Canada First

What Canada First does

Canada First is a privately held Canadian merchant services broker and independent sales organization founded in 2014 and headquartered in Saint Marys, Ontario. The company operates as an intermediary between Canadian SMB merchants and underlying payment processors — primarily First Data (now Fiserv) — sourcing merchant accounts, payment gateways, and POS hardware on behalf of businesses rather than running its own processing rail. Its customer base is concentrated in small and mid-sized Canadian businesses across hospitality, retail, restaurants, professional services, healthcare, transportation, and associations/non-profits, with a stated threshold of merchants processing above roughly $40,000/year in card volume.

The company's product surface spans merchant accounts, multi-currency processing across more than 50 currencies, virtual terminals, mobile payment acceptance, recurring billing, invoicing, tokenization, gift/loyalty programs, and high-risk merchant accounts. It distributes hardware from Clover, Ingenico, Verifone, Poynt, and Talech, and integrates with more than 100 pre-compatible shopping carts including Shopify, BigCommerce, Magento, and WooCommerce. The underlying processing and gateway technology is provided by First Data/Fiserv and Converge rather than developed in-house, with security provided via AVS, CVV2, 3D Secure, SSL, and PCI-certified tokenization.

Revenue is generated through three streams: transaction processing fees under a Cost Plus (Interchange Plus) model (with stated merchant rates as low as 0.087%), POS terminal sales and rentals, and recurring monthly service fees for gateway access, statement services, support, and PCI compliance monitoring. Distribution is sales-led and consultative — dedicated account managers, toll-free phone sales (888-616-6967), website quote requests, free statement reviews, and a broker referral network — with no disclosed external funding, headcount, or financial figures in the available data.

Name

Canada First

Legal name

Canada First

Website

https://canada-first.ca

Company type

Private

Founded year

2014

Operating status

Operating

Ownership category

akta.pro rank

Product category

Merchant Payment Processing Services

NAICS

Sales Financing (52222)

akta.pro primary industry

Integrated POS Payments (ISVs & Vertical POS Platforms) (FSAMADAD)

akta.pro secondary industry

Merchant & Commercial Acquiring (POS/eCommerce acquiring for corporates) (FSABAIAH)

Keywords

• Merchant services
• Credit card processing
• POS terminals
• Payment gateway
• Merchant accounts

Headquarters

HQ city

Saint Marys

HQ country

Canada

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Transaction Processing Fees: Revenue generated from processing credit and debit card transactions. Uses Cost Plus (Interchange Plus) pricing model where the company charges interchange rate plus a markup fee. Supports multiple currencies.
2. Payment Terminal Sales and Rentals: Provides various POS terminals including Clover, Poynt, Ingenico, and Verifone devices. Offers terminal purchase, rental, and cash back bonus options.
3. Monthly Service Fees: Monthly fees for gateway access, statement services, customer support, and PCI compliance monitoring. Reduced fees for additional merchant accounts.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Canada First is a Canadian merchant services broker that provides merchant accounts and credit card processing services through the First Data (Fiserv) processing platform. It distributes POS hardware and software (Clover, Poynt, Ingenico, Verifone, Talech) along with payment gateways, virtual terminals, e-commerce integrations, recurring billing, and value-added services such as gift/loyalty cards, invoicing, and merchant cash advance. The company differentiates via transparent Cost Plus (Interchange Plus) pricing with no cancellation fees and dedicated account managers.

Product overview

Canada First is a Canadian merchant services broker providing a comprehensive payment processing ecosystem. The core offering centers on dedicated merchant accounts paired with multiple hardware terminals (Clover, Ingenico, Verifone, Poynt) and software POS solutions (Clover POS, Talech POS, Poynt POS, Universal POS). Value-added services include Virtual Terminal for manual entry, Mobile Payments for on-the-go processing, E-Commerce gateway integration, and advanced billing tools (Recurring Billing, Invoicing, Batch Processing, Tokenization). The company differentiates through Cost Plus (interchange-plus) transparent pricing, no cancellation fees, and support for high-risk merchants. Business intelligence is provided through Business Track Reporting. The platform integrates with major shopping carts (BigCommerce, Shopify, Magento, WooCommerce) and payment gateways (Authorize.net, WorldPay, First Data).

