Helcim Review 2024: Features, Pricing, Alternatives, and More

As far as merchant services providers go, Helcim merchant services offer fair and transparent pricing and include a lot of useful features. If you are a high-risk or low-sales volume merchant, however, it may not be the right choice for you. In this article, we’re going to do a deep dive into a Helcim review. You’ll walk away with an understanding of the pros and cons of Helcim credit card processing, including rates and pricing, features, hardware, integrations, how it stacks up against competitors, and whether or not it’s the best choice for your business. We have a lot of content for you, so let’s get into it.

Helcim Credit Card Processing and Merchant Services

One of the reasons Helcim is building a reputation in the industry is that they offer tiered pricing options that get smaller (i.e., cheaper) the more you process. This is a relatively innovative approach to account pricing—not something you’ll see offered by many other providers. Additionally, they use Interchange Plus as their base account pricing model, which is the most transparent pricing model available today. 

Helcim is also a full-service merchant services provider. This is in contrast with payment service providers like PayPal, Square, or Stripe. Payment services providers (PSPs) act as intermediaries between you and a merchant account instead of underwriting your own merchant account. Full-service merchant service providers, like Helcim, on the other hand, put in their due diligence upfront to give you a better service in the long term – giving you your own dedicated merchant account. 

Helcim Pros and Cons

When looking at a merchant services provider like Helcim, it can be incredibly helpful to have a succinct list of pros and cons to reference. Let’s take a look:

Helcim Pricing: Costs, Fees, and Rates

Next, let’s talk about Helcim pricing. In contrast to what has turned into the industry norm, Helcim offers transparent pricing. Competitors that have popped up on the landscape over the past decade or so (companies like Stripe and Square) offer what is known as a flat rate pricing structure. 

While this flat-rate pricing structure is nice for many merchants because it’s simple and predictable, it is simultaneously the least transparent pricing structure on the market today. Some industry context is important to explain why that is the case. 

The payment processing industry has rates and fees that are set by card-issuing banks (like Wells Fargo and Bank of America) and card brands, including Visa, MasterCard, and Discover. These rates and fees are standard. This means that regardless of what payment processor you choose, these rates won’t change. As such, there is only a small amount of wiggle room (generally) for pricing your account between multiple payment processors. 

When priced on a flat rate pricing structure, it’s impossible to know how much profit the payment processor has built into your account. By bundling it all into one rate, the margin is undefined. With the interchange plus pricing structure that Helcim uses, all of the rates and fees charged are transparent and easy for you to see. They also offer a disclosed markup on your account, so you know exactly how much they make for processing transactions on your behalf.

As we’ve touched on, Helcim offers pricing based largely on volume. Additionally, there are differences between the price you’d pay for in-person transactions versus manually entered or online/remote transactions. Regardless of how or where you process, however, Helcim uses interchange plus pricing. As we touched on in the section above, this is the most transparent pricing structure. 

The basis point markup is essentially the bulk of the profit they make on your account. This transparency tends to translate to lower out-of-pocket fees for merchant accounts priced with it. Additionally, since this is a full-service merchant services provider, you also get a better experience than you would from competing third-party payment service providers like PayPal, Stripe, and Square.

With Helcim, you can accept the following types of payments:

• Debit cards
• Credit cards
• ACH payments
• International payments
• Mobile wallets using NFC technology like Apple Pay and Google Wallet

According to the Helcim website, the average rate merchants pay for in-person payment processing is 1.93% and $0.08 for the transaction. Manually keyed and online transactions, on the other hand, you can expect to pay an average of 2.49% and $0.25 for the transaction.^[1]Helcim. “Save Money on Merchant Fees | Helcim Pricing.” Accessed on November 8, 2024. 

