Clik2pay

What Clik2pay does

Clik2pay (legally Element Financial Technology Inc.) is a Toronto-based financial technology company founded in 2018 that operates a digital payment platform enabling Canadian businesses to accept real-time and recurring payments directly from customer bank accounts via Interac e-Transfer. The platform is built on licensed Interac e-Transfer Request Money and Send Money rails, supported by Peoples Trust banking infrastructure and AWS-hosted data centers in Canada, with OAuth 2.0 authentication and webhook-based real-time transaction notifications. Core products include a Payment Requests API (for collecting payments via web, SMS, email, QR code, and batch upload of up to 10,000 requests), a Payments API (for refunds, payouts, and reimbursements), a web-based merchant portal with role-based access control, and two Shopify App Store apps (an Interac Widget and a Refunds app).

The company serves customers across five primary use cases: bill pay, collections, e-commerce, financial services, and non-profit fundraising. Its distribution model is hybrid: enterprise field sales for medium-to-large businesses, an API-first developer self-serve motion with sandbox testing for technical integrators, a no-code portal for agent-assisted and batch payments aimed at SMBs, and a Shopify marketplace listing for e-commerce merchants. Revenue is generated primarily through per-transaction fees at a published rate of 1.4% plus $0.50 per successful transaction on the Standard plan, with custom enterprise pricing for high-volume merchants. Named customers include TELUS, Koodo, Lenovo, GoodLife Fitness, EnergyCAP, Make-A-Wish Canada, Ollie Quinn, and Snuggle Bugz, among others, with all operations confined to the Canadian market.

Name

Clik2pay

Legal name

Element Financial Technology Inc.

Website

https://clik2pay.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Clik2pay is a Toronto-based payment platform that enables Canadian businesses to accept real-time and recurring payments directly from customer bank accounts via Interac e-Transfer, serving bill pay, collections, e-commerce, financial services, and non-profit use cases.

Ownership category

akta.pro rank

Product category

Payment Processing Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Request-to-Pay (R2P) & Pay Links (FSAMAFAE)

akta.pro secondary industry

A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)

Keywords

• Payment processing platform
• Interac e-Transfer
• Pay-by-bank
• Real-time bank payments
• Merchant payment API

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Infrastructure, Personnel, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Transaction Fees: Clik2pay charges a per-transaction fee deducted from the payment amount when deposited into the merchant's account. The Standard plan charges 1.4% plus $0.50 per successful transaction. Custom pricing is available for businesses with large volumes or unique requirements. No hardware, card readers, or additional equipment is required.

Pricing tiers

Go-to-market motion4 records

Distribution channels4 records

Marketing channels4 records

Core offering

Clik2pay is a Canadian payment platform that enables businesses to accept real-time and recurring payments directly from customers' bank accounts via Interac e-Transfer. The platform exposes a Payment Requests API for collections and a Payments API for refunds/payouts, plus a no-code web portal and native Shopify integration. It serves bill pay, collections, e-commerce, financial services, and non-profit verticals in Canada, charging 1.4% + $0.50 per successful transaction on its Standard plan with custom enterprise pricing available.

Product overview

Clik2pay is a Canadian payment platform enabling businesses to accept real-time or recurring payments directly from bank accounts via Interac e-Transfer. The core offering consists of Payment Requests API and Payments API (for collections and refunds/payouts respectively), accessed through a web-based Merchant Portal. The platform serves multiple verticals including bill pay, collections, eCommerce, financial services, and non-profits. Payment acceptance methods include API integration, agent-assisted no-code payments, and batch processing (up to 10,000 requests per upload). Native Shopify integration includes the Interac Widget for customer-facing messaging and a dedicated refunds app. The platform leverages the trusted Interac e-Transfer network with 100% Canadian bank coverage.

Differentiator

Problem solved

Functional benefit

Products and services

• Payment Requests API REST API enabling merchants to initiate customized Interac e-Transfer Request Money payments. Supports payment collection via web, SMS, email, QR code, or batch processing, with flexible (FLEX) and scheduled payment options and multiple transaction types (ECOMM, EBILL, FLEX, SMART).
• Payments API REST API for initiating Interac e-Transfer Send Money payments including refunds, payouts, reimbursements, and returns to customers, with real-time webhook notifications for payment status updates.
• Clik2pay Merchant Portal Web-based merchant dashboard for creating and managing payment requests, viewing transactions and statuses, accessing settlement reports and fees, and managing team users with role-based access control (Administrator, Team Lead, User).
• Interac Widget by Clik2pay Shopify App Store widget that displays Interac e-Transfer payment messaging on product pages and storefronts to inform customers about pay-by-bank options and improve conversion confidence.
• Clik2pay Refunds App for Shopify Shopify App Store app for processing customer refunds directly within Shopify admin using Clik2pay, supporting full and partial refunds.
• Clik2pay Bill Pay Solution Vertical payment solution enabling businesses such as utilities, subscription services, and service providers to offer customers a way to pay down owing balances instantly via Interac e-Transfer.
• Clik2pay Collections Solution Vertical payment solution designed to improve the success rate of collecting overdue funds from customers in financial services, automotive finance, and utilities through agent-assisted SMS/email payment links and real-time bank transfers.
• Clik2pay Financial Services Solution Vertical payment solution enabling lenders, dealerships, and finance companies to top-up cards, fund wallets, or collect loan payments in real-time directly from customer bank accounts.
• Clik2pay Non-Profit Payments Solution Vertical payment solution helping charities and non-profit organizations collect donations, run recurring giving programs, and execute event-based fundraising via QR code and Interac e-Transfer.
• Clik2pay eCommerce Solution Vertical payment solution for online retailers and e-commerce merchants seeking lower-cost pay-by-bank checkout, expanded payment reach, and reduced reliance on credit card processing.

