Overview of Moneris
Moneris is a leading Canadian-based organization specializing in payment processing. With a dedicated commitment to innovation and advanced technology, Moneris provides businesses of all sizes the tools necessary to manage and streamline their payment processing needs. From point-of-sale (POS) solutions to e-commerce platforms, Moneris provides a variety of services that make it easier for businesses to accept payments, while also ensuring the utmost level of data security.
History of the Company
Moneris was founded in December 2000 as a joint venture between the Royal Bank of Canada (RBC) and the Bank of Montreal (BMO). By acquiring the merchant acquiring businesses from both RBC and BMO, Moneris was able to immediately establish itself as a significant player in the payment processing industry in Canada. Today, Moneris is recognized as one of North America's largest payment processors, processing over 3 billion transactions a year for over 350,000 merchant locations.
Typical Data Processed by Moneris
Moneris processes various types of data as a part of their services. This typically includes transaction data such as the date, time, and value of each payment, along with information from the payment device, such as a credit card number or a mobile wallet ID. Additionally, Moneris also processes customer data to provide personalized buying experience and help businesses improve their customer engagement.
Where Moneris operates
While headquartered in Toronto, Canada, Moneris also has operations in the United States, offering end-to-end payment processing solutions to North American merchants. Operating under a variety of brand names, including Moneris Solutions Corporation in Canada and Moneris USA in the United States, the company maintains a significant presence in the North American payment processing industry.
Key features of Moneris
Moneris offers multiple key features to businesses. This includes integrated POS solutions, allowing businesses to accept a wide range of payment types in any environment - in store, online, or mobile. The company also provides comprehensive online reporting tools, giving businesses real-time insight into their transaction data. In addition, Moneris places a strong emphasis on security, offering fraud detection services and ensuring compliance with PCI-DSS standards.
Monitoring and comparing vendors like Moneris from a data compliance perspective is crucial for businesses. Maintaining regulatory compliance is no longer optional in today's digital landscape, and breaches can result in significant fines and reputation damage. Therefore, using a vendor that respects and adheres to data governance guidelines is not only beneficial but necessary. With a powerful payment processor like Moneris that prioritizes data security, businesses can ensure they meet their regulatory obligations and protect sensitive client data.