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Card processing review

Helcim

Helcim's interchange-plus pricing with automatic volume discounts: in person, interchange + 0.40% + 8¢ up to $50k a month, down to interchange + 0.15% + 6¢ at the highest volume. No monthly, PCI, statement or batch fee, month-to-month with no cancellation fee, and an optional credit card surcharge (Fee Saver) at no extra fee.

By HelcimParent company: Helcim Inc. (private)

RTC SCORE

8.0

#1 of 16 with enough data

Our verdict

A fit for restaurants that want to see their markup and pay no fixed fees, with interchange plus that gets cheaper as volume grows and a credit card surcharge option. Less of a fit if you need your processor to plug into a restaurant POS like Toast or Square.

What we like

  • Published interchange-plus markup with automatic volume discounts: 0.40% + 8¢ in person up to $50k a month, lower above that.
  • No monthly, PCI, statement, annual or batch fee, and no cancellation fee: month-to-month.
  • Fee Saver credit card surcharge with no program fee: your customers pay 3% on credit cards and you keep paying the normal rate on debit. In person it currently works only on the Helcim Smart Terminal.
  • Next-business-day deposits at no extra cost when your bank is on the RTP or FedNow networks.
  • Its fees are published: a US fee disclosure, plus its American Express rates page and the Fee Saver terms. No lease: you buy the equipment.

What to watch

  • No integration with restaurant POS systems such as Toast, Square, Clover or Lightspeed is documented; in-person payments run on Helcim's own app and devices (or its terminal API).
  • Online and keyed-in payments carry a higher markup: 0.50% + 25¢ up to $50k a month.
  • Support isn't 24/7: phone Monday to Friday 7 AM to 5 PM and Saturday 9 AM to 5 PM, Mountain Time.
  • Its terms let it hold payouts or require a reserve at its discretion, and keep a reserve for at least 6 months after you leave.

How the score breaks down

RTC Score8.0out of 10

Methodology v0.1.0

Data completeness98%

We could verify 98% of the scoring data

Strongest points
12-month cost of the reference restaurant, What leaving in month 12 costs, Standard deposit speed
Weakest point
24/7 support

Score by criterion

  • 12-month cost of the reference restaurantWeight 37%Strongest8.9 out of 10

    $3,051 over 12 months

  • Standard deposit speedWeight 11%Strongest8.0 out of 10
  • What leaving in month 12 costsWeight 9%Strongest10.0 out of 10

    $0 to leave in month 12

  • Price increases during the contractWeight 8%7.0 out of 10
  • Published pricingWeight 7%10.0 out of 10
  • 24/7 supportWeight 6%Weakest0.0 out of 10
  • Contract termWeight 4%10.0 out of 10
  • Support channelsWeight 4%6.0 out of 10
  • No equipment lease you can't cancelWeight 3%10.0 out of 10
  • Works with restaurant POS systemsWeight 3%1.7 out of 10
  • Automatic renewalWeight 2%10.0 out of 10
  • Equipment works with another processorWeight 2%No data
  • Offers dual pricing or a surcharge programWeight 2%10.0 out of 10
  • Works without the vendor's own POSWeight 1%10.0 out of 10

Before you pass the card fee to your customers

This vendor offers a program that passes the card cost to your customers. Card network rules cap credit card surcharges (Visa 3%, Mastercard 4%) and never allow them on debit, and some states ban or limit them.

This is general information, not legal advice. Card network rules and state laws change, and how they apply depends on your business: check with a lawyer and with your processor before adding a surcharge or a cash discount.

See the rules by state

Current promotion

  • Buyout of your current contract

    Up to $500Source: Helcim (opens in a new tab)
    Conditions
    Credit on your Helcim processing fees for the cancellation or equipment lease termination fees your previous processor charges you, up to $500. You close the old account and send Helcim its final statement; the credit is usually applied within 1 to 2 billing cycles.
    Valid until
    The vendor publishes no end date. We take it down if we can't re-check it within 30 days.

Counts in the RTC Score only if our reference restaurant qualifies.

The switching or signing incentive is one of the criteria with the most weight in the RTC Score. We count a promotion only while it's current, with a fixed published amount and conditions our reference restaurant meets. "Up to" amounts, buyouts of your current contract and unpublished amounts don't count. The cost calculator subtracts one only when your numbers qualify.

Check it with your numbers

All the data, with sources

Each value links to its source. "Not published" means the vendor doesn't disclose it; "Unconfirmed" means we looked and couldn't confirm it. Data points we have for fewer than four vendors are left out until we can compare them.