Quantifiable outcome

• Save up to 50% on payment processing fees compared to credit cards
• +5 more outcomes

Named customers15 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature13 records

Partnerships

Eight partnerships are on record, tiered flagship, core and minor.

• Make-A-Wish CanadaflagshipStrategic or Co-development Partner · 1 June 2021Clik2pay launched its bill payment service at the Payments Canada SUMMIT in partnership with Make-A-Wish Canada, using a charitable campaign to demonstrate QR code payment capabilities. This was a high-profile launch partnership showcasing the platform's real-time payment capabilities.
• InteraccoreTechnology or IntegrationClik2pay operates as a licensed provider using Interac e-Transfer infrastructure. Interac e-Transfer Request Money and Send Money form the core payment rails. The Interac and Interac e-Transfer trademarks are used under license from Interac Corp.
• Peoples Trust CompanycoreStrategic or Co-development PartnerPeoples Trust Company is referenced as a key offering partner providing the banking infrastructure and deposit accounts for Clik2pay's payment services.
• TwiliocoreTechnology or IntegrationTwilio is used as a service provider for delivering email and text message notifications to customers in the payment flow. Clik2pay shares email addresses and mobile numbers with Twilio to facilitate payment request notifications.
• Amazon Web Services (AWS)coreTechnology or IntegrationClient and Consumer data is stored on Amazon Web Services (AWS), encrypted in accordance with information security standards, and located in Canada.
• ShopifyflagshipTechnology or IntegrationClik2pay offers two apps on the Shopify App Store: 'Interac Widget by Clik2pay' for displaying Interac payment messaging on storefronts, and 'Clik2pay Refunds' for processing refunds directly in Shopify admin. Integration requires merchant credentials from Clik2pay portal.
• Payments CanadacoreTechnology or IntegrationClik2pay is subject to the bylaws, rules, and regulations of Payments Canada as a payment service provider operating on Canadian payment networks.
• JAMS (Judicial Arbitration and Mediation Services)minorOthersJAMS administers the binding individual arbitration process for resolving disputes between Clik2pay and merchants, as specified in the Terms of Service.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Adyen: Enterprise-focused global payment processor supporting unified online and in-person payments. Comparable as a direct competitor for enterprise merchants in Canada, with broader rail coverage but less focus on Interac-native bank payments.
• PayPal: Established global payments network offering merchant checkout and P2P transfers. Comparable as a broad incumbent competing for online payment volume, including emerging bank-to-bank rails, though with a much wider product portfolio than Clik2pay.
• Stripe: Global payments platform with extensive A2A and pay-by-bank initiatives (including partnerships with banks in multiple regions). Comparable as a developer-first PSP serving online merchants, though Stripe's offering is broader and card-centric rather than Canada-only or Interac-specific.
• Square (Block): Diversified payments and financial services provider covering SMB checkout, banking, and lending. Comparable as a broad incumbent offering payment acceptance to SMBs, including e-commerce and bill-pay-adjacent flows.
• Paysafe: Global payments platform with strong presence in SMB, online checkout, and alternative payment methods. Comparable as a broad incumbent addressing similar merchant segments with multiple payment rails, though not Interac-specific.

Emerging players

• Plaid: Data connectivity and bank-linking infrastructure powering account verification, balance checks, and payment initiation. Comparable as a key enabler of bank-payment experiences; Clik2pay uses Open Banking-style data flows for recurring payments and bank linking.

Direct peers

• Dwolla: US-based A2A payment API platform enabling bank-to-bank transfers for businesses. Comparable as a developer-first A2A / pay-by-bank infrastructure provider targeting similar use cases such as bill pay, disbursements, and marketplace payments.
• Trustly: Specialized pay-by-bank / A2A payment provider in Europe and the US, offering merchants direct bank-account payments. Comparable as a direct competitor in the pay-by-bank category, though Trustly operates in different geographies and bank networks.

Regional players

• Mollie: European-focused PSP offering unified payment acceptance to SMBs and marketplaces. Comparable as a regional, developer-friendly PSP serving similar SMB and mid-market customers, though operating in a different geography and rail set than Clik2pay.
• Moneris: Canadian payment processor providing merchant acquiring, online checkout, and POS solutions. Comparable as a regional incumbent competing for the same Canadian merchants Clik2pay serves, particularly in e-commerce and recurring billing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Clik2pay