Helcim Review: Low-cost, High-volume Payment Processing

Helcim has interchange-plus pricing, with rates broken into seven tiers, adjusted based on a three-month rolling processing average of all your card processing volume. Higher-volume businesses will automatically get lower rates. This is ideal for scaling businesses, as you don’t have to regularly renegotiate with your payment processor to ensure you’re getting the best rates for your current growth stage.

There are no fees for setup, PCI and non-compliance, cancellation, bank deposit, or customer service. Chargeback fees are $15, and Helcim will reimburse you if you win the dispute. Deposits are made in one to two days.

According to Helcim, the average processing fee for card-present transactions is 1.92% + 8 cents, while the average processing fee for card-not-present transactions is 2.38% + 25 cents.

Other fees include:

• Domestic ACH/Wire Transfers: 0.5% + 25 cents, $5 return fee

Helcim users who signed up after June 2020 will be using Helcim’s new card reader instead of getting integrated Ingenico and Poynt smart terminals. The Helcim card reader costs $109 per unit and allows merchants to accept swipe, chip, tap, and keyed-in card payments. It holistically integrates with your Helcim account to centralize all your data.

The Helcim card reader connects to your smartphone, tablet, or computer, along with Helcim’s payments app, to create a fully functional POS system. This is helpful because you can bring your own devices. It also comes with a dock that connects to a countertop POS for storefront use.

Pair your Helcim card reader to your computer, smartphone, or iPad for a flexible storefront payment setup. (Source: Helcim)

Chip & PIN	Interac Debit & PIN	Tap & Go	Contactless
Purchase Helcim Card Reader

Helcim does not have long-term contracts, so you won’t have to worry about being locked into pricing and fees. However, it does have terms of service as with any pay-as-you-go merchant services provider. It mentions that while you can immediately gain access to your merchant account, Helcim has the right to request additional information about your business from you or third parties, such as credit reporting agencies, and cancel your account at any time.

Other stipulations include right and responsibility over account access, payment services chargebacks, establishment of reserves (in some cases), and data security, among others.

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Helcim conducts a strict application process that’s better suited for established businesses. Startups and microbusinesses will find alternative payment processors like Square and PayPal with no approval process a more ideal option.

Signing up for a Helcim merchant account starts by visiting the website and completing the sign-up form. Note that the system will require you to set a strong password before you can proceed with your application. You will then be required to provide your business information and payment processing information.

Visit the Helcim website and click on the “Get Started” button to sign up for a Helcim account. (Source: Helcim)

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Provide your business and payment processing information to complete the application process and get access to your merchant account dashboard. (Source: Helcim)

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If you have all of your information ready, it will only take you a few minutes to complete the application. However, unlike with other popular payment processors such as Square and Stripe, you won’t be able to access the dashboard unless you complete the signup process. Underwriting and approval time will depend on your sales volume and Helcim’s risk assessment in providing you with a merchant account.

Helcim invoicing provides tools for creating and managing online payments. It is fully integrated with your merchant account, making it easy to send out and keep track of outstanding invoices. It also gives a wide range of customization options, including designing templates, providing multiple payment options for your customers, and setting up alerts. An invoice theme designer lets you customize the content of your template and add branding that suits your business.

Considering the available invoicing functionalities for its customers, Helcim’s invoicing features are comparable to top payment processors like Stripe but have the advantage of being more affordable (Stripe charges 0.4%–0.5% per paid invoice, while there’s no extra charge for Helcim). It lets you create estimates and quotes, and can automatically reconcile your accounts receivables. You can also add a payment button for customers who would like to make payments immediately.

Online invoicing allows a wide range of customization to track, manage, and reconcile invoiced transactions. (Source: Helcim)

If you run a subscription retail business, Helcim’s recurring billing payments feature will allow you to set up unlimited subscription plans and customize your pricing with add-ons and free trials. You can then add or edit an existing recurring invoice and track those changes from your merchant platform.

Like Stripe, Helcim also offers a customer portal feature where subscribers can log in to sign up and manage their own subscriptions. You can also provide customers with a customized quote from your website or send it via email with a Subscribe button that takes them to the portal. This feature is included in Helcim’s merchant account subscription at no extra cost.

For comparison, Stripe will charge you 0.5%–0.8% per paid invoice for its subscription billing and payment services. Fattmerchant’s billing and subscription software is only available for an additional monthly fee. Square offers a free invoicing tool with recurring options, but no subscription management or customer-facing portal.