Here are the rates and fees for debit and credit cards broken down by tier:

Tier	Volume (Monthly processing)	Manually-Keyed Rate (In person, over the phone, or online)	In-person Rate (Swiped, Dipped, or Tapped)
1	$0 – $50,000	0.50% + $0.25 (+ Interchange)	0.40% + $0.08 (+ Interchange)
2	$50,001 – $100,000	0.45% + $0.20 (+ Interchange)	0.35% + $0.07 (+ Interchange)
3	$100,001 – $500,000	0.35% + $0.20 (+ Interchange)	0.25% + $0.07 (+ Interchange)
4	$500,001 – $1,000,000	0.25% + $0.15 (+ Interchange)	0.20% + $0.06 (+ Interchange)
5	$1,000,001+	0.15% + $0.15 (+ Interchange)	0.15% + $0.06 (+ Interchange)

Additionally, you can accept ACH payments for an industry-competitive 0.50% and $0.25 per transaction (capped at $6 per transaction). International credit card processing is also available, but you will have to set up the option through Helcim separately. They do not charge additional fees for international transactions; however, the interchange rates for international transactions may be higher than those for standard transactions.

Helcim Features, Hardware, and Integrations

As you may have noticed, Helcim’s pricing is relatively transparent and competitive. The rates and fees listed above in the aforementioned table are Helcim’s entire profit margin, so you know exactly how much they will make processing your transactions.

But what about their features, hardware, and available integrations? These are the key questions to determine how Helcim will fit into your business environment. Without sufficient features, hardware, or integrations, your merchant services solution may feel flat. So, let’s dive into Helcim’s options.

One of the unique things about Helcim is that they offer an online store service free of charge. You can either connect it to your existing website or use it as a fully functional online store in place of a separate website for your business.^[2]Helcim. “Start selling online for less.” Accessed on November 8, 2024. 

You can use their online store payment tools to handle food delivery service transactions, an online retail store, nonprofit donations, recurring subscriptions, registration fees, and other types of recurring charges. One of the most commonly used payment gateways is Authorize.net, which is a payment gateway-only service that can easily integrate with Helcim ^[3]Helcim. “Understanding Payments: A Merchant’s Guide to Credit Card Processing.” Accessed on November 8, 2024.

Helcim also offers a virtual terminal that runs on any Internet-connected device, including tablets, smartphones, and personal computers. A virtual terminal is essentially an online version of the physical credit card machine, also known as a terminal, that operates without a physical device. All you need is a browser that is connected to the Internet.

If you operate an in-person business like a retail store or restaurant, for example (i.e., a business where customers come into a brick-and-mortar business location), hardware becomes a key question. What point-of-sale options does Helcim offer for in-person transactions? Let’s take a look:

When you operate a business that sees its customers face-to-face, you want a payment solution that fits within your business environment and is quick, reliable, and secure. Helcim offers a few options for this, including:

• Compact Reader. For $109, you can buy a card reader that is both EMV capable (also known as chip-enabled) and NFC compatible (also known as tap-enabled) and allows you to accept most debit and credit cards. It is compact and offers a lot for its size, but it lacks a lot of functionality beyond simple payments that most businesses will want.
• Standalone Terminal. Helcim offers a $329 more robust physical card reader with a built-in thermal receipt printer and some smart functionalities. These include the ability to accept payments, keep track of inventory, and gather some analytics.
• A custom payments app. If you download the free Helcim payment app onto your computer, laptop, tablet, or mobile phone, you can customize the checkout experience you get from your devices. You can partner this workstation with one of the Helcim terminals to get the most out of each device.^[4]Helcim. “Sell smarter with our free POS system.” Accessed on November 8, 2024. 

A handful of third-party software options integrate with Helcim, making it easy to connect it to your existing setup if you use these tools:

• QuickBooks
• Xero
• WooCommerce
• Foxy.io
• Great Exposure

Helcim Alternatives

All in all, Helcim is a solid and reputable choice for your payment needs if it works for your business. The platform has a transparent interchange plus pricing model, and its fees decrease when your business sells higher volumes. You’ll get access to a wide array of business tools in your account and there are no termination fees and no long-term contracts. Helcim offers a full-service merchant account and refunds any chargeback fees if you win the dispute.

But that does not mean it is the only solid or reputable choice or necessarily the best one for your needs. 

Next, let’s talk about alternatives to Helcim and how they compare. To evaluate each of these options, we will discuss the differences in pricing, fees, contracts, integrations, equipment, industries served, customer service, etc., as they apply. Let’s dive in.

Both Helcim and Payment Depot are reputable providers in the space. First, let’s talk pricing. Payment Depot uses a monthly membership model, meaning they charge a monthly fee for credit card processing. This is in contrast with Helcim, which charges the true pass-through interchange fees with a disclosed markup.

