Moneris
{{Short description|Canadian payment processor}}
{{Multiple issues|
{{promotional|date=February 2023}}
{{Self-published|date=May 2021}}
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{{Infobox company
| name = Moneris
| logo = Moneris Solutions logo.png
| former_name = Moneris Solutions
| type = Joint venture
| foundation = {{start date and age|2000|12}}
| location = Etobicoke, Ontario, Canada
| area_served = Canada
| key_people = James Hicks (president & CEO) {{cite web |url=https://www.moneris.com/en/About-Moneris/Our-Team |title=Moneris - Our Executive Team |publisher=Moneris|access-date=May 15, 2017}}
| products = Point of sale terminals and auxiliary equipment
| industry = Payment processing
| owner = Royal Bank of Canada
Bank of Montreal
| num_employees = 1,900
| parent =
| homepage = {{URL |http://moneris.com/}}
}}
Moneris (formerly "Moneris Solutions") is a Canadian financial technology company that specializes in payment processing.{{Cite web|url=https://onbcanada.ca/payment-processing-leader-moneris-celebrates-15-years-in-new-brunswick|title=Payment Processing Leader Moneris Celebrates 15 Years in New Brunswick|date=5 July 2017 |language=en|access-date=2022-09-03}}{{Cite web|url=https://www.sage.com/ca/sage-50-accounting/lp/moneris|title=Sage 50 Accounting is now connected to Moneris {{!}} Sage|website=www.sage.com|language=en|access-date=2017-12-18}}
Moneris was established in December 2000, as a joint venture between the Royal Bank of Canada and Bank of Montreal.{{cite web
|url=http://www.moneris.com/corporate/monerissolutions/history.php
|title=Moneris - Corporate History
|access-date=2008-08-28
|archive-url=https://web.archive.org/web/20080404014112/http://www.moneris.com/corporate/monerissolutions/history.php
|archive-date=2008-04-04
|url-status=dead
}} The company is headquartered in the Toronto suburb of Etobicoke, Ontario and has offices in Sackville, New Brunswick,{{cite web
|url = http://www.moneris.com/index.php?context=/aboutus/mediacenter/pressreleases&id=20
|title = Minister Of Finance, Mayor Of Sackville And Moneris Solutions CEO Open New Sackville Contact Centre
|access-date = 2008-08-28
|url-status = dead
|archive-url = https://web.archive.org/web/20071010095604/http://www.moneris.com/index.php?context=%2Faboutus%2Fmediacenter%2Fpressreleases&id=20
|archive-date = 2007-10-10
}} Burnaby, British Columbia,{{Cite web|title=Moneris {{!}} Contact Us|url=https://www.moneris.com/en/About-Moneris/Contact-Us|access-date=2020-10-23|website=www.moneris.com}} Montreal, Quebec, and Calgary, Alberta.
Moneris's U.S. operations (formerly known as Harris Bank Merchant Services/The Charge-It-System) were based in Schaumburg, Illinois, until being sold in November 2016 to Vantiv.{{Cite web|url=http://www.businessinsider.com/vantiv-acquires-moneris-usa-2016-11|title=Vantiv has made a key acquisition|last=|first=|date=14 November 2016|website=Business Insider|access-date=26 June 2017}}
History
Moneris was first established in December 2000 as a 50/50 joint venture between RBC and BMO.{{Cite web|title=RBC Royal Bank - Contact Us - Merchant Card Services|url=http://www.rbcroyalbank.com/merchcard_index.html|access-date=2020-11-03|website=www.rbcroyalbank.com}} It became the first Canadian appropriator to offer both Visa and Mastercard merchant accounts in one single point of contact.{{Cite web|date=2002-07-24|title=MONERIS RECORD • 07/24/2002|url=https://cardflash.com/news/2002/07/moneris-record/|access-date=2020-11-03|website=CardFlash® - Payment Card Industry News|language=en-US}} Moneris was also the first Canadian payment processor to use an integrated point-of-sale system, so businesses could have the proceeds from all card transactions flow into a single deposit account. After its first 1.5 years, the company reported having processed more than 2 billion transactions in Canada.
In October 2003, Moneris acquired Ernex Marketing Technologies, an industry leader in providing privately branded loyalty programs and stored-value gift cards.{{Cite web|date=2003-10-29|title=Moneris Solutions Enters Gift Card Market with Ernex Acquisition • 10/29/2003|url=https://cardflash.com/news/2003/10/moneris-solutions-enters-gift-card-market-with-ernex-acquisition/|access-date=2020-11-03|website=CardFlash® - Payment Card Industry News|language=en-US}}
In February 2004, Moneris purchased the merchant portfolio of RBC Centura to become the payment provider for all existing and new merchant accounts tied to the bank.{{Cite web|date=2004-02-12|title=Moneris Solutions Purchases Merchant Acquiring Portfolio from RBC Centura|url=https://www.businesswire.com/news/home/20040212005550/en/Moneris-Solutions-Purchases-Merchant-Acquiring-Portfolio-from-RBC-Centura|access-date=2020-11-03|website=www.businesswire.com|language=en}} The acquisition supported the company's expansion into the United States with merchants located in North Carolina, South Carolina, Virginia, Georgia, and Florida.