Create a customized hosted customer portal and allow users to manage their own subscription settings at no extra cost. (Source: Helcim)

Helcim Bank Payments or ACH payments allow you to collect payments directly from your customer’s bank account. Helcim will let you accept ACH payments through online and recurring invoicing, subscription management, payment requests, and virtual terminals. You can accept ACH payments for up to $25,000 per transaction; they will be deposited into your bank within four business days.

With an ACH payment method, you can add, delete, or update customer banking information on their profile. (Source: Helcim)

Haven’t received your card reader yet? Helcim lets you accept payments over the phone by logging on to the virtual terminal platform from any computer, tablet, or smartphone without sacrificing security. You can manually key in your customer’s card information or (for frequent customers) search for their profile in your system. Virtual terminals can be set up for accepting one-time and recurring payments. For businesses selling globally, you can configure your virtual terminal to accept multiple currencies.

Helcim virtual terminal allows you to securely accept payments from any computer or mobile device. (Source: Helcim)

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Accepting multiple currencies on your virtual terminal is a new feature offered after Helcim’s 2020 software update. (Source: Helcim)

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Helcim offers both Level 2 and Level 3 credit card data processing for B2B merchants. Access to Level 2 is available for all Helcim merchant account holders, while Level 3 is reserved for their merchants accepting Corporate, Purchasing, and Government credit cards. Helcim’s virtual terminal automates most of the data entry steps for completing these types of transactions. They also provide training and detailed instruction for their subscribers.

With a borderless payment processing feature, Helcim is a strong platform for global businesses. It provides the tools for accepting international credit card payments online. Your customers will be charged, and you will receive payments in your local currency, so you don’t have to maintain a foreign currency account to expand your business.

It’s important to note that the 1%–3% international service fee is a bank fee and not a Helcim charge. However, not all issuing banks apply these fees, so if your sales are composed primarily of international transactions, contact your bank to find out the possibility of removing this fee or search for an issuing bank that does not apply this fee. See our recommended small business checking accounts to find one that suits your needs.

Helcim provides a built-in website builder to set up your own online store. It’s fully hosted by Helcim and very customizable, with templates and a drag-and-drop interface so that you can have your website designed in minutes. You can upload your existing product catalog, add a blog, and integrate Helcim’s payment processing tools, so you get faster access to your funds. On top of a website builder, Helcim also offers a fully hosted online food ordering app for restaurant businesses.

Not many payment processors and merchant account service providers include built-in ecommerce tools with options for Facebook and Instagram integration—and at no extra cost. You may find ones with multiple ecommerce integration options, such as PaymentDepot and Stripe, but chances are, some would require separate fees. Square is our only other recommended payment processor that comes with free online sales tools.

Helcim includes a built-in online food ordering app that allows you to take delivery requests and accept card and contactless payments. (Source: Helcim)

Helcim’s hosted payment pages are highly customizable without being too complicated to set up. You don’t need any coding skills to build a great-looking checkout because Helcim provides a payment page wizard tool that lets you build from templates with simple customization options and add more functionality for a better checkout experience, such as shipping and additional payment options.

You can also embed your custom checkout page with a Buy Now button on existing websites, or even as QR codes you can share via email or social media.

Leading providers like Square and Stripe also provide these features free of charge but Helcim manages to combine the easy setup of Square with Stripe’s robust features. Like Stripe, Helcim’s payment pages can be customized to adapt languages, currencies, and local taxes but does not require complex coding skills to complete.

However, also like Stripe, Helcim is better suited for businesses with large-volume sales and not small merchants. Square is our highly recommended alternative for small businesses looking for free ecommerce features.

The payment page wizard and custom data fields make Helcim’s payment pages versatile and easy to manage. (Source: Helcim)

Helcim’s recent upgrade includes the payment app and card reader. The payment app can be downloaded to a desktop or Android or iOS mobile device and accessed from the Helcim card reader. It’s easy to download and install, with guides available on the Helcim website and within the app itself. However, it’s not compatible with Chromebook or Windows 7 operating software.

The Helcim payment app is available in desktop, tablet, and smartphone versions. (Source: Helcim)

Helcim includes a fully integrated free POS software that you can run on any countertop, tablet, or smartphone. You can connect Helcim’s card reader to start accepting payments. This software includes features that let you upload, track, and manage inventory, store customer information with its customer relationship management tools, and manage employees.

