Swift Payments featured in Rafih Style Magazine – Business & Finance Edition

Swift Payments - Merchant Services - London Ontario and Windsor OntarioWhether you own and operate a successful store or restaurant, sell products and services online, or go wherever your work takes you, your customers’ money is no good to if you can’t accept and process it. Now more than ever, virtually every Canadian business needs a credit card payment processor. We’re curious: how much does yours cost you? 

The truth is, many banks and merchant service providers employ loose sales tactics, indecipherable statements, complicated rate structures, and deliberately overcomplicated long-term contracts to mislead and manipulate their clients into paying much more than is necessary. Thankfully, there’s now another option.


Swift Payments makes it easy and affordable for Canadian businesses of all sizes to accept credit card and debit payments. The London-based company has serviced businesses here in Southwestern Ontario and across the country since January 2014.


“We know the hassles,” explains Dino Halbouni, VP of Sales and Marketing. Over three decades in the restaurant and hospitality industry, the Halbouni family came to understand the problems with mainstream payment processors. “We tried three different processors in three years,” he recalls. “There was always something missing. There was an integrity gap in this market that left room for an honest company to come in.”


Here’s how it works: Most banks and merchant service providers use a pricing model called Interchange Differential, which entails confusing rate structures, hidden fees, and charging twice on premium or reward cards. Swift Payments’s unique Cost+ Pricing platform uses straight Interchange pricing. “We take the cost charged by Visa or MasterCard and we add a simple premium on top of it, no matter what the card type might be,” explains Dino. “The credit card industry is progressing towards ‘premium’ or ‘reward’ cards. At Swift Payments, we believe the merchant should not be penalized for this.” Best of all, Swift Payments’s rates are guaranteed for the life of a client’s relationship with the company, and they include no lease contracts, no monthly minimums, and no statement or cancellation fees. “We are 100% transparent, from our monthly statements, to our marketing material,” explains Dino. “We take pride in being the odd man out in our industry. Even though this would seem like a common-sense approach, our competitors don’t share our need for transparency.”


For example, while most payment processors advertise low “qualified rates” or “teaser rates” to their customers, these rates often only apply to Visa and MasterCard’s most basic credit cards. “The qualified rate might apply to one or two credit cards out of dozens,” explains Dino. “Interchange Differential pricing has been utilized as a means of ‘double-dipping’ merchants. The merchant is promised a qualified rate, which is charged on the entire amount processed. 


Once Visa or MasterCard has authorized the credit card and determined that it falls under a premium card type, the merchant is then charged a  second, much higher mark-up on top.” 

“Because businesses need payment processing, our competitors aren’t taking the time to educate their customers on how to read their statements,” explains Mike Halbouni, Director of Operations. “The average customer doesn’t know what they’re getting themselves into. We believe by educating our merchants, we can take the power from the service provider and put it back into the hands of the merchant.”


If you make the decision to switch to Swift Payments, your personal relationship manager, reachable 24/7, will take the time to provide you with a comprehensive Cost Analysis Statement. Swift Payments will comb through three months of statements from your previous processor to determine what you would have paid with Swift Payments’s Cost+ Pricing. In almost all cases, it translates into real savings. “We are saving customers anywhere between $100 and $800 per month,” explains Dino. “One, over a three-year term, was able to save more than $37,500.” Best of all, Swift Payments requires no contractual commitments.


Importantly, Swift Payments customers still receive the best products and services available. Swift Payments offers a number of conventional retail payment services using machines from Ingenico, the leading terminal provider in the world. The Swift Payments Virtual Terminal, on the other hand, is a sophisticated full-service web-based payment solution that allows your business to secure payments in the Cloud. 


Swift Payments also offers Virtual Merchant Mobile payment solutions for Android and iOS smartphones and tablets. Swift Payments’s dedicated Mag-Tek hardware card readers, combined with its downloadable payment processing app, will transform the phone or tablet you already own into a dedicated payment terminal. With Swift Payments, your business can accept payments securely and expediently on deliveries or at pop-ups, farmers’ markets, construction sites, clients’ offices, or wherever you find yourself. Virtual Merchant Mobile can also act as a complementary payment terminal in traditional brick-and-mortar businesses during peak business hours. “It gives our customers the exact same processing rates as if they were to hold a terminal in their hand,” explains Dino.


Intriguingly, through its partnership with US National Bank, Swift Payments promises to have first rights in Canada to ApplePay, a potentially game-changing payment processing suite, once it becomes available in our market.


“We truly want our customers to feel like royalty,” says Mike. “The credit card processing industry was created to service customers – to help them and to make their operations simpler and easier. Swift Payments in our culture means royalty. We stand by our name every single day.”


Payment Solutions Made Easy

Rafih Style Magazine

By: Jesse Ziter



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Swift Payments is a registered MSP/ISO of the Canadian branch of U.S. Bank National Association and Elavon. New applicants are subject to conditions and approval of the application by Swift Payments and its partnering banks.



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