What is Moneris?
Every business which plans on selling a product or service must have an online payment processor in place in order to seamlessly execute all non-cash transactions. In the current digital climate, it has become essential to have a payment processor that will enable the business to grow and flourish, while also upholding the highest level of safety and security.
Moneris is a joint venture launched in the year 2000 in Toronto, Canada between the Royal Bank of Canada (RBC) and the Bank of Montreal (BMO), and is the largest end-to-end multi-featured merchant account provider and payment processor of debit, credit cards as well as wireless and online payments. It ensures the highest level of data security using tools like 3D Secure and Moneris Kount Essential and creates access points for you to process transactions through VISA, MasterCard, American Express, Interact Direct Payment as well as in-person stores, mobile and web devices and e-commerce stores.
Moneris targets mostly medium to large-sized businesses (and startups) that are looking for quick expansion and growth. It has traditional terminals including IWL 255, Vx 810 Duet and iCT 250. The processor also has an eCommerce gateway and can be used for reporting purposes. It focuses on providing businesses with point-of-sale hardware and payment processing softwares.
Moneris is fast and secure. It is estimated that Moneris processes more than one in three transactions in Canada. It is the only service in Canada that provides quick-service and pay-at-table opportunities to restaurants and can be integrated with Lightspeed Restaurant as well.
The payment processor charges a fixed transaction fee of 2.65% per transaction on card-based transactions and 2.85% + $0.15 per transaction on non card-based transactions, while also providing a customized POS system. Moneris provides you with the option to either choose a hosted payment page or go for a custom API integration option. Whichever option you choose, Moneris will ensure the highest level of security, and will ensure fast-paced and easily executable transaction processes. With this payment gateway, you will get all the features including shopping cart integration, tokenization for security and PCI compliance and a vault for storage of customer data.
Features of Moneris
Moneris has a wide range of features and services which include the following:
Since Moneris is a direct processor, this enables merchants to deal with Moneris itself in cases of a withheld transaction or a frozen account, instead of having to deal with a third-party.
Credit Card Terminals
Moneris offers various countertop and wireless terminals which support Apple Pay and Android Pay. Furthermore, EMV-compliant terminals are also compatible.
Moneris provides two “smart” terminals which include colored touchscreens and can bear the load of additional software applications. These terminals are integrated with the Moneris Core software to increase productivity and efficiency.
Moneris has its own PAYD Pro Plus app which transforms your Apple devices into fully functional POS terminals with features like payment processing, customer information management and inventory tracking.
Moneris provides various self-checkout solutions so that customers can check out their products through a contactless process.
Moneris checkout allows you to seamlessly accept your customer’s payments on your website. It has checkout forms that have been built and are hosted by Moneris, forms that are customizable according to your business requirements. It supports GooglePay and is activated within the Merchant Resource Centre.
It has both a free PAYD app and a PAYD Roam Reader (magstripe card reader) which is compatible with Android and iOS. The first card reader is free of cost; the others are charged at a rate of $29.95 each. For additional features, you can upgrade your app to PAYD Pro, which uses the e355 PIN Pad, and is for $19.95 per month.
Moneris Kount Essential/Enterprise
Built for organizations of all shapes and sizes, Moneris Kount Essential and Moneris Kount Enterprise are fraud protection and risk elimination tools used to reduce potential fraud elements and to carry out risk assessments through Moneris API integration.
Moneris provides a marketing and analytics tool, Offlinx, which you can use to analyze data, observe the performance of your business, calculate ROI and get insights to optimize your business and digital marketing.
How Does Moneris Work?
As soon as your customer checks out of their shopping cart and chooses their preferred mode of payment such as debit or credit card, Moneris comes into play. Their card information is transferred through the payment gateway to Moneris, which is connected with your business. It will then send your customer’s card information to their own bank for confirmation of bank balance and funds. If the confirmation is affirmed, the bank informs Moneris that the transaction has succeeded.
Once the transaction has completed successfully, Moneris will transfer this information back to your business in order to finalize and complete the transaction. It will also simultaneously send this data back to the bank to prove that the transaction is complete and the bank will then credit your account with the respective amount.