When integrated with Helcim’s ecommerce and online ordering system that includes social media selling and shipping tools, it creates a complete multichannel sales platform with no extra cost.

Not a lot of merchant services providers include built-in free POS software. Square stands out but caters to small businesses, whereas Helcim is best for larger sales volumes. More importantly, the POS system also includes an inventory management feature that can handle large volumes of inventory and automatically syncs your data on all platforms.

Helcim’s integrated POS system is free and can sync large-volume inventory data for seamless online and in-person sales. (Source: Helcim)

Helcim’s online customer management features provide you with tools for enhancing customer experience. It keeps you in touch with customers from the moment they make a payment or sign up for a subscription. You can build customer profiles to use for faster payments, customized campaigns, and purchasing habits analysis for building loyalty programs. You can also bulk upload customer lists for faster setup.

Most payment processors include a built-in customer management feature, but not all of them include a hosted customer portal, which is something that large businesses need to effectively manage their client list. Like Stripe, Helcim’s customer portal tracks customer profiles and purchase history, but Stripe requires the use of its Billing system, which imposes extra cost per transaction.

Add, delete, update, or merge customer records easily on Helcim’s customer management tool. (Source: Helcim)

Fraud protection is important for merchant service providers, especially those that cater to large businesses with global customers. Helcim has ecommerce automatic protection settings that void transactions based on your acceptable address verification and risk assessment settings.

The Fraud Defender is a program that estimates transaction risk and scores it using several criteria such as IP address, shipping and billing location, and card security code, among others. A tokenized and encrypted card vault lets you store your customer’s credit card and bank information and use it to securely complete transactions.

Helcim’s fraud protection tools are comparable to Stripe, mainly because they cater to similar clientele. However, Stripe’s security measures are highly customizable because it provides a lot of developer-friendly features.

That said, Helcim also supports JavaScript-based payment security functionality alongside the Helcim API, which allows you to securely embed payment pages on your website. It comes with a code-generator tool so creating the lines of code will be easier; data is stored on Helcim’s servers so you don’t have to worry about PCI compliance.

Helcim’s Fraud Defender lets you automatically approve or decline transactions based on the calculated risk factors above. (Source: Helcim)

Helcim’s merchant account dashboard allows you to customize your profile settings with a few simple clicks. It also lets you customize the look and feel of your dashboard by having the option to pin the tools that you use the most on the screen.

Pin your most-used Helcim merchant management tools on your dashboard with a few clicks of a button. (Source: Helcim)

One of Helcim’s downsides has been limited integration, but it has since developed a number of built-in add-on features such as its POS system, customer management, and ecommerce tools. You can also still access platforms like Magento, Rezgo, WooCommerce, WHMCS, and Ecwid for ecommerce and Vend for POS.

QuickBooks is also available for preparing financial records and automating your payroll process. It integrated seamlessly with Helcim’s POS system, which includes an employee management feature. That said, Helcim can still benefit from more back-office business integration options in the future.

Developer-friendly APIs go beyond payments. They also let you integrate the Helcim features in your account with your choice of POS system or develop a fully customizable and flexible platform with Helcim’s payment gateway to improve security and boost authentication tools. You can also add more payment options and even design customized report-generation functions to support your business.

Improved chargeback management is also included in Helcim’s upgraded system. You can find a dispute resolution management system under the My Business tab in your Helcim account. This will show you any chargeback raised against your transactions, such as the amount, description, type, chargeback date, response due date, and the status of the dispute.

You can view chargeback details and accept the chargeback or upload supporting documents to counter the dispute. (Source: Helcim)

If you hit a snag, Helcim’s support center is stocked with a comprehensive library of troubleshooting content. If you need more hands-on help, you can reach out to a customer service representative via phone and email.

We recommend Helcim for established businesses with monthly sales volume of at least $25,000. This ensures that merchants can maximize the discounted rates and free payment processing tools that Helcim has to offer.

You can use Helcim to accept payments online or remotely by setting up a free ecommerce store, processing payments over the phone with a virtual terminal, or sending payment links to your customers. You can also accept payments in person with Helcim’s mobile credit card reader.

Apart from offering interchange-plus transaction rates, Helcim provides its users with automatic, volume-based discounted pricing. This means your monthly transaction rates are based on your sales volume, so you immediately get the discounted rates. Other merchant service providers will require you to submit a request to evaluate your sales volume before approving lower transaction fees.

Card payments usually take one to two business days, while ACH payments take three to four business days for the funds to be available in your bank account.