Paystone
Paystone is a Canadian bank-independent payment processor serving 38,000+ SMBs with terminals, online checkout, POS, and recurring billing, augmented by acquired loyalty (DataCandy, Ackroo) and reputation marketing (NiceJob) sub-brands.
- Company typePrivate
- Founded2008
- HeadquartersLondon, Canada
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Paystone does
Paystone is a privately held Canadian payment processing company headquartered in London, Ontario, founded in 2008. The company operates as a bank-independent acquirer, processing over $10 billion in annual transaction volume for more than 38,000 businesses across Canada through POS terminals, online checkout gateways, virtual terminals, hosted payment pages, online invoicing, and recurring billing modules. It positions itself as Canada's largest bank-independent payment processor, competing on transparent pricing (in-person rates starting at 1.26% + 5¢ per transaction, online at 2.26% + 10¢), no long-term contracts, next-business-day fund deposits, and a multi-channel support model.
The company has expanded its product surface through an acquisition-driven strategy, adding DataCandy (gift card and loyalty, acquired 2019), NiceJob (reputation marketing, acquired October 2021), Canadian Payment Services (merchant services, acquired January 2022), and Ackroo Inc. (loyalty and gift card, acquired for ~$21 million CAD in April 2025). These are operated as retained sub-brands alongside the core Paystone payments brand. The technology stack integrates fraud monitoring, real-time reporting dashboards, and PCI DSS-compliant infrastructure, with revenue generated from transaction processing markups, equipment rental/leasing, application and administrative fees, and subscription billing from the loyalty and reputation marketing platforms. Distribution is primarily direct-to-SMB via the company website (self-serve signup and sales-assisted calls), supplemented by a partner/reseller program and integrations marketplace. The Terms of Service restrict the core payments service to Canada, though NiceJob maintains a North American footprint.
Paystone firmographics
Firmographics- Name
- Paystone
- Legal name
- Paystone Inc.
- Website
- https://paystone.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Paystone is a Canadian bank-independent payment processor serving 38,000+ SMBs with terminals, online checkout, POS, and recurring billing, augmented by acquired loyalty (DataCandy, Ackroo) and reputation marketing (NiceJob) sub-brands.
- Ownership category
- akta.pro rank
Paystone industry classification
Industry- Product category
- Payment Processing
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)
- akta.pro secondary industries
- Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA), Bill Pay, Invoicing & Payables Platforms (BPAMAFAF), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB)
Keywords
Where Paystone is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Paystone business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- Transaction Processing Fees: Percentage-based and flat-fee charges per payment transaction processed (credit and debit cards, in-person and online). Revenue scales with transaction volume. Interchange fees from card networks plus a Paystone markup constitute the fee structure.
- Equipment Rental/Leasing: Merchants rent or lease payment terminals and POS hardware from Paystone per the terms in their agreement. Fees vary by equipment type and connectivity (wireless vs. wired).
- Application Fees: One-time, non-refundable application fee charged upon submission of each merchant application, regardless of approval outcome.
- Administrative Fees: Fees for account maintenance, chargebacks, insufficient funds notices, touchtone/voice authorization, and early termination. These represent ancillary revenue from account servicing.
- Subscription Services (DataCandy): Monthly subscription fees for DataCandy loyalty and gift card platform, with professional services for initial setup and configuration.
- Recurring Billing / Subscription Billing: Automation of subscription and installment payments for merchants using Paystone's recurring payments module.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | In-Person Credit Card Processing |
| Transaction based/ take rate | Pay-as-you-go | In-Person Debit Card Processing |
| Transaction based/ take rate | Pay-as-you-go | Online/Credit Card Processing |
| Unit Pricing | Monthly | Equipment Rental |
| Unit Pricing | Pay-as-you-go | Administrative & Miscellaneous Fees |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels6 records
Paystone product offering
Product offeringCore offering
Paystone is Canada's largest bank-independent payment processor providing credit and debit card processing for small and medium-sized businesses. It offers payment terminals, online checkout, virtual terminal, invoicing, hosted payment pages, recurring billing, and POS systems, complemented by the DataCandy gift card/loyalty platform and NiceJob reputation marketing software.
Product overview
Paystone is a Canadian payment processing company operating under a multi-brand strategy with three distinct offerings: (1) Paystone core brand as Canada's largest bank-independent payment processor providing payment terminals, online checkout, virtual terminal, invoicing, payment pages, recurring payments, and POS systems; (2) DataCandy sub-brand for gift card and loyalty programs; and (3) NiceJob sub-brand for reputation marketing. The company serves 38,000+ businesses and processes over $10 billion annually. Additional offerings include fundraising platform services for charities.
