Stripe is one of the most widely used payment processors in the world, known for its developer-friendly APIs, customizable checkout flows, and support for online businesses of all sizes. It enables companies to accept Stripe payments in Canada through credit cards, digital wallets, and recurring billing. While Stripe is available in Canada, many Canadian entrepreneurs and small businesses find Stripe fees in Canada relatively high especially with standard processing fees of 2.9% + 30¢ per transaction and additional costs for currency conversion or international cards.
For growing businesses that need reliable yet cost-effective solutions, it’s worth exploring other options with lower fees, better local support, or features better tailored to the Canadian market. In this guide, we’ll introduce the best Stripe alternatives in Canada, comparing their pricing, features, and performance to help you find the perfect fit for your payment processing needs. Keep reading to discover which platform suits your business best.
What is Stripe?
Stripe is a powerful online payment processing platform that enables businesses to accept payments directly through their websites, apps, or e-commerce platforms. Known for its developer-friendly APIs and seamless integration, Stripe is widely used by startups, SaaS companies, and large enterprises alike. It supports a wide range of payment methods, including credit cards, debit cards, digital wallets, and recurring subscriptions. Stripe’s customizable checkout options and extensive documentation make it a top choice for businesses looking to create a flexible and branded payment experience. It’s particularly popular among online merchants for its global reach and scalable infrastructure.
Is Stripe Available in Canada?
Yes, Stripe is available in Canada, enabling businesses to accept online payments through various methods, including credit and debit cards. While Stripe offers a robust platform with extensive features, Canadian businesses should be aware of the associated fees. For domestic card transactions, Stripe charges 2.9% + 30¢ per successful transaction. International cards incur higher fees, typically around 3.9% + 30¢ per transaction. Additionally, currency conversion fees may apply when dealing with foreign currencies. Given these costs, it’s prudent for Canadian businesses to explore other payment processing platforms that may offer more competitive rates or features better suited to their specific needs.
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Top 5 Alternatives to Stripe Available in Canada
While Stripe is available in Canada, its processing fees 2.9% + 30¢ per transaction for domestic cards and even more for international ones can add up quickly, especially for small businesses or high-volume merchants. Fortunately, several Stripe alternatives in Canada offer lower fees, faster transfers, and better-suited features for Canadian entrepreneurs, freelancers, and e-commerce sellers. Whether you’re looking to save on costs, improve cash flow, or simplify your payment operations, these alternatives provide flexible and secure options for handling online payments and money transfers. Below, we explore five trusted alternatives that could be a better fit for your business.
PayPal
Overview:
PayPal is one of the most widely used online payment platforms, trusted by millions of businesses and individuals worldwide. It allows Canadian businesses to accept credit card payments, issue invoices, and integrate checkout into websites without advanced coding. With PayPal Business, you can access additional tools like recurring billing, seller protection, and a built-in dispute resolution system. While PayPal is widely accepted and easy to set up, its transaction fees are similar to Stripe’s and may include additional charges for currency conversion.
Key Features:
- Easy website integration and invoicing
- Global reach with buyer/seller protection
- Recurring billing and subscriptions
Fees:
2.9% + $0.30 per transaction (domestic); 3.9% for international cards + currency conversion fees
Why Choose PayPal?
Great for businesses wanting global reach, reliable security, and a familiar payment option for customers.
Skrill
Overview:
Skrill is a digital wallet and payment gateway that supports online payments, international money transfers, and crypto transactions. While Skrill Canada is available, its high fees for certain transfers and limited customer service can be a drawback. Still, it provides a simple integration for accepting payments online and offers a prepaid Mastercard in some regions (not currently in Canada). For businesses that cater to international clients or want to combine payments and transfers under one platform, Skrill can be a useful—though costlier—tool.
Key Features:
- Supports over 40 currencies
- International money transfers
- Digital wallet with crypto trading options
Fees:
2.99% for sending money; 3.99%+ for currency exchange; account inactivity fees may apply
Why Choose Skrill?
Useful for international business and digital goods, but better suited for businesses that prioritize cross-border operations over domestic volume.
