Square is often considered the go-to solution for mobile payment systems, but it has two shortcomings that could limit its uptake in Canada. Debit (via Interac) and Chip-and-PIN technologies are very popular here, and Square supports neither. As a result, there’s more of a competition opportunity here than there might be in the US.
Two competitors - Moneris and Chase - are big names in payment processing, and they are trying to get in on the mobile payments action in a big way. Intuit, a third competitor, is a very big name in accounting, and also wants a stake in the mobile payments arena.
If you’re considering getting a mobile payment device for your sales efforts, whether you run a street vendor booth or a full retail location, you should explore the pros and cons of each choice.