Differentiator
Problem solved
Functional benefit
Brands
- DataCandy: The gift card and loyalty platform that turns casual customers into loyal regulars.
- NiceJob
Products and services
- Payment Terminals Payment terminals that enable merchants to accept in-person credit and debit card payments, including Visa, Mastercard, Amex, Discover, Interac debit, and UnionPay.
- Online Checkout
Quantifiable outcome
- Over $10 billion processed annually across 38,000+ businesses in Canada
- +2 more outcomes
Companies that use Paystone
Customer profileNamed customers4 records
Segments1 record
Ideal customer profiles2 records
Paystone technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
Paystone partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- SendJimminorSendJim, a direct mail service provider, partnered with NiceJob (Paystone's reputation marketing subsidiary) to deliver combined direct mail and review marketing services tailored for home service businesses. The collaboration aims to help businesses improve their Google rankings and attract more positive reviews through integrated direct mail campaigns and review request automation.
Scale indicators9 records
Recent moves6 records
Expansion highlights5 records
Paystone competitors and assessment
Company assessmentDirect peers
- Helcim: Canadian SMB payment processor offering transparent, no-contract pricing for in-person and online card acceptance. Most direct competitor to Paystone in the bank-independent Canadian SMB segment.
- SumUp: European-rooted global SMB payment processor offering card readers and POS solutions with transparent pricing. Comparable in customer segment and product breadth to Paystone.
- North American Bancard: US SMB payment processor and ISO with bank-independent positioning, transparent pricing, and acquisition-driven growth. Closely mirrors Paystone's model outside Canada.
Broad incumbents
- Moneris: Canada's largest payment processor, jointly owned by RBC and BMO. Direct competitor in SMB processing but as a bank-owned incumbent with bundled banking distribution and broader scale.
- Square (Block): Global SMB commerce platform combining payment processing, POS hardware, and software (loyalty, marketing, payroll). Highly comparable integrated suite targeting SMB merchants.
- Stripe: Global online payment processor increasingly moving into in-person and SMB terminals. Competes with Paystone's online checkout and gateway offerings for Canadian SMB and ISV customers.
- Clover (Fiserv): Fiserv's SMB POS and payments platform combining hardware, software, and merchant acquiring. Closely comparable to Paystone's integrated terminal + POS + processing model.
- Global Payments: Large global merchant acquiring and payments technology provider operating across SMB, enterprise, and software platforms. Relevant scale and capability benchmark for Paystone's long-term trajectory.
Regional players
- Lightspeed Commerce: Canadian-headquartered unified POS and payments platform for retail and restaurant SMBs. Adjacent competitor with payments embedded into its commerce software.
Emerging players
- Toast: Restaurant-focused integrated POS + payments platform that has expanded into broader SMB commerce. Comparable integrated suite and SMB acquisition playbook to Paystone's vertical expansion strategy.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Paystone social profiles
Digital presencePaystone compliance and trust
Trust signalCompliance1 record
Paystone financial estimates
Financial estimateRevenue estimate
Valuation estimate
Paystone leadership team
Management profileNumber of profiles
Profiles5 records
Paystone subsidiaries and ownership
Company hierarchySubsidiaries4 records
Paystone funding detail
Funding detailFunding overview
Funding rounds3 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Paystone M&A and investment
M&A and investmentM&A7 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Paystone
What does Paystone do?
Paystone is Canada's largest bank-independent payment processor providing credit and debit card processing for small and medium-sized businesses. It offers payment terminals, online checkout, virtual terminal, invoicing, hosted payment pages, recurring billing, and POS systems, complemented by the DataCandy gift card/loyalty platform and NiceJob reputation marketing software.
Is Paystone a public or private company?
Paystone is a private company. It is classified as venture growth investor backed and is currently operating.
When was Paystone founded?
Paystone was founded in 2008. It employs 101 to 250 people.
Where is Paystone based?
Paystone is headquartered in London, Canada, in the North America region.
How does Paystone make money?
Six revenue lines are on record. Transaction Processing Fees are the primary driver. The others are equipment Rental/Leasing, application Fees, administrative Fees, subscription Services (DataCandy) and recurring Billing / Subscription Billing.
Who are Paystone's main competitors?
Direct peers on record are Helcim, SumUp and North American Bancard. Broad incumbents are Moneris, Square (Block), Stripe, Clover (Fiserv) and Global Payments. Lightspeed Commerce is listed as a regional player. Toast is listed as an emerging player.
Does Paystone have an API?
No public API is recorded for Paystone.
What industry is Paystone in?
Paystone's product category is Payment Processing. Its primary akta.pro industry code is FSAMABAA, Integrated Payment Processors (PSP/Acquirer), with a secondary code of FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout). Its NAICS code is 52232 and its SIC code is 6199.