What PSP Services does

PSP Services Inc. is a Canadian payment services provider founded in 2003 and headquartered in Vaughan, Ontario. The company delivers payment processing, point-of-sale (POS), e-commerce gateway, and accounting integration solutions primarily to small and midsize businesses across Canada and the United States, and, more recently, to credit unions and financial institutions following the announced acquisition of NCR Atleos's Canadian debit card production and transaction processing business. PSP's product portfolio is anchored by its proprietary HLX™ Unified Commerce Platform, which integrates all major North American card brands (Visa, Mastercard, Interac, American Express) and supports chip-and-PIN, NFC contactless, magnetic stripe, and manual key entry across in-store, online, and mobile channels.

The technical stack includes an in-house Postilion-based payment switch supporting ISO 8583 messaging, EMV chip card processing, and PCI PTS 4.x-certified hardware (notably the A920 Android tablet terminal). PSP bundles PCI DSS compliance, tokenization, 3-D Secure authentication, fraud monitoring, and chargeback management into its merchant services, and operates a Payment Integration Middleware that certifies third-party POS and restaurant management systems to its endpoints while maintaining PCI scope inside PSP terminals.

PSP earns revenue primarily through a Merchant Discount Rate (MDR) take rate on processed card volume, supplemented by per-transaction, monthly, and chargeback fees ($25 per chargeback), hardware sales of payment terminals, professional services for ERP/accounting integration, and managed services including fraud and chargeback workflows. Go-to-market is a direct field and inside sales motion targeting SMBs and an enterprise sales motion serving credit unions and financial institutions, with customer-acquisition support from card-brand relationships and a partner-referral channel.

Name

PSP Services

Legal name

PSP Services Inc.

Website

https://pspservicesco.com/

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

PSP Services is a Canadian payment processor and acquirer that provides integrated payment processing, cloud POS, e-commerce gateway, and accounting solutions to small and midsize businesses, credit unions, and financial institutions across North America via its proprietary HLX™ unified commerce platform.

Ownership category

akta.pro rank

Product category

Payment Processing Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)

akta.pro secondary industries

Integrated POS Payments (ISVs & Vertical POS Platforms) (FSAMADAD), POS Payment Software & Middleware (Terminal OS, Apps, Device Management) (FSAMADAC)

Keywords

• Payment processing services
• Point of sale systems
• Merchant acquiring
• Payment gateway solutions
• Unified commerce platform

Headquarters

HQ city

Vaughan

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Payment Processing & Transaction Fees: PSP Services charges merchants a Merchant Discount Rate (MDR) based on average monthly VISA and MasterCard dollar volumes and the dollar size of average transactions. Additional fees include set-up fees, per-transaction fees, monthly fees, and chargeback fees ($25 per chargeback). The revenue model is consumption-based and recurring, driven by merchant transaction volumes.
2. Hardware Sales: Sale of payment terminals and POS hardware including countertop, wireless, PIN pad, and mobile terminals (e.g., A920 tablet mobile terminal).
3. Professional & Consulting Services: Additional services such as ERP integration, accounting solutions, and custom POS configurations generate supplementary revenue through implementation and ongoing service fees.
4. Managed Services: Managed services including chargeback management workflows, fraud management tools, and PCI compliance support bundled within merchant service agreements.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

PSP Services provides end-to-end payment processing and merchant acquiring services through its proprietary HLX™ Unified Commerce Platform, supporting credit, debit, NFC contactless, chip-and-PIN, and mobile payments across in-store, online, and mobile channels. The company delivers cloud-based POS systems, EMV-certified hardware (A920 wireless terminal), ecommerce gateways, payment integration middleware, accounting solutions, fraud management, PCI compliance, and multi-currency processing for SMB merchants, credit unions, and financial institutions across Canada and North America.

Product overview

PSP Services offers a unified commerce platform architecture built around the proprietary HLX™ Unified Commerce Platform as the core product. The platform integrates all major North American payment brands and supports modular solutions across eCommerce, in-store payments, and Point of Sale (POS) systems. The product portfolio includes: the HLX™ core platform with fraud management and reporting; Payment Processing supporting all card brands and Interac; the POS Management System with ERP and CRM capabilities; Payment Integration Middleware for third-party system connections; Ecommerce Gateway with 3D Secure; Accounting Solutions for software integration; B2B Payment Solutions with ERP; Pay in Your Currency for multi-currency transactions; and the A920 Wireless Terminal hardware. The company also offers industry-specific solutions for hospitality, trade professionals, and non-profit organizations.

