Shrink

The Globe And Mail reports that Helcim Inc., a Canadian payments processor, has raised $53 million in equity financing from the Business Development Bank of Canada. This comes as domestic options dwindle following the sale of Moneris Solutions Corp. to a US buyer.

Why it matters: The Business Development Bank of Canada invested $53 million in Helcim, underscoring the need for Canadian-owned payment alternatives.

Key detail: This funding arrives just as Moneris is sold to a U.S. buyer, reducing domestic choices. Sean Silcoff reports in The Globe and Mail.

Source: The Globe and Mail

Next step: Explore Helcim as a Canadian alternative to protect your business from foreign ownership risks.

Closing: Which payment processor do you trust most? Share your experience in the comments. For more media intelligence on SMB trends, rely on Press Monitor.