Websites using Moneris

Okay, let s break down Moneris, covering its overview, revenue, alternatives, pricing, and customer care.

Moneris: Overview

Moneris Solutions Corporation is one of Canada s largest payment processors. It provides businesses with the technology and services to accept payments in various ways, including:

• In-person: Point-of-sale (POS) terminals, mobile payment solutions
• Online: Payment gateways for e-commerce websites, virtual terminals
• Over the phone: Virtual terminals for manual entry
• Recurring billing: Tools to automate recurring payments (subscriptions, memberships, etc.)

Key Features and Services:

• Payment Processing: Accepts a wide range of payment methods including major credit cards (Visa, Mastercard, American Express, Discover), debit cards (Interac in Canada), mobile wallets (Apple Pay, Google Pay, Samsung Pay), and other forms of payment.
• Point-of-Sale (POS) Systems: Offers a range of POS terminals, from basic countertop models to more advanced systems with features like inventory management and reporting.
• E-commerce Solutions: Provides payment gateways that integrate with popular e-commerce platforms (Shopify, WooCommerce, etc.) to enable online payments.
• Mobile Payments: Offers mobile payment solutions for businesses on the go.
• Security: Emphasizes security with features like EMV chip card processing, tokenization, and PCI DSS compliance.
• Reporting and Analytics: Provides tools to track sales, analyze customer behavior, and manage finances.
• Fraud Prevention: Provides a suite of tools designed to minimize fraudulent transactions.
• Customer Support: Offers customer support through phone, email, and online resources.
• Developer Tools: Provides APIs and SDKs for developers to integrate Moneris payment processing capabilities into their own applications.
• Gift Card and Loyalty Programs: Options to implement and manage gift card and loyalty programs.

Revenue

Moneris is a privately held company, jointly owned by RBC Royal Bank and BMO Bank of Montreal. As such, it doesn t publicly disclose its exact annual revenue. However, it s estimated to be in the billions of dollars annually, based on market share and the volume of transactions processed. Moneris is one of the largest payment processors in Canada, so it handles a significant portion of the payment processing volume.

Alternatives to Moneris

The payment processing landscape is competitive. Here are some notable alternatives to Moneris:

• Stripe: Popular for online businesses. Known for its developer-friendly APIs and flexible integration options. Generally good for e-commerce.
• Square: Excellent for small businesses. Offers a comprehensive ecosystem, including POS systems, payment processing, and other business tools. Easy to use. Good for in person and small businesses.
• PayPal: A widely recognized and trusted payment platform. Suitable for both online and in-person payments. Offers a variety of services, including payment processing, invoicing, and financing.
• Chase Payment Solutions (formerly Chase Paymentech): A large payment processor that offers a range of solutions for businesses of all sizes.
• Global Payments: Another major player in the payment processing industry, offering a wide range of services.
• Helcim: A Canadian-based payment processor with transparent pricing and a focus on customer service.
• Lightspeed: Focused on retail and restaurant businesses, offering integrated POS and payment solutions.
• Adyen: A global payment platform that caters to large enterprises and offers advanced features.
• Shopify Payments: Integrated with the Shopify e-commerce platform, providing a seamless payment experience for Shopify store owners.

Choosing an Alternative: Consider factors like:

• Business type: E-commerce, retail, restaurant, service-based
• Transaction volume: High or low volume
• Integration requirements: Does it need to integrate with existing software?
• Pricing: Compare transaction fees, monthly fees, and other costs.
• Features: What features are important to your business?
• Customer support: How important is reliable customer support?

Pricing

Moneris pricing is generally customized based on the business s specific needs and transaction volume. It s best to get a quote directly from Moneris. However, here s a general overview of the types of fees you can expect:

• Transaction Fees: A percentage of each transaction plus a per-transaction fee. This is the primary cost. The percentage and per-transaction fee vary based on the type of card (credit, debit, rewards), the payment method (in-person, online), and the business s negotiated rate. Expect rates to be in the range of 1.5% to 3% + $0.05 to $0.15 per transaction for credit cards, and lower for debit cards (Interac). These fees are often interchange-plus pricing.
• Monthly Fees: A fixed monthly fee for the account, which may include access to the payment gateway, reporting tools, and other services.
• Terminal Fees: If you lease a POS terminal, you ll pay a monthly rental fee. You may also have the option to purchase a terminal outright.
• Setup Fees: Some providers charge a one-time setup fee to establish your account.
• Other Fees: Fees for chargebacks, statement delivery, and other services may also apply.

Important Considerations for Pricing:

• Negotiate: Payment processing fees are often negotiable, especially if you have high transaction volume.
• Hidden Fees: Be sure to ask about all potential fees, including early termination fees, PCI compliance fees, and other hidden costs. Read the fine print carefully.
• Interchange-Plus Pricing: Understand the difference between different pricing models (e.g., interchange-plus, tiered pricing, flat-rate pricing) to ensure you re getting the best deal. Interchange-plus pricing is generally considered the most transparent.

Customer Care Details

Moneris offers customer support through various channels:

• Phone Support: Typically available 24/7, which is a major advantage. Find their support number on their website.
• Online Resources: A website with FAQs, knowledge base articles, and other self-service resources.
• Email Support: Email support is also available for less urgent inquiries.
• Account Management: Larger businesses may have dedicated account managers.

What to Expect from Moneris Customer Care:

• Availability: 24/7 phone support is a strong point.
• Responsiveness: Response times can vary depending on the issue and the volume of inquiries.
• Knowledge: The knowledge and helpfulness of support representatives can vary. It s always a good idea to have your account information and specific details about your issue ready when you contact support.
• Contract terms and conditions: Have a clear understanding of your contract and its terms and conditions.

Tips for Contacting Customer Care:

• Have your account information ready.
• Clearly describe the issue you re experiencing.
• Note the date, time, and name of the representative you speak with.
• Follow up in writing (email) to document the issue and any resolutions.

In summary: Moneris is a large and established payment processor, particularly strong in Canada. While alternatives may offer more attractive pricing or specialized features, Moneris s reliability and comprehensive suite of services make it a viable option for many businesses.