Differentiator

Problem solved

Functional benefit

Brands

• HLX™ Unified Commerce Platform: Proprietary cloud-based unified commerce platform integrating all major North American payment brands with features including customized data settings, enriched insights, chargeback management workflows, user management permissions, and fraud management tools.
• A920 Payment Tablet Terminal

Products and services

• HLX™ Unified Commerce Platform Proprietary cloud-based unified commerce platform integrating all major North American payment brands, offering customized data settings, enriched insights, chargeback management workflows, user management permissions, and fraud management tools. Sold to merchants and financial institutions across Canada and North America.
• Payment Processing Flexible payment solutions supporting all major credit card brands and Interac debit, including chip-and-PIN, NFC tap contactless, magnetic stripe swipe, and manual key entry across in-store, online, and mobile channels. For SMB merchants and enterprises.
• Point of Sale (POS) Management System Industry-leading cloud-based POS solution designed to optimize business operations for restaurants, retail, hospitality, salons, and spas. Features include point of sale, fast order taking, back-end management, ERP, CRM, inventory tracking, loyalty/gift cards, and advanced sales analytics.
• Payment Integration Middleware Standalone middleware solution enabling fast EMV integration with third-party payment solutions for tablets, POS systems, restaurant management systems, PCs, and kiosks. Maintains PCI DSS compliance scope within PSP terminals with auto-update features.
• Ecommerce Gateway Virtual terminals and integrated systems for internet payment processing with 3D secure authentication, providing a secure state-of-the-art gateway for online transactions.
• B2B Payment Solutions Business-to-business payment solutions helping merchants transition from traditional cheque methods to secure electronic payment options, integrated with ERP for total operational transparency.
• Pay in Your Currency (Dynamic Currency Conversion) Multi-currency payment processing solution that allows international customers to pay in their preferred currency at the point of sale or ATM, improving customer satisfaction and reducing chargebacks.
• Fraud Management & Security Tools Standalone fraud and security offering including 3-D Secure authentication, geolocation security, cardholder and device authentication, IP monitoring, data protection, and chargeback monitoring and reduction program.
• A920 Wireless Payment Terminal Tablet mobile terminal powered by Android OS with large HD color display, built-in thermal printer, NFC contactless, electronic signature capture, and PCI PTS 4.x certification. Designed for trade professionals, taxis, tow trucks, and mobile businesses.
• Hospitality Payment Solutions Fully integrated payment solutions for hospitality merchants including restaurants, hotels, retail, grocery, and commercial venues, with multilingual support and unified commerce capabilities.
• Trade Professionals Payment Solutions Custom POS solutions for trade professionals including A920 wireless platform for tow truck companies, taxis, independent contractors, and distributors requiring portable payment terminals.
• Non-Profit Organizations Payment Solutions Custom secure and reliable payment solutions designed for non-profit organizations and charities, including donation collection capabilities at point of sale.
• Accounting Solutions Integration Integration solution that allows daily sales and inventory data to be uploaded to accounting software of choice, featuring reconciliation tools, accounts receivable reduction, and cash flow management via APIs.
• PCI Compliance Program PCI compliance program for merchants, included as part of merchant services, with third-party security assessment validation against PCI Data Security Standards.

Quantifiable outcome

• 24/7 concierge technical support available to merchants at all times
• +1 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature8 records

Partnerships

One partnership is on record.

• Peoples Payment Solutions Ltd. (PSiGate)coreStrategic or Co-development Partner · 9 May 2022PSP Services Inc. completed its acquisition of Payment Services Interactive Gateway Inc. (PSiGate), a subsidiary of Peoples Payment Solutions Ltd., on May 9, 2022. The acquisition aimed to enhance PSP's online and mobile payments capabilities in Canada and North America.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Moneris: Moneris is Canada's largest payment processor serving SMBs and enterprises with card acceptance, POS, and e-commerce solutions — the closest direct Canadian competitor to PSP Services across virtually the same customer verticals (retail, hospitality, non-profit).
• Helcim: Helcim is a Canadian payment processor and POS provider targeting small and midsize businesses with transparent interchange-plus pricing — directly comparable to PSP Services' SMB focus and Canadian merchant base.
• Lightspeed Commerce: Lightspeed is a Canadian-headquartered omnichannel POS and payments platform for retail, hospitality, and golf — overlapping with PSP Services' hospitality and retail verticals on both POS software and integrated payment processing.
• TouchBistro: TouchBistro is a Canadian POS and integrated payments provider focused on the restaurant and hospitality vertical — directly comparable to PSP Services' hospitality solutions including multilingual support and full-service restaurant workflows.

Broad incumbents

• Square (Block): Block's Square offers integrated POS hardware, payment processing, and software for SMBs globally with significant Canadian presence — a broad incumbent competing across all of PSP Services' SMB verticals.
• Stripe: Stripe is a global payment processor and developer-first platform with growing Canadian SMB and enterprise penetration — competes with PSP Services on e-commerce gateway, integrated payments, and developer-facing APIs.
• Global Payments: Global Payments is a large global merchant acquirer and integrated payments provider — competes with PSP Services on merchant acquiring for SMB and enterprise merchants across Canada and North America.
• Fiserv (Clover): Fiserv's Clover network and merchant services compete with PSP Services on integrated POS hardware and payment processing for SMB merchants across retail and hospitality in North America.
• Elavon: Elavon is a global merchant acquirer (US Bank subsidiary) offering integrated POS and payment processing — competes with PSP Services on enterprise payment processing and omnichannel merchant services in North America.

Regional players

• TD Merchant Solutions: TD Merchant Solutions is a Canadian bank-affiliated card acceptance and POS provider — directly competes with PSP Services for Canadian SMB merchants within TD's banking customer base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&A2 records

Investments

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

Frequently asked questions about PSP Services