Payfirma Updates Mobile Payment Terms: 1.99% plus $0.25 Per Transaction

Two weeks ago we talked about Payfirma, a new Vancouver-based mobile payment company created to work with the iPhone and iPad. Due to our coverage and also the increased competition from fellow rival Kudos payments, Payfirma has stepped up and lowered their rates and fees across the board.

This news comes straight from Payfirma’s CEO, Michael Gokturk:

The new rates are 1.99% and 25 cents per transaction and that’s it! No setup fee, no monthly fees, no app fee – nothing! Just pay when you swipe.

The fee has been reduced from 2.50%. Payfirma can be used without a swiper, as credit card numbers can be entered right within their iPhone app. Swipers cost $99, but are free to accounts with $500K in volume.

Kudos Payments costs $49.99 to setup, but that includes a terminal and both merchant and POS software. Transaction charges are 2.90% + $0.20.

Great to see Canadians now have some viable mobile payment options, right from their iPhones. Click here to sign up for Payfirma.

Founder and Editor-in-Chief of iPhoneinCanada.ca. Follow me on Twitter, and @iPhoneinCanada, and on Google+.

  • beavisaur

    on their website it says there is a $10/mth statement fee. 

  • Luca

    I dont get the point just type in the credit card code on the stuff you wana buy and there u go just like old times no need for this stuff no need to buy anything to use ???? 

  • Onassis Xavier

    Since Payfirma us associated w Firstdata as a reseller. Opt out of the statements, and sign up at http://www.myclient.com.

    This is a Firsdata online reporting tool, allowing you to view credit details reports and trends of your monthly processing

  • Onassis Xavier

    Since Payfirma us associated w Firstdata as a reseller. Opt out of the statements, and sign up at http://www.myclient.com.

    This is a Firsdata online reporting tool, allowing you to view credit details reports and trends of your monthly processing

  • Onassis Xavier

    Since Payfirma us associated w Firstdata as a reseller. Opt out of the statements, and sign up at http://www.myclient.com.

    This is a Firsdata online reporting tool, allowing you to view credit details reports and trends of your monthly processing

  • Harry B

    I just joined Payfirma. The only fees I’m paying are the transaction ones. They’re cheaper than the other mobile payment companies, no $1,300 machine to buy or rent and no fees to Rogers. Plus my Telus service works everywhere, whereas even in Canada’s capital region, Rogers can be spotty.
    I agree though that you don’t need the swiper. Set up was instant, the batches close automatically and the money appears in my account within about 48 hrs.
    Recommended!!

  • Ex

    How are you avoiding the monthly fee?

  • Fordomaitc69

    I only sell Amsoil in the Summer to my motorcycle riding club and am getting dinged $40 per month in fees because I am not selling in the winter ($15 for MC, $15 for Visa and $5 X 2 for not selling).  I decided to cancel the service and they want $350 to cancel.  Anyone who decides to not use the service is going to get dinged $350 to cancel!!!  Inquire for yourself.