A Canadian Subsidiary of Vantiv
Moneris Solutions is a large credit card processor based in Canada with headquarters in Toronto. The company has a U.S. subsidiary, Humboldt Merchant Services; however, the scope of this review will be for the Canadian-based Moneris (see our Humboldt Merchant Services review for more details about the U.S. company).
Moneris Solutions Payment Processing
Moneris Solutions offers comprehensive options aimed at retail, restaurant, professional service, and non-profit organizations as well as enterprise pricing for high volume merchants. Their solutions include credit card terminals, MOTO platforms, e-commerce processing, PAYD Pro mobile solutions, self-serve and kiosk solutions, the Moneris GO Marketplace, digital wallets, fraud tools, data services, cash advances, gift and loyalty programs, and iPad-based POS systems. In 2021, Moneris and BMO announced B2B Pay, an automated payment processing offering fueled by straight-through processing.
Moneris Acquisition and Ownership
Founded in 2000, Moneris is a result of a joint venture between the Royal Bank of Canada (RBC Financial Group) and BMO Financial Group, which includes Harris Bank. Moneris’s U.S. division (Moneris USA) was acquired by Vantiv in December 2016, and the company’s US-based merchants are now served by Vantiv. Angela Brown is listed as the president and CEO of Moneris, which is headquartered at 3300 Bloor Street West Toronto, ON, Canada.
Moneris Solutions Review Table of Contents
- Costs & Contract: Moneris Solutions appears to offer a three-year contract with interchange pricing and a liquidated damages-style early termination fee.
- Complaints & Service: Moneris Solutions has received more than 80 public complaints.
- BBB Rating: Moneris Solutions has 3 profiles with the Better Business Bureau and has received 9 complaints and 5 reviews across both profiles in the last 3 years. Moneris’ main profile has an “A+” rating, its second profile has an “A+“, and the profile assigned to Moneris USA also has an “A+“.
- Sales & Marketing: Moneris Solutions appears to hire independent sales agents and has received a low number of complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With Moneris Solutions