On June 6, 2005, Moneris became the first payment processor in Canada to process an Interac Online transaction.{{Cite web|date=2007-10-10|title=Moneris- payment processing, point of sale, debit credit card machine, pos equipment: /aboutus/mediacenter/pressreleases|url=http://www.moneris.com/index.php?context=/aboutus/mediacenter/pressreleases&id=82|access-date=2020-11-03|archive-url=https://web.archive.org/web/20071010095632/http://www.moneris.com/index.php?context=/aboutus/mediacenter/pressreleases&id=82|archive-date=2007-10-10}} This marked the first opportunity for Canadians to pay for goods and services purchased on the Internet directly from their bank account. Prior to Interac Online, the primary option for Canadians to pay for purchases online was through a credit card.
On June 27, 2005, Moneris processed the first full data EMV chip transaction in Canada with a VISA certified chip.{{cite web|title=Moneris Solutions demonstrates Canada's first Visa certified chip transaction|url=http://www.moneris.com/index.php?context=/aboutus/mediacenter/pressreleases&id=85|url-status=dead|archive-url=https://web.archive.org/web/20071010095050/http://www.moneris.com/index.php?context=%2Faboutus%2Fmediacenter%2Fpressreleases&id=85|archive-date=2007-10-10|access-date=2008-08-28}} This was the first card transaction in Canada that required inserting a card into a chip reader slot on the terminal, rather than use a swipe feature. On August 27, 2007, the company announced it was among the first acquirers in Canada to be certified by all of Interac, Mastercard and VISA to provide chip technology in Canada.{{cite web|title=Moneris Solutions delivers convenient and secure payment processing to Canadians through fully certified chip technology|url=http://www.moneris.com/index.php?context=/aboutus/mediacenter/pressreleases&id=109|url-status=dead|archive-url=https://web.archive.org/web/20071008095125/http://www.moneris.com/index.php?context=%2Faboutus%2Fmediacenter%2Fpressreleases&id=109|archive-date=2007-10-08|access-date=2008-08-28}}
In April 2008, Moneris acquired Keycorp Canada, one of the largest providers of POS support services in Canada, to expand its portfolio of merchants.{{Cite web|date=2008-04-08|title=Moneris Has Deal for Keycorp Canada|url=https://www.americanbanker.com/news/moneris-has-deal-for-keycorp-canada|access-date=2020-11-03|website=American Banker|language=en}}
In March 2013, Moneris processed the first Near Field Communication (NFC) mobile debit transaction in Canada.{{Cite web|date=March 27, 2013|title=First Interac Flash debit transactions made from a mobile phone|url=https://newsroom.interac.ca/first-interac-flash-debit-transactions-made-from-a-mobile-phone/|access-date=2020-11-03|website=newsroom.interac.ca}} Using Interac Flash, Canadians could now make contactless debit transactions with their mobile device. The debut of NFC payment in Canada was performed in a McDonald's restaurant using a Blackberry smartphone.
In November 2014, Moneris became the first Canadian acquirer to offer a full processing solution for the UnionPay card portfolio.{{Cite web|title=Moneris adds UnionPay to card acceptance offerings for Canadian merchants|url=https://www.newswire.ca/news-releases/moneris-adds-unionpay-to-card-acceptance-offerings-for-canadian-merchants-516553651.html|access-date=2020-11-03|website=www.newswire.ca|language=en}}
In November 2016, US-based payment processor Vantiv announced that it had acquired Moneris USA for $425 million USD. Vantiv (now under Fidelity National Information Services Inc.) took over all Moneris USA operations including merchant accounts and other business relationships.
Products
= Devices =
In June 2014, Moneris launched Payd Pro, a point of sale (POS) solution that can run on a smartphone.{{Cite web|last=Candice So|title=New mobile payments solution takes both debit and credit|url=https://www.itbusiness.ca/news/new-mobile-payments-solution-takes-both-debit-and-credit/49489|access-date=2020-10-23|website=IT Business|date=23 June 2014 |language=en-US}} The device was promoted as Canada's first mobile POS solution to accept Interac debit and credit, as well as the first to include EMV chip and PIN and contactless payment technology. The device came in the form of a PIN pad, which connects to Moneris' Payd app using a Bluetooth connection. Payd Pro was targeted at small businesses to accept payments from anywhere.
In April 2019, Moneris introduced Moneris Core, a proprietary software used to power its next-generation payment terminals. With Moneris Core, Moneris became the first major payment provider in Canada to provide its own proprietary payment experience.{{Cite web|last=Moneris|title=Moneris introduces universal payment application on next-generation devices|url=https://www.newswire.ca/news-releases/moneris-introduces-universal-payment-application-on-next-generation-devices-867684009.html|access-date=2020-10-23|website=www.newswire.ca|language=en}}
In September 2020, Moneris launched Moneris Go, using the A920 Android POS mobile terminal from PAX Technology.{{Cite web|title=PAX Technology and Moneris Solutions launch A920 in Canada|url=https://www.prweb.com/releases/pax-technology-and-moneris-solutions-launch-a920-in-canada-858107454.html|access-date=2020-10-23|website=PRWeb}} The mobile device accepts card and contactless payments and can integrate with third-party apps. The device was announced as the company's first smart terminal and suitable for businesses of all sizes.
