Moneris Solutions Review
Moneris Solutions is a credit card processor that offers various payment processing solutions to merchants in Canada. The company provides credit card terminals, POS systems, eCommerce payment processing, and several related services.
|Early Termination Fee||$250+|
|Contract Terms||3 Years|
Moneris Solutions Overview
Moneris Solutions is was founded in 2000 and is based out of Toronto, Canada. The company also has a U.S.-based subsidiary called Humboldt Merchant Services, which services merchants in the United States. Moneris offers tailored solutions to merchants operating in industries like:
- Professional practice
- Large enterprise
A merchant can use Moneris Solutions to process their online payments, purchase terminals, and find POS solutions. The company also offers discounted pricing plans for enterprise merchants that process a large volume of transactions.
Moneris’ rates vary considerably from merchant to merchant. The company bases its pricing on the merchant’s business type and processing volume. The amount that Moneris charges you could also depend on the agent setting up your account.
Moneris Solutions has received a moderate number of online complaints. Most of these complaints focus on excessive cancellation fees and hidden fees. However, the company has managed to maintain an A+ rating with the BBB.
Moneris Solutions Pros & Cons
Moneris Solutions Products & Services
Online Payment Processing
Moneris Solutions’ offers online payment processing through its Moneris Gateway service. This service is advertised as a multi-functional online tool that allows merchants to accept many different online payment types. Moneris Gateway includes helpful features like customizable checkout form fields, support for Google Pay, and the ability to display prices in over 120 foreign currencies.
Moneris Solutions offers merchants two main types of terminals to choose from. The first is called Moneris Go. Moneris Go is a terminal that features wireless 4G connectivity and day-long battery life. It also provides on-the-go reporting, which can make it easier to stay on top of your company’s payment data.
Moneris Core is the company’s other primary terminal offering. It features valuable features like a dynamic currency conversion tool and gift card processing. The company can also configure this device remotely, making the setup process a bit easier for merchants to complete.
iPad POS System
Moneris Solutions’ iPad POS system is specifically designed for the needs of restaurants. It includes a restaurant POS software that enables tableside ordering, table management, menu management, and even staff management. The device also accepts all of the most common types of payments and includes reporting and analytics tools that will give you greater insight into how your restaurant is doing.
Moneris Solutions Advertising & Sales
Moneris Solutions’ advertising practices are fairly standard for the industry. The company doesn’t market intentionally deceptive rates for its services. But it doesn’t disclose all of the information that merchants would want to know before choosing Moneris Solutions either.
The company’s sales practices aren’t as good as they could be. Moneris hires independent sales agents to sell its products. This is a practice that’s commonly tied to deceptive practices. Indeed, Moneris has received a number of online complaints about its sales process. Many of these revolve around deceptive rates and hidden fees.
Truth in Marketing
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
|Public Pricing Available||Yes|
Moneris Solutions Pricing, Rates & Fees
Moneris Solutions’ doesn’t disclose much information about its per-transaction prices. We know that the company favors an interchange-plus model for swiped and keyed-in transactions. But it appears that the rates they charge vary from merchant to merchant.
The company’s pricing is clearer in other areas. For example, Moneris’ iPad POS software costs between $44.95 and $99.95 per month. It has a per-transaction rate of between 2.65% and 2.85% + $0.15, depending on the transaction type.
Pricing At A Glance
|Pricing Model||Interchange Plus|
|Mobile Payment Rate||2.65%|
|Virtual Terminal Rate||1.00% - 4.99%|
|Payment Gateway Fee||Undisclosed|
|Early Termination Fee||$250+|
|PCI Compliance Fee||Undisclosed|
|Equipment Lease Terms||Undisclosed|
|Address Verification Service (AVS)|
|Account Setup Fee||$0|
|Gateway Setup Fee|
Moneris Solutions Contract & Terms
Moneris Solutions favors a three-year contract agreement with an early termination fee of $250. This contract will renew automatically if the merchant doesn’t submit a written cancelation notice to Moneris within 60 days of its expiration.
Though a three-year deal is standard, merchants can accept some flexibility when negotiating their deals with Moneris Solutions. The company seems to alter its approach on a merchant-by-merchant basis. So there is some room to negotiate a deal that is more closely aligned with your preferences.
Moneris Solutions Setup & Support
Setting up service with Moneris Solutions is a fairly straightforward process. The company has an online knowledge base that you can review to find answers to common questions. It also has live 1-on-1 support that you can access if you’re having trouble.
Moneris Solutions also has solid customer support offerings. It has domestic phone support available during normal business hours and offshore tech support available after hours. The company also has an online FAQ that you can review any time you wish.
Moneris Solutions Complaints, Ratings & Reviews
Moneris Solutions currently has an A+ rating with the Better Business Bureau. However, the company has received a moderate number of online complaints. Most of these involve allegations of excessive cancellation fees, hidden per-transaction costs, and broken contractual promises. Many of these issues are tied to the company’s use of independent sales agents.
|BBB||A+ but is not BBB Accredited. (3 Reviews; 8 Complaints)|
|2.1 Stars / 45 Reviews|
|Yelp||1 Star / 5 Reviews|
|Total Online Reviews||300+|
|Total Online Complaints||80+|