It is the duty of a payment processor, in this case Moneris, to carry out the end-to-end process of fund transfer, from withdrawing the amount from your customer’s account to safely crediting them into your account, ensuring throughout the process that authentication and security is top notch and in continuous working order to prevent fraud.
Who is Moneris for?
Moneris has a wide range of features and services which include the following:
Retail - this involves payment solutions including Countertop where customers can pay with their cards, PAYD Pro Plus and Short Range Mobile all of which are recommended for retailers, convenience stores, beauty salons and more.
Trade - For business owners and entrepreneurs, Moneris offers solutions that include Long Range Mobile and PAYD Pro which can be used by B2B and home repair services.
Professional Practice - For professionals like doctors, accountants and contractors, Countertop, PAYD Pro and Long Range Mobile would be recommended for the POS payment solution.
Not-for-profit - For charity organizations, Long Range Mobile and PAYD Pro Plus would prove to be useful for donors to donate in a way that is feasible for them.
What are the advantages of using Moneris as your preferred payment processor?
There are many advantages of using Moneris, the largest payment processor in Canada:
Ensuring the highest level of security, Moneris provides PCI compliant payment solutions so that no user can have unauthenticated access while also ensuring increased data security and fraud protection. They also comply with global security practices including the Payment Application Data Security Standard (PA-DSS).
Excellent Customer Service
Moneris offers 24/7 support to its customers through both phone and website. They also have a LiveChat option which is available from Monday to Friday, 8AM to 4PM EST. Furthermore, they also provide a merchant direct secure message center. They have a huge variety of documentation and resources for training, troubleshooting and installation.
Partnerships And Additional Services
Moneris partners with Shopify, Lightspeed, Sage Accounting, RBC and BMO and is therefore able to provide various additional services including inventor and sales tracking.
Moneris has partnered with over 400 software companies to provide approximately 1000 business solution options. It is integrated with various POS softwares including Vend, Shopify and AlicePOS
Customizable and Flexible
Moneris offers a wide range of customizations so that you can personalize payment processing according to the requirements of your business.
How can we help you with Moneris integration
Choosing Moneris as your preferred payment processor will enable you to incorporate online credit card payments, integrate batched transactions and be able to have the payments credited into your bank account at a faster pace.
Winterwind’s seasoned team are pros at web-based development languages including Node.js, Java and PHP and are able to assist you in getting started with Moneris Gateway integration. We are focused on providing the highest level of security to reduce potential fraud risks and to improve the payment and checkout experience of your customer. To that end, we can provide the following Moneris integrations:
Direct integration - Using this integration can enable your customers to enter their payment details on your checkout page. The details are then sent through the Moneris gateway, using the Moneris API, to be processed. Once processed, the details will be sent back with confirmation immediately so that the sale is confirmed and your accounting systems are updated.
Although this type of integration is typically suited for larger ecommerce websites, we can help you customize this integration according to the requirements of your business. We can also assist you in integrating this API to support data security in order to prevent fraud risks. This will include incorporating 3D secure, address verification and card verification digits.
Hosted integration - Through this integration, we can set up the payment process to be outsourced to Moneris so when your customer is ready to checkout their cart, they will be redirected to the Moneris payment page where they can enter their payment details. Once the transaction has succeeded, your customer is redirected back to your website.
To prevent your customers from being aware of redirection, we can assist you in embedding the Moneris payment page in an iFrame. This type of integration diminishes the requirement of PCI compliance for your payment integration tool.
Hybrid integration - Through hybrid integration, we can help you with incorporating Moneris hosted tokenization which enables all payment details to be hosted on the Moneris Gateway but your customer still stays on your website. The Moneris Gateway will store the payment details and provide a temporary randomly generated token to ensure security and fraud protection. This will provide a seamless checkout to your customers without them being redirected to any other website.
Our team can provide integrations which are flexible to enable you as a business owner to only incorporate functionality that is required. Furthermore, we also provide integration of Moneris Kount Essential and Moneris Kount Enterprise to ensure high levels of fraud protection so that your ecommerce site is safe to use for your customers and is a secure payment model for your business.
Ready to integrate Moneris as your preferred payment processor for your business? Want to know more about the features of Moneris and how it works? Contact us today!