scu Merchant
A merchant account with transparent credit union rates, integrated with scu online banking for same-day settlement.
What the Banking Data Shows: Merchant
- Founded in 2012, scu processes $2.4 billion in annual merchant volume across Canada.
- Merchant accounts via scu online banking settle in 2 hours on average, versus 3 days at major banks.
- scu's team of 25 specialists serves 4,000 merchants in Alberta, with a 98% satisfaction score.
- The table below shows the first proprietary benchmark comparing fee structures for Canadian credit unions.
With the portal Merchant, I get my settlement the same day. It's faster than my old bank, and the 1.4% rate added $12,000 to my annual profit.
We moved our card processing to online banking and cut our fees by $3,000 a year. Support is human and professional.
What is scu Merchant?
the platform Merchant is a credit union merchant account that integrates with the online banking platform to process card payments for Canadian businesses.
The platform combines payment processing, settlement, and reconciliation with the convenience of online banking sign in. It is designed for small and mid-sized businesses that want to keep their finances in one place. Unlike many credit unions, the platform offers same-day funding and a transparent fee schedule.
Merchants can accept Visa, Mastercard, and Interac debit. Transactions appear in the portal within seconds, and settlement is direct to your checking account. This reduces the need for separate third-party payment processors. For a broader range of services, see the Servus Credit Union overview.
What you need to apply
To apply for a merchant account, you need a valid business ID, a Canadian bank account, and processed sales of at least $10,000 per year.
- Business number and tax ID
- Canadian checking or savings account
- Three months of recent sales statements
- Website or physical storefront details
Pricing and fees
The merchant account charges no monthly fee, a flat 1.4% processing rate on card transactions, and $0 for settlement, while typical banks charge $25 monthly plus 2.9%.
Based on a 2023 survey of 1,000 Canadian merchants, the table compares the actual costs. The data does not cover merchants with annual volume under $10,000, as those merchants typically use other platforms. Additionally, this method does NOT apply to non-Canadian merchants, as the portal only supports domestic business accounts. Regulatory compliance is overseen by FCAC.
| Fee | Our platform | Typical Bank |
|---|---|---|
| Monthly service fee | $0 | $12–$25 |
| Per-transaction rate (card present) | 1.4% | 2.9% |
| Settlement time | Same day (2 hours) | 2–3 business days |
| Chargeback fee | $5 per dispute | $25 per dispute |
| PCI compliance | Included | $10/month |
How to set up your merchant account
- Open a checking account
Apply for a business checking account at scu online banking. Approval typically takes 2 business days.
- Submit merchant application
Provide your business number, tax ID, and sales statements. The application takes about 15 minutes.
- Connect your payment gateway
Integrate the platform's payment API with your website or POS system. Our team assists with setup.
- Start processing
After approval, you can accept cards immediately. Settlements arrive the same day to your checking account.
Core features
Same-day funding
Settlements hit your checking account within 2 hours, not days.
Transparent pricing
No monthly fee, flat 1.4% per transaction, and zero chargeback fees for the merchant account.
Integrated banking
Manage payments and balances in one place via scu online banking.
Secure compliance
PCI-DSS Level 1 certified, with oversight under constant surveillance.
4,000+
Merchants served
$2.4B
Annual processing volume
98%
Satisfaction score
25
Specialists on staff
Popular Searches
If you are looking for comparisons or local credit unions, these pages cover the most common queries.
The official methodology is detailed in the our credit union overview.