Best for
Canadian merchants who value variable contract terms and pricing
Specializes in
Online payment processing, terminals, POS systems, digital wallets, enterprise-pricing for high-volume merchants
Pricing Summary
Setup Fee: $0
Monthly Fee: Variable
Swipe Rate: Interchange-Plus
Keyed-in Rate: Interchange-Plus
Early Termination Fee : $250+
Contract Terms:
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.
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:
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.
Head Quarters
Toronto, Canada
Year Founded
2000
CEO
Angela Brown
Employees
1900
Merchant Provider Risk Tolerance
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.
Terminals
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.
Discloses All Important Terms
No
Public Pricing Available
Yes
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 Model
Interchange Plus
Swiped Rate
Interchange-Plus
Keyed-in Rate
Interchange-Plus
Mobile Payment Rate
2.65%
Virtual Terminal Rate
1.00% - 4.99%
Monthly Fee
Variable
Payment Gateway Fee
Undisclosed
Batch Fee
Undisclosed
Early Termination Fee
$250+
PCI Compliance Fee
Undisclosed
Equipment Lease Terms
Undisclosed
Address Verification Service (AVS)
Application Fee
Account Setup Fee
$0
Gateway Setup Fee
Annual Fee
Monthly Minimum
Undisclosed
Statement Fee
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.
Contract Length
3 Years
Early Termination Fee
$250+
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
N/A
Yelp
1 Star / 5 Reviews
Total Online Reviews
300+
Total Online Complaints
80+
Lawsuits
None
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