Paytek

What Paytek does

Paytek Solutions is a Canadian payment processing company founded in 2018 and headquartered at 650 W Georgia St, Vancouver, BC. The company operates as an Independent Sales Organization (ISO) of Fiserv Canada Ltd, distributing Clover payment hardware and Talech point-of-sale (POS) software to small and medium-sized businesses across Canada. Its product portfolio spans Clover all-in-one devices (Station Solo, Station Duo 2, Mini, Flex), the Talech POS platform with vertical-specific variants for restaurants (Talech Restaurant), retail (Talech Retail), and service businesses (Talech Services), the Converge virtual terminal and payment gateway, the Paytek Web e-commerce platform built on BigCommerce, and a cryptocurrency acceptance add-on (Paytek Crypto) delivered through a partnership with NetCents. Supporting integrations include Skip the Dishes, Uber Eats, QuickBooks, Newland N910, Poynt, and Ingenico 5000-series terminals.

The company differentiates itself primarily through its CostPlus pricing model, an interchange-plus structure that passes through card network costs with a single transparent fee and claims savings of up to 40% versus traditional bank rates. Pricing is fixed for the lifetime of the merchant relationship with no hidden fees, and the company offers month-to-month and lease-to-own hardware options. Revenue is generated through three streams: transaction-based processing fees on every payment processed (primary), recurring monthly SaaS subscriptions for Talech POS tiers (free to $100/month) and Paytek Web (Basic $20/month to customized Premium builds), and hardware sales or leasing across Clover, Ingenico, Newland, and Poynt terminals. The company is PCI DSS compliant and references GDPR and CCPA in its privacy posture.

Paytek serves a primarily SMB customer base across three primary verticals — restaurants and food service, retail, and service businesses — with secondary segments in mobile merchants and e-commerce. The go-to-market is direct and digital, anchored by paytek.ca with online application, phone sales (1-877-282-3737), email support, live chat, and a rate calculator lead-capture tool. Distribution is augmented by integration partnerships with delivery aggregators, BigCommerce, and NetCents. The company is privately held with no disclosed funding rounds, no parent company, no public management team bios available in the input data, and an employee count in the 11-50 range.

Name

Paytek

Legal name

Paytek Solutions

Website

https://paytek.ca

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Paytek Solutions is a Vancouver-based ISO of Fiserv Canada that distributes Clover payment hardware, Talech POS software, Converge gateway, and ecommerce solutions to Canadian SMBs under a transparent interchange-plus pricing model.

Ownership category

akta.pro rank

Product category

Payment Processing Services

NAICS

Computer and Computer Peripheral Equipment and Software Merchant Wholesalers (42343)

SIC

Finance Services (6199), Wholesale-Computers & Peripheral Equipment & Software (5045)

akta.pro primary industry

Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)

akta.pro secondary industries

Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE), POS Terminal Hardware (Countertop, Mobile, PIN Pads) (FSAMADAA), POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB)

Keywords

• Payment processing services
• Merchant services
• POS solutions
• Card payment terminals
• Ecommerce solutions

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Payment Processing Fees: Transaction-based fees charged on every payment processed. Uses CostPlus (interchange-plus) model passing through card network costs plus a small processing margin. Primary revenue stream from payment volume.
2. POS Software Subscriptions: Monthly SaaS fees for Talech POS system across Mobile (free), Starter ($50/m), Standard, and Premium ($100/m) tiers. Recurring revenue from software licensing with tiered feature access.
3. E-commerce Platform: Monthly subscriptions for Paytek Web ecommerce platform: Basic gateway ($20/m), Standard drag-and-drop site ($30/m), and Premium customized builds. Additional revenue from digital marketing services.
4. Hardware Sales: Sale and lease of payment terminals including Clover devices, Ingenico 5000 series, Newland N910, and Poynt smart terminals. Month-to-month and lease-to-own options available.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Paytek is a Canadian merchant services provider that processes card payments for small and medium businesses using a transparent CostPlus (interchange-plus) pricing model. The company distributes Clover payment hardware and Talech POS software as an Independent Sales Organization of Fiserv Canada Ltd, and complements these with its own Converge virtual terminal, Paytek Web e-commerce platform, and Paytek Crypto add-on for cryptocurrency acceptance.

Product overview

Paytek is a Canadian payment processing company offering a unified portfolio of hardware terminals, POS software platforms, and e-commerce solutions. The product ecosystem centers on Clover hardware devices (Flex, Mini, Station Solo, Station Duo 2) and the Talech POS platform, which includes restaurant-specific (Talech Restaurant), retail (Talech Retail), and services (Talech Services) variants. Supporting products include Converge virtual terminal/payment gateway for multi-channel payments, the Newland N910 and Ingenico 5000 Series terminals, Paytek Web e-commerce platform built on BigCommerce, Poynt smart terminals, and Talech Mobile (Link2500) card reader. The Paytek Crypto add-on enables cryptocurrency acceptance via NetCents. These products are designed to work together through various integrations including Skip the Dishes, Uber Eats, QuickBooks, and iOS/Android apps.