Neo Financial
Overview:
Neo Financial is a Canadian fintech platform offering high-reward credit card processing and savings solutions. While not a traditional payment processor like Stripe, Neo partners with merchants to offer integrated payment experiences through its Neo Commerce solution. It’s best for Canadian businesses looking to drive loyalty and increase customer spending by offering cashback incentives through Neo’s platform. The service focuses more on customer engagement than just payment processing and is ideal for businesses with physical or online stores looking to boost return visits and reward spending.
Key Features:
- Up to 5% cashback for customers
- Merchant partnership programs
- Neo credit card acceptance
Fees:
Custom pricing based on business type and volume; no monthly fees for customers
Why Choose Neo?
Ideal for Canadian businesses focused on growth, retention, and modern customer payment experiences.
OFX
Overview:
OFX is a global money transfer platform known for low-cost international payments, especially large-sum transactions. Though it doesn’t offer checkout tools like Stripe, it’s a great solution for Canadian businesses that send or receive money internationally. OFX offers no transfer fees and provides excellent exchange rates compared to banks and even some fintech competitors. With dedicated customer support and a focus on B2B services, it’s especially useful for companies dealing with cross-border payroll, supplier payments, or international client billing.
Key Features:
- No transfer fees
- Competitive FX rates
- 24/7 customer support and account managers
Fees:
No transfer fees; FX markup typically 0.4%–1.5%
Why Choose OFX?
Best for businesses making large or regular international payments and looking to save on currency exchange.
WorldRemit
Overview:
WorldRemit specializes in fast, flexible international money transfers, allowing users to send funds directly to bank accounts, mobile wallets, or for cash pickup. Although it’s designed more for individuals than businesses, some small businesses and freelancers use WorldRemit to pay overseas contractors or receive payments from abroad. Compared to Stripe’s fixed payment structure, WorldRemit offers more transfer flexibility, and its mobile app is easy to use. However, it lacks checkout tools, so it’s best used for side payment flows rather than core e-commerce processing.
Key Features:
- Fast money transfers to 130+ countries
- Supports cash pickup and mobile wallets
- Easy-to-use app and mobile interface
Fees:
Low fixed fees + small FX markup (~1%–2%) depending on destination
Why Choose WorldRemit?
A practical solution for small businesses or freelancers handling international transfers outside their primary sales platform.
Comparing the Best Stripe Alternatives for Canadians
If you’re looking for a more affordable or flexible payment processor than Stripe, you’re in the right place. Stripe is powerful, but its processing fees, international surcharges, and technical complexity may not be ideal for every Canadian business. Fortunately, several alternatives offer lower costs, faster transfers, or features better tailored to local and international business needs. In this section, we’ll compare the top Stripe alternatives in Canada, focusing on transfer costs, business suitability, and standout perks to help you make the best decision for your online store, freelance service, or global operation.
| Alternative Name | Best For | Cost to Send Money in Canada | Cost to Send Money to the U.S. | Extra Perk |
| PayPal | E-commerce & international payments | 2.9% + $0.30 | 3.9% + fees + FX markup | Built-in buyer protection and invoicing tools |
| Skrill | Digital services & global transfers | 2.99% | 3.99% + FX markup | Supports crypto & loyalty rewards (Knect program) |
| Neo Financial | Rewards-driven Canadian businesses | Custom rates | Standard FX fees | Up to 5% cashback for customers |
| OFX | Large-sum international transfers | Not applicable | 0.4%–1.5% FX markup | No transfer fees, 24/7 support for B2B payments |
| WorldRemit | Small-scale international payments | Not designed for CAD transfers | Fixed fee + ~1%–2% FX markup | Mobile wallet & cash pickup options |
FAQ
Which is safer, PayPal or Stripe?
Both PayPal and Stripe are highly secure, offering PCI-compliant encryption, fraud detection tools, and two-factor authentication. Stripe is preferred by developers for its customizable security settings, while PayPal is more user-friendly with strong buyer and seller protection built in. For most users, both platforms offer reliable safety, but the better option depends on your technical needs and use case.
What is the best alternative to Stripe for small business?
For Canadian small businesses, PayPal is a strong alternative due to its ease of use, global reach, and built-in invoicing tools. However, if you’re looking for lower fees and better international transfer rates, Wise or OFX may be better suited, especially if your business frequently deals with cross-border payments. Each alternative has strengths, so the best fit depends on your business model and customer base.