Moneris is the only acquirer in Canada to offer a unified bilingual experience for English and French users across all of its point-of-sale terminals.
= Services =
In October 2018, Moneris launched its digital analytics tool Offlinx to measure the effect digital ad spending can have on in-store purchases for retail businesses.{{Cite web|last=Simpson|first=Meagan|title=New Moneris analytics tool shows ROI of digital marketing for brick-and-mortar stores|url=https://www.itbusiness.ca/news/new-moneris-analytics-tool-shows-roi-of-digital-marketing-for-brick-and-mortar-stores/106358|access-date=2020-10-23|website=IT Business|date=30 October 2018 |language=en-US}} The company's data services has publicly shared findings to disclose Canadian consumer spending habits during the 2019 NBA Finals,{{Cite news|title=Raptors' long playoff run means 'multiple millions' for Toronto {{!}} CBC News|language=en-US|work=CBC|url=https://www.cbc.ca/news/canada/toronto/moneris-raptors-playoff-spending-report-1.5156192|access-date=2020-10-23}} the King Street Pilot Project,{{Cite news|title=Business along King Street Pilot Project route saw 'slight' growth this spring, report finds {{!}} CBC News|language=en-US|work=CBC|url=https://www.cbc.ca/news/canada/toronto/king-street-pilot-project-may-june-data-1.4787137|access-date=2020-10-23}} and holiday seasons.{{Cite web|title=Tomorrow is expected to be the busiest shopping day of 2019 {{!}} News|url=https://dailyhive.com/vancouver/friday-december-20-busiest-shopping-day-2019|access-date=2020-10-23|website=dailyhive.com|language=en}}
Business
= Operations =
Moneris processes more than 3 billion transactions a year for over 350,000 merchant locations and employs more than 1,900 people across North America.{{cite web|title=Moneris Solutions - About Us|url=http://www.moneris.com/index.php?context=/aboutus|url-status=dead|archive-url=https://web.archive.org/web/20090224111106/http://moneris.com/index.php?context=%2Faboutus|archive-date=2009-02-24|access-date=2009-02-16}} While based in Toronto, the company has offices in Sackville NB, Burnaby BC, Montreal QC, and Calgary AB.
= Growth =
In 2016, Moneris began a partnership with Planet Payment, a provider of international and multi-currency payment processing services.{{Cite web|title=Planet Payment partners Moneris for multi-currency processing solutions delivery to Canadian merchants|url=https://thepaypers.com/online-payments/planet-payment-partners-moneris-for-multi-currency-processing-solutions-delivery-to-canadian-merchants--763225|access-date=2020-10-23|website=thepaypers.com|language=en}}
In 2018, Moneris began a partnership with Kount, an online fraud protection platform.{{Cite web|title=Moneris {{!}} Moneris partners with Kount to expand fraud protection services for Canadian online businesses|url=https://www.moneris.com/en/About-Moneris/News/Moneris-partners-with-Kount-to-expand-fraud-protection-services-for-Canadian-online-businesses|access-date=2020-10-23|website=www.moneris.com}}
In 2020, Moneris began a partnership with Bookmark, a Toronto-based website building startup, to provide web-building tools for small businesses.{{Cite web|title=Moneris {{!}} Moneris Invests and Partners with Bookmark to Deliver Online Business Solutions for Canadian Small Businesses|url=https://www.moneris.com/en/About-Moneris/News/Moneris-Invests-and-Partners-with-Bookmark|access-date=2020-10-23|website=www.moneris.com}}
Moneris is partnered with all major card brands in Canada, including Interac, Visa, Mastercard, American Express, Discover, and Union Pay. In 2015, Moneris announced support for Apple Pay in its contactless-capable terminals.{{Cite web|title=Moneris {{!}} Moneris welcomes Apple Pay to Canada|url=https://www.moneris.com/en/About-Moneris/News/Moneris-Welcomes-Apple-Pay|access-date=2020-10-23|website=www.moneris.com}} In 2017, Moneris announced support for Google Pay.{{Cite web|title=Moneris {{!}} Moneris Supports Android Pay in Canada|url=https://www.moneris.com/en/About-Moneris/News/Moneris-Supports-Android-Pay-in-Canada|access-date=2020-10-23|website=www.moneris.com}}
References
{{reflist}}
{{RBC}}
{{Bank of Montreal}}
Category:Financial services companies of Canada
Category:Financial services companies based in Toronto
Category:Financial technology companies
Category:Payment service providers
Category:2000 establishments in Canada
Category:Financial services companies established in 2000