Moneris is a Canadian payments company, formerly known as Moneris Solutions. The US division was purchased by Vantiv, which was acquired by Worldpay.
Moneris offers comprehensive solutions aimed at retail, restaurant, professional service, and non-profit organizations as well as enterprise pricing for high volume merchants. They also offer a website building tool called Moneris Online, which provides built-in online payment functionality.
Moneris was a joint venture between the RBC Financial Group and BMO Financial Group. It was acquired by Vantiv and acquired UEAT in 2021.
This company offers a three-year contract with interchange pricing, a liquidated damages-style early termination fee, and has received more than 80 public complaints.
Moneris merchant account rates and fees vary based on the merchant’s business type and processing volume.
The standard Moneris merchant account agreement included a $250 Liquidated Damages Early Termination Fee.
Moneris offers three pricing plans for its iPad POS solution: “Small”, “Medium” and “Large”. Each plan includes one user and 1,000 products, and includes a fixed swiped rate of 2.65%, plus a keyed-in rate of 2.85% plus $0.15.
Moneris Solutions offers virtual terminal and payment gateway services for its storefront payment processing services, but pricing is not disclosed on either of those services.
Moneris Solutions also offers Level 2 and Level 3 processing for B2B and B2G transactions. These services rely on different interchange rates than traditional consumer credit transactions.
Moneris provides a list of rates and fees associated with different transaction types and the interchange rates it relies upon.
Moneris has received more than 80 public complaints on consumer protection websites. The complaints report unexpected cancellation fees, per-transaction or monthly fees, and broken promises of refunds and rebates.
Moneris offers 24/7 phone support, but they have fallen short of our expectations for great customer service.
Moneris is not BBB accredited, has received a total of 10 complaints in the last 36 months, and has only resolved 2 of the complaints to the satisfaction of the merchant.
Moneris appears to primarily market its services through telemarketing and inside sales agents. It also offers work-from-home positions, but also offers in-person and on-site support and installation teams.
We did not find any deceptive advertising or rate quoting, which compares favorably to our list of best credit card processors.
Overall, Moneris scores about average for a credit card processing company, and can raise its rating in the future by improving its pricing and customer service.
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