Moneris : Another Payment Processor for You
Moneris, a Canada based online Point Of Sale (POS) payment processor which you can use as the alternative payment gateway or credit card processor for your website. Moneris is more like PayPal which handles all the payments on behalf of you with a small percentage on the transaction amount. Moneris can process Credit and Debit cards from all association brands including Visa, Mastercard, American Express, Discover and Diners Club.
The Company History
Moneris Solutions is a joint investment between RBC Royal Bank and BMO Bank of Montreal (including Harris Bank) that was launched in December 2000. Moneris processes more than 3 billion credit and debit card transactions a year, for over 350,000 merchant locations across North America. They have over 1,900 dedicated employees who understand transaction processing and know how to make it work for you.
How it Works
Moneris works same as other online credit card processing solutions. It integrates with your shopping cart and process the payment. The 128 bit SSL encrypted channel ensures maximum security. The money will reflect on your Moneris account within a few minutes after transaction. You can then withdraw the money either via check or a wire transfer to your bank account.
Charges/Fees
The Merchant pays all the fees. Like PayPal, the transaction fee depends on the amount of money processed. It varies from 3% ~ 5%.