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Research shows accepting credit cards can increase revenue by up to 25%
• +3 more outcomes

Named customers26 records

Segments12 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

Feature10 records

Partnerships

Twelve partnerships are on record, tiered core and secondary.

• First Data (now Fiserv)coreTechnology or IntegrationPrimary processing platform partner. First Data (now Fiserv) powers the payment processing infrastructure, authorization, settlement, and gateway services. Canada First provides merchant accounts backed by First Data's global processing network.
• ClovercoreTechnology or IntegrationPreferred POS hardware and software platform. Offers Clover Flex, Mini, Station Duo, Station Solo, and Kiosk devices with associated POS apps and Clover Capital financing options.
• PoyntsecondaryTechnology or IntegrationProvides Poynt POS and Poynt 5 smart terminals. Android-based payment devices that work as countertop or mobile terminals.
• IngenicosecondaryTechnology or IntegrationProvides Ingenico payment terminals including Desk 5000, ICT250, IWL 255, and Move 5000 for wired and wireless processing.
• VerifonesecondaryTechnology or IntegrationProvides Verifone MX 915 and VX series payment terminals for retail environments.
• TalechsecondaryTechnology or IntegrationCloud-based point-of-sale system partner providing anytime, anywhere access with real-time data management.
• Converge Payment GatewaycoreTechnology or IntegrationPayment gateway solution for processing transactions across all environments: in-store, mail/telephone order, mobile, and e-commerce.
• BigCommercesecondaryTechnology or IntegrationPreferred hosted shopping cart solution compatible with payment gateway. Good for intermediate users wanting advanced functionality.
• Magento CommercesecondaryTechnology or IntegrationEnterprise shopping cart platform compatible with payment gateway integration.
• Shopify E-commercesecondaryTechnology or IntegrationPopular e-commerce platform with pre-compatible shopping cart integration.
• Authorize.netsecondaryTechnology or IntegrationSupported 3rd party payment gateway for merchants requiring specific integration.
• Canadian Banks and Credit UnionscoreTechnology or IntegrationNext-day fund deposits to any Canadian bank including BMO, TD, Scotia Bank, CIBC, Royal Bank, National Bank, and credit unions.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Moneris: Canada's largest domestic payment processor and acquirer, offering merchant accounts, POS terminals, and e-commerce gateway solutions to the same SMB and enterprise segments Canada First serves. Direct head-to-head competitor for Canadian merchant acquiring volume.
• Helcim: Canadian-based payment processor offering transparent interchange-plus pricing, merchant accounts, POS, and online payments to SMBs — a near-direct competitor with a similar pricing-transparency value proposition to Canada First's Cost Plus model.
• Square (Block): Integrated POS hardware (Square Reader, Terminal, Register) plus software and payment processing targeting SMBs globally. Competes with Canada First's Clover and mobile POS offerings as a one-stop merchant services alternative.
• Stripe: Online and integrated payment processor with transparent pricing, gateway, and developer APIs serving SMBs through enterprises. Direct competitor in Canada First's e-commerce and Converge Payment Gateway segment.
• Clover Network (Fiserv): POS platform and app marketplace sold both through ISOs like Canada First and directly to merchants. Overlap on the full Clover hardware lineup (Flex, Mini, Station) and Clover Capital financing — a channel competitor to Canada First's POS bundle.
• Worldline (Beanstream): European-headquartered payment processor with Canadian heritage through Beanstream; offers merchant accounts, gateways, and POS solutions competing with Canada First's Converge Payment Gateway and acquiring services.
• Authorize.Net (Visa-owned): Payment gateway explicitly listed by Canada First as a supported third-party gateway; also offered independently to merchants seeking simple online payment integration — directly comparable gateway functionality.

Broad incumbents

• Fiserv (First Data): Canada First's primary processing platform partner and one of the world's largest payment processors; competes at the acquirer level while also enabling Canada First's residual revenue stream — a powerful dual-role incumbent.
• Global Payments: Large global merchant acquirer and integrated payment technology provider with direct merchant services and ISO partnerships. Competes broadly across Canada First's segments and offers rival multi-currency and omnichannel solutions.
• PayPal: Global online and in-store payment provider with broad SMB and enterprise reach. Competes with Canada First's e-commerce and multi-currency payment processing, particularly through PayPal Checkout and Braintree gateways.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

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 Canada First