Moneris Solutions

From Wikipedia, the free encyclopedia

Moneris Solutions
Solutions Moneris
Type Joint venture
Founded Toronto, Ontario, Canada, 2000
Headquarters Toronto, Ontario
Schaumburg, Illinois
Key people James W. Baumgartner - President & CEO
Industry Bank
Products Credit/Debit Card Acquiring Services
Parent RBC Royal Bank
BMO Bank of Montreal
Website http://www.moneris.com/

Moneris Solutions is Canada’s largest processor and acquirer of debit and credit card payments. Moneris was established in December 2000 as a joint investment between RBC Royal Bank and BMO Bank of Montreal. Moneris is headquartered in Toronto, Ontario and has a contact centre in Sackville, New Brunswick. Moneris’ U.S. operations (formerly known as Harris Bank Merchant Services/The Charge-It-System) are based in Schaumburg, Illinois. In 2003, Moneris acquired Ernex Marketing Technologies. Moneris' Ernex division offers electronic loyalty and gift card programs.

Moneris processes more than 2.5 billion transactions a year for over 350,000 merchant locations. Moneris employs approximately 1,100 people across North America.

[edit] Timeline

1992 - Developed stand alone point-of-sale (POS) device for debit and credit processing which became the standard in the Canadian marketplace for Interac Direct Payment

1993 – Implemented the first host-to-host link for Interac Direct Payment

1994 – Processed the first Interac Direct Payment transaction via satellite

1995 – Created the “Fast Lane” automated POS debit/ credit ticketing kiosk

1996 – Developed and implemented a signature capture device to support PIN entry

1996 – Developed the first Interac Direct Payment in gas pump dispensers

1997 – Co-developed the first POS integrated debit/credit and Mondex Smart Card solution

1997 – Co-developed and executed the first Secure Electronic Transaction (SET) with technology partners IBM, UUNET, and Verifone

1997 – Developed the first domestic VISA merchant U.S. dollar settlement

1998 – Developed the first multiple merchant debit card acceptance kiosk

1999 – Co-developed POS touch screen stand-alone terminal

2000 – Became the first Canadian company to offer both VISA and MasterCard merchant accounts in one single point of contact

2001 – Performed the first “Verified by VISA (VBV)” online cardholder authentication transaction

2003 – Acquired Ernex, the gift card and loyalty program specialists

2004 – Launched Moneris’ Private IP Network designed exclusively to process payment transactions

2005 – Processed Canada’s first Visa certified EMV transaction

2005 – Processed Canada’s first Interac Online transaction

2007 – Became one of the first acquirers in Canada to be certified by Interac Association, MasterCard and VISA to deliver Chip technology

2008 – Acquired Keycorp Canada, one of the largest providers of POS support services

[edit] References