Type of processor and pricing
Data pointValue
Type of processorInterchange-plus or subscription processorSource: Helcim (opens in a new tab)
Pricing modelInterchange-plusSource: Helcim (opens in a new tab)
Published pricing (points out of 100)100Source: Helcim (opens in a new tab)Same rubric for every vendor: in-person rate (25), online and keyed rates (15), markup and monthly fee (20), a stated $0 cancellation fee (20) and its other fees in a public fee disclosure (20).
Card rates
Data pointValue
In-person rate0.4%Source: Helcim (opens in a new tab)Markup over interchange up to $50k a month in card sales (3-month average); lower tiers above that.
In-person fee per transaction8¢Source: Helcim (opens in a new tab)
Online rate0.5%Source: Helcim (opens in a new tab)Keyed and online payments share Helcim's card-not-present markup, up to $50k a month.
Online fee per transaction25¢Source: Helcim (opens in a new tab)
Keyed-in rate0.5%Source: Helcim (opens in a new tab)Same card-not-present markup as online payments, up to $50k a month.
Keyed-in fee per transaction25¢Source: Helcim (opens in a new tab)
American Express pricingAmerican Express's cost plus a markupSource: Helcim (opens in a new tab)American Express's OptBlue rate plus Helcim's usual markup. Helcim also lists an acquirer network fee of 0.03% + 3¢ on every American Express payment, which our cost estimate leaves out (about $3 a month for our reference restaurant).
American Express rateN/ASource: Helcim (opens in a new tab)American Express doesn't have a rate of its own here: you pay its cost plus Helcim's markup.
Rates by monthly volumeIn person: interchange + 0.40% + 8¢ up to $50k a month; 0.35% + 7¢ from $50k; 0.25% + 7¢ from $100k; 0.20% + 6¢ from $500k; 0.15% + 6¢ from $1M. Online and keyed: 0.50% + 25¢; 0.45% + 20¢; 0.35% + 20¢; 0.25% + 15¢; 0.15% + 15¢. The tier follows your 3-month average volume; above $5M a month, pricing is by quote.Source: Helcim (opens in a new tab)
Monthly and other fees
Data pointValue
Monthly account or plan fee$0/moSource: Helcim (opens in a new tab)
Annual fee per account$0/yrSource: Helcim (opens in a new tab)
Annual fees per device or location$0/yr per deviceSource: Helcim (opens in a new tab)No yearly fee per device. Optional 4G data for a terminal costs $7 a month.
PCI compliance fee (yearly)$0/yrSource: Helcim (opens in a new tab)
PCI non-compliance fee (monthly)$0/moSource: Helcim (opens in a new tab)Helcim says it charges no PCI fees, and its fee disclosure lists no fee for not completing PCI compliance.
Statement fee$0/moSource: Helcim (opens in a new tab)
Monthly minimum$0/moSource: Helcim (opens in a new tab)
Fee per batch$0Source: Helcim (opens in a new tab)Inferred: Helcim doesn't say "no batch fee" in so many words, but the "Other Fees" table of its US fee disclosure lists no batch fee, and its statement guide shows only interchange, card network costs and Helcim's markup.
Chargeback fee$15Source: Helcim (opens in a new tab)
Other feesTap to Pay on iPhone: 10¢ per approved payment. Recurring payments: +0.4%. International cards: +1.45% (Visa, Mastercard), +1.30% (Discover), +1.00% (American Express). Level 2/3 data optimization: Helcim keeps 30% of the savings. Optional 4G data: $7 a month. ACH: 0.5% + 25¢ (capped at $6 under $25,000) and $5 per returned payment. American Express acquirer network fee: 0.03% + 3¢.Source: Helcim (opens in a new tab)
Equipment
Data pointValue
How you get the equipmentYou buy itSource: Helcim (opens in a new tab)The Smart Terminal can also be paid in 12 monthly payments of $32.
Price of a countertop terminal$349 one-timeSource: Helcim (opens in a new tab)Helcim Smart Terminal (countertop, with printer and 4G). The card reader costs $199.
Equipment lease you can't cancelNoSource: Helcim (opens in a new tab)
Equipment lease termN/ASource: Helcim (opens in a new tab)Helcim doesn't lease equipment: you buy it.
Equipment at $0 upfront: what it commits you toN/ASource: Helcim (opens in a new tab)Helcim doesn't offer equipment at $0 upfront: you buy the card reader ($199) or the Smart Terminal ($349, or 12 payments of $32).
Equipment only works with this processorUnconfirmedSource: Helcim (opens in a new tab)Helcim's POS app only works with Helcim hardware, but Helcim doesn't say whether its reader or terminal can be used with another processor.
Getting your money
Data pointValue
Standard deposit speedNext business daySource: Helcim (opens in a new tab)Next business day at no extra cost when your bank is on the RTP or FedNow networks and you close the batch by 7 PM Mountain Time; otherwise 1 to 2 business days. Your first batches take about 3 business days.