They also differ in how volume affects price because where Helcim decreases the rate as your business grows, Payment Depot, on the other hand, increases the subscription rate as your business grows.

Next, let’s talk equipment. Helcim offers two pieces of hardware that integrate with its free point-of-sale software. Payment Depot, on the other hand, offers a range of equipment, including card readers, terminals, and more, designed to integrate with its service. Payment Depot also offers more third-party integrations that allow businesses in specific industries to meet more of their needs with their payment system. These include integrations with companies like First Data, Clover, and Dejavoo.

Payment Depot also specializes in certain industries, including restaurants, retailers, hair salons, beauty salons, pet groomers, and medical offices. Helcim does not target businesses in the same way but serves many of these verticals as well.

For customer service, both Payment Depot and Helcim have great reviews from prior customers.

Stripe is a payment services provider like Square and PayPal. As we have touched on in this article, a payment services provider (PSP) offers an entirely different service than a merchant services provider (MSP), even though they are commonly confused with one another. 

Both MSPs and PSPs allow you to accept payments from your customers, but a payment services provider limits you to a shared merchant account. What this means is that instead of directly accessing an account tied to your business and processing habits, you operate through an intermediary using their account. This adds a layer of restriction and usually comes at a premium price point (which they justify by selling the convenience of setting your account up quickly). 

Helcim, on the other hand, is a full-service merchant services provider (MSP). This means they set up a merchant account custom-made for you and your business based on your processing history, habits, and needs. Surprisingly, this usually comes at a price discount compared to payment service providers like Stripe. When comparing Helcim to Stripe, the average business pays more using Stripe. 

• Average cost for merchants using Helcim: 1.93% and $0.08 for the transaction
• Average cost for merchants using Stripe: 2.90% and $0.30 for the transaction

For e-commerce merchants, Stripe may offer a more robust setup. This is because Stripe is designed with web developers and programmers in mind. Its open API allows large companies to customize Stripe to their liking. 

As far as customer support goes, both Stripe and Helcim seem to have positive reviews.

As we have touched on a few times in this article, Square is a payment services provider. This means that they offer you access to their shared merchant account instead of doing the upfront work to underwrite your own merchant account. 

In practice, this means that your processing account may be subject to additional withholdings, freezing, or shutdown, with little to no actionable recourse on your end. That’s because, without the upfront legwork, they are unfamiliar with your business and processing habits. As such, they are quick to assume foul play to reduce their risk exposure. 

Additionally, they charge a flat rate for their services. People tend to like the stability of a consistent flat rate, but as we explored earlier in this article, a flat rate is not transparent and tends to cost more.

As far as equipment goes, Helcim charges a one-time fee to purchase their equipment but offers supporting software and tools at no additional charge. Square, on the other hand, charges nothing for the initial equipment but tacks on fees for additional features and functionality you may want to use.

For customer service, PSPs tend to offer inferior customer support because (generalizing them) it can be hard to get someone on the phone or to answer an email. Instead, you tend to rely on chatbots and support forums instead of one-on-one personal support. As such, Square seems to have a reputation for being hard to work with and for poor customer service. Helcim has positive reviews in this regard.^[5]Better Business Bureau. “Square, Inc. | Reviews | Better Business Bureau® Profile.” Accessed on November 8, 2024. 

There are a lot of pros for both Helcim and Shopify. When comparing the two, here are the things that stand out.

Pricing between the two is one of the major differences. Shopify uses the same flat rate pricing model as other payment service providers popularized. The base credit card rate for a Shopify account on their basic plan is 2.90% and $0.30 for the transaction if processed online and 2.70% and $0.00 for the transaction if processed in person. The average cost for merchants using Helcim in person is almost a full percent less at 1.93% and $0.08 for the transaction.

For equipment, Shopify primarily operates online, so its most robust equipment options are available through its online gateway. To have a Shopify website, you will pay a base rate of $39 per month, which gives you access to the basic storefront, inventory management, and payment gateway. You will also have to pay for each card processed through that gateway at the aforementioned rates. 

Helcim, on the other hand, also offers a free storefront that connects to its payment gateway. So, unless you purchase in-person processing equipment, you will only be responsible for paying the processing rates. Functionality-wise, however, Shopify offers a much more robust suite of integrations and customization options for e-commerce businesses specifically.

