New Merchant Account – Setup Requirements & Pricing (Fiserv Canada)
This article outlines the requirements, documentation, and pricing needed to set up a new merchant account with Fiserv (First Data) Canada.
Suitable for finance, operations, and IT teams.
When to Use This Guide
Use this guide when:
Opening a new POS Terminal merchant account
Onboarding payment terminals (Clover)
Coordinating with Fiserv / First Data Canada
Required Documents
The following documents are required to open a new merchant account:
1. CAF – Card Acceptance Form
Must be reviewed and signed
Provided by Fiserv
2. Articles of Incorporation
Legal incorporation documents for the organization
3. Legal Signatory Identification
Provide two (2) pieces of ID for the legal signatory:
Must be one of the following:
Driver’s License
Passport
(Other forms of ID are not accepted)
4. Banking Verification
Provide one of the following:
Banking Letter
Void Cheque
This is used to confirm settlement and deposit details.
Fiserv Contact Information
Primary point of contact:
Steven Kim
Relationship Manager – GBS Canada
Fiserv (First Data) Canada
Email: steven.kim1@fiserv.com
Office: 289-291-6642
Pricing & Equipment (Quote – Feb 4, 2026)
Purchase Option – Clover Flex 4
Price: $995 per device (one-time)
Monthly Terminal Maintenance Fee: $9.95 per device
Covers replacements
Does not cover lost, stolen, or damaged units
Rental Option – Clover Flex 4
Rental Fee: $39.95 per month per device
Notes
Pricing is based on the Feb 4, 2026 quote
Equipment choice (purchase vs rental) should be confirmed before submission
All documentation must be complete to avoid onboarding delays
Summary
To open a new merchant account with Fiserv Canada:
Collect all required legal and banking documents
Review and sign the CAF
Select Clover Flex 4 purchase or rental option
Coordinate submission with the Fiserv relationship manager
Completing all items upfront helps ensure a smooth and timely account setup.