Differentiator

Problem solved

Functional benefit

Brands

• Paytek Web: E-commerce platform offering simple websites starting at $30/month with drag-and-drop functionality, branded online stores, unlimited product storage, and professional reporting tools.
• Paytek Crypto
• Converge Virtual Terminal

Products and services

• Payment Processing Services (CostPlus) Transparent interchange-plus card payment processing for Canadian businesses with no hidden fees and rates fixed for the lifetime of the merchant relationship. Accepts credit, debit, contactless, and mobile wallet payments.
• Clover Flex Handheld all-in-one payments and POS device with built-in printer and scanner, wifi and 3G connectivity. Supports product management, promotions, employee clock-in, and online ordering for Canadian merchants.
• Clover Mini Countertop all-in-one payments and POS device with plug-and-play setup, merchant and customer screens, remote cloud access, and integration with external printers, cash drawers, and scanners.
• Clover Station Solo POS device with catalogues, menus, and modifiers built in. Integrates with wireless Clover devices for comprehensive point-of-sale functionality at the counter.
• Clover Station Duo 2 Full-suite POS running on the counter with integration to wireless Clover devices, combining payment processing and business management for SMB merchants.
• Clover Dining Restaurant-specific POS solution built on Clover with table management, online ordering, contactless QR code payments, Kitchen Display integration, and seamless order integration with Skip the Dishes and Uber Eats.
• Talech POS iPad-based point of sale platform with industry-tailored variants for restaurants (tableside ordering, kitchen display), retail (inventory, loyalty), and services (booking, invoicing). Offers tiered subscriptions from free Mobile to $100/month Premium.
• Converge Virtual Terminal Flexible payment gateway and virtual terminal for in-person, phone, mobile, and online payments. Includes product management, recurring payments, billing and invoicing, multi-currency conversion, and Converge Connect for integrated card reader setup.
• Newland N910 Handheld payment terminal with 7-inch touchscreen, built-in chip/contactless/magstripe reader, front camera for barcode scanning, and wireless connectivity via WiFi, 3G, or Bluetooth. Integrates with Talech POS.
• Ingenico Desk 5000 Reliable countertop payment terminal with 3-inch touchscreen, hybrid technology combining traditional and smart terminal features, 99% uptime, and support for contactless, chip, smart pay, and gift cards.
• Ingenico Move 5000 Completely wireless payment terminal operating via Bluetooth, WiFi, or 3G for payment acceptance at delivery, chair-side, or counter locations.
• Poynt Smart Terminal Smart terminal with dual-screen capability featuring 8-inch merchant-facing touchscreen. Runs Talech POS directly on the device for restaurant, retail, or service functionality on a handheld.
• Talech Mobile (Link2500) Compact Bluetooth card reader that turns mobile devices into a payment terminal, accepting chip and tap payments. Connects to any device and integrates with Converge and Talech POS.
• Paytek Web E-commerce platform built on BigCommerce with three tiers: Basic e-commerce gateway ($20/month), Standard drag-and-drop site ($30/month), and Premium fully customized site. Includes social media management, email marketing, and a dedicated account manager.
• Paytek Crypto Cryptocurrency payment solution powered by NetCents, enabling merchants to accept multiple cryptocurrencies online, in-store, and via invoice with automatic conversion to fiat. Supports Clover, Poynt, and Ingenico terminals plus major e-commerce platforms.

Quantifiable outcome

• Save customers up to 40% over traditional bank rates
• +1 more outcomes

Named customers3 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

Integration9 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core.

• Fiserv Canada LtdcoreChannel Partner/ Reseller/ DistributorPaytek Solutions operates as an Independent Sales Organization (ISO) of Fiserv Canada Ltd, reselling Clover payment hardware and processing services under the Fiserv umbrella in Canada.
• Clover Network, LLCcoreTechnology or IntegrationClover Network provides payment hardware ecosystem (Station, Mini, Flex) that Paytek resells and supports for Canadian merchants. Clover trademarks are utilized under Fiserv relationship.
• NetCentscoreTechnology or IntegrationPartnership to provide Paytek Crypto — cryptocurrency payment solution enabling merchants to accept Bitcoin and other cryptocurrencies online, in-store, and via invoice with automatic volatility protection.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Moneris: Canada's largest domestic payment processor and acquirer (jointly owned by RBC and BMO). Directly competes for the same Canadian SMB merchant processing accounts that Paytek targets.
• Helcim: Canadian payments company that pioneered transparent interchange-plus pricing for SMBs. Most direct comparable — similar transparent pricing thesis, Canadian focus, and merchant services portfolio, though Helcim has raised institutional capital and built proprietary processing infrastructure.
• TouchBistro: Canadian restaurant POS provider with integrated payment processing. Direct competitor within Paytek's primary restaurant vertical and Talech Restaurant segment.
• Lightspeed Commerce: Canadian-headquartered commerce platform serving retail and restaurant SMBs with POS, payments, and e-commerce. Overlaps with Paytek's Talech Restaurant/Retail positioning and Canadian customer base.

Broad incumbents

• Fiserv: Parent-level acquirer behind Paytek's ISO relationship and Clover hardware ecosystem. While not a direct SMB-facing competitor, defines the rails and economics of Paytek's offering.
• Square (Block): Global SMB payments and POS leader. Competes with Paytek for the same Canadian small-business merchants with hardware (Square Reader, Terminal) and software (Square for Restaurants, Retail), though at vastly greater scale.
• Clover Network: Fiserv-owned POS hardware and software ecosystem that Paytek resells. Comparable as a competitor for SMB merchant mindshare; Paytek's differentiation sits in pricing and service rather than the platform itself.
• Stripe: Global online payments infrastructure provider competing with Paytek's Converge gateway and Paytek Web e-commerce offerings for Canadian SMBs taking card-not-present and online payments.

Emerging players

• Shopify: Canadian-headquartered e-commerce and payments platform. Competes with Paytek Web for SMB e-commerce merchants and provides its own integrated payment processing (Shopify Payments).
• Toast: Restaurant-focused POS and payments platform with integrated payment processing. Comparable to Paytek's Clover Dining / Talech Restaurant stack for full-service restaurants, though primarily US-focused.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/PaytekSolutions
• LinkedInlinkedin.com/company/paytek
• Instagraminstagram.com/paytek.ca/?hl=en

Compliance3 records

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 Paytek