Both Helcim and Shopify rank highly for customer support.

Both Helcim and PayPal offer great services for your business. Let’s discuss.

When using PayPal as a retail store that also has an online shop (in other words, an omnichannel experience/setup), you will use PayPal Zettle and PayPal together.

Pricing between PayPal and Helcim are as follows:

• Rate you’ll pay for in-person payments with Helcim: 1.94% and $0.08 per transaction on average.
• Rate you’ll pay for in-person payments with PayPal Zettle: 2.29% and $0.09 per transaction.

Keyed payments (online, recurring billing, or manually entered card numbers):

• Helcim average rate for keyed payments is 2.51% and $0.24 per transaction.
• PayPal rate for keyed payments is 3.49% and $0.09 per transaction.

Equipment-wise, PayPal Zettle offers more robust options than Helcim. They offer terminals, card readers, smart printers, iPad stands, cash drawers, barcode scanners, and more.

For customer service, both PayPal and Helcim are trusted names, but PayPal has far more dissatisfied customer reviews overall than Helcim.^[6]ConsumerAffairs. “PayPal Reviews.” Accessed on November 8, 2024. 

Dharma Merchant Services shares many similarities with Helcim, including pass-through interchange pricing, similar tools, and equipment (like access to a virtual terminal and online reporting), no contracts, etc. 

Here’s what to know as we compare the two:

Both use the same base structure of Interchange Plus for pricing, which is, as we’ve mentioned, the most transparent structure. Dharma does not disclose its markup, instead requesting that businesses interested in processing with them reach out for a full quote. So, while we can’t evaluate pricing on an apples-to-apples level, both offer the (arguably) best pricing structure.

For equipment, Dharma offers a lot of terminal options for retail merchants, including the Ingenico Desk 3500, First Data, FD-150, the VeriFone Engage V200 C, and more. Dharma also integrates with many point-of-sale systems you may be familiar with, including Clover POS and anything built on the First Data or TSYS platforms.^[7]Dharma Merchant Services. “Terminals.” Accessed on November 8, 2024. Overall, both companies have robust options for any small to midsize business.

While both Helcim and Dharma have great customer service reviews, Dharma Merchant Services has a clear edge over the competition, with a consistent 4.5 or higher rating on customer service across platforms.

Finally, let’s compare Helcim and Moneris. Moneris is one of the oldest and most popular payment processors, so let’s see how it compares to Helcim.

One of the first notable differences between the two companies is that Moneris starts with a standard 3-year contract. This is in contrast with Helcim, which offers a month-to-month plan. This means that there are cancellation fees if you decide to close your account with Moneris before the 3-year term ends.

Next, let’s talk pricing. Moneris also uses the transparent interchange plus pricing structure, but, like Dharma, they do not disclose their markup. Instead, interested businesses must reach out to them for a formal quote. Generally, however, you can expect to pay around the same as you would with Helcim. So, pricing here is not much of a differentiator. One of the major differences in pricing, however, is that Moneris charges monthly fees, whereas Helcim does not.

For customer support, Moneris offers a lot of options for outreach to customers. However, reviews of Moneris reveal that this doesn’t mean issues get resolved. There are many reviews citing things like “unexpected or excessive cancellation feels, hidden per-transaction or monthly fees, unexpected renewal of contracts, broken promises of refunds and rebates, and difficulty resolving problems through the companies customer service.”^[8]Card Payment Options. “Moneris Reviews & Complaints.” Accessed on November 8, 2024. 

Is Helcim the Best Choice for Your Business?

Helcim is a solid and reputable merchant services provider. You get access to a wide array of business tools with your account. There are no termination fees and no contracts, so there’s no commitment. Helcim also offers a full-service merchant account and refunds any chargeback fees if you win the dispute. The platform offers transparent interchange plus pricing and decreasing fees for those that sell at higher volumes.

However, it is not the best choice for everyone. If your business processes under $100,000 per month, there may be better options to suit your needs. Because Helcim offers discounts for more volume, those who process less pay more on average. This 0.45%-0.50% basis point markup may price them above other merchant service providers.

If you operate a business that has complicated equipment needs, like front and back-of-house connected devices, appointment scheduling, and customer relationship management, you may be better suited with a credit card processing solution that integrates with a full-service point-of-sale system catered to your industry.

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