Instant payout feeN/ASource: Helcim (opens in a new tab)Helcim doesn't offer paid instant payouts; its fastest option is next-business-day Faster Deposits at no cost.
Holds and reservesHelcim's terms let it hold or delay payouts and require a reserve for any reason related to your use of the service, in an amount it sets and can change at any time, funded from your sales or your bank account. After the account closes it may keep a reserve for at least 6 months.Source: Helcim (opens in a new tab)
Contract and exit
Data pointValue
Contract termMonth to monthSource: Helcim (opens in a new tab)Month-to-month: you can close the account without a fee.
Automatic renewalMonth to monthSource: Helcim (opens in a new tab)Month-to-month, with no renewal term.
Notice to avoid renewal0 daysSource: Helcim (opens in a new tab)No renewal to opt out of.
Notice to cancel0 daysSource: Helcim (opens in a new tab)You close the account by calling support during business hours; no notice period.
Early termination feeNo early termination or cancellation fee.Source: Helcim (opens in a new tab)
How the early termination fee is calculatedNo early termination feeSource: Helcim (opens in a new tab)
Liquidated damages clauseNoSource: Helcim (opens in a new tab)
Price increases during the contractWith notice, and you can leave without a feeSource: Helcim (opens in a new tab)With at least 30 days' notice, and you can close the account without a fee. Card network costs pass through as they change.
Right to raise pricesHelcim can change its rates and fees with at least 30 days' notice on its platform; continuing to use the service after that accepts them. Card network fees change when the networks change them.Source: Helcim (opens in a new tab)
Personal guarantee by the signerYesSource: Helcim (opens in a new tab)Only if Helcim asks for it as extra security; it isn't a standard part of signing up.
Dual pricing and surcharges
Data pointValue
Dual pricing or surcharge programYesSource: Helcim (opens in a new tab)Fee Saver is a credit card surcharge. Its terms say that in person it currently works only on the Helcim Smart Terminal (Helcim's help center also lists the newest card reader). Helcim can adjust the customer's fee for some card brand and cross-border costs, and can change, suspend or end Fee Saver at any time, with or without notice. Card network rules and state laws apply.
Cards the program coversCredit cards only (surcharge)Source: Helcim (opens in a new tab)
Monthly fee for the program$0/moSource: Helcim (opens in a new tab)Neither the Fee Saver terms nor Helcim's fee disclosure list a fee for it.
Your POS and your business
Data pointValue
Works with these restaurant POSOthersSource: Helcim (opens in a new tab)Its own POS app at no extra cost. The Smart Terminal has an API to connect other POS systems, but Helcim documents no integration with Toast, Square, Clover, Shift4 POS, SpotOn or Lightspeed.
Requires the vendor's own POSNoSource: Helcim (opens in a new tab)The Smart Terminal also works as a standalone terminal next to your POS.
Monthly volume it's built for$0/moSource: Helcim (opens in a new tab)No minimum volume: the first tier starts at $0.
Accepts high-risk businessesYesSource: Helcim (opens in a new tab)Some higher-risk businesses after extra review; prohibited businesses are turned down.
Routes debit to the lowest-cost networkUnconfirmedSource: Helcim (opens in a new tab)Helcim prices PIN debit at interchange plus its markup but doesn't say whether it routes debit to the cheapest network.
Support
Data pointValue
24/7 support for merchantsNoSource: Helcim (opens in a new tab)
Support channelsPhone, Email or formSource: Helcim (opens in a new tab)Phone with its in-house team, and support tickets from your account.
Language
Data pointValue
Support in SpanishUnconfirmedSource: Helcim (opens in a new tab)Helcim doesn't say it in its contact page, terms or help center; we found nothing in Spanish.
Merchant dashboard in SpanishUnconfirmedSource: Helcim (opens in a new tab)Helcim doesn't say it in its contact page, terms or help center; we found nothing in Spanish.
Contract or terms in SpanishNoSource: Helcim (opens in a new tab)Helcim publishes its US terms in English only, arbitration is in English, and helcim.com/es answers 404.
US website in SpanishNoSource: Helcim (opens in a new tab)helcim.com/es answers 404; the US site is in English.

More about Helcim

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