Moneris Review (Canada)

Pros

• Wide range of payment hardware
• Flat-rate or interchange-plus pricing
• Extensive online help center
• 24/7 customer support

Cons

• Contract and cancellation fees vary by account
• Custom quote required
• Mixed reports on customer support

What Is Moneris?

Moneris is Canada’s largest merchant acquirer. The company offers a broad range of in-person, online, mobile, and omnichannel payment solutions. Businesses can choose from payment terminals, POS systems, eCommerce tools, integrations, and flat-rate or interchange-plus pricing.

Moneris is best suited to established Canadian businesses that want a large provider with extensive hardware and software options. However, pricing and contract terms are not fully standardized or disclosed online, so merchants should request a complete quote and review the agreement carefully before signing up.

Smaller businesses that prioritize simple pricing and month-to-month service may want to see out what Helcim has to offer.

Products & Services

Moneris offers a wide range of payment processing, POS, and eCommerce solutions for Canadian businesses.

• Merchant Accounts: Moneris provides dedicated merchant accounts and processes in-person and online credit and debit card transactions.
• Payment Terminals: The Moneris Go Terminal is a portable, touchscreen device with Wi-Fi and cellular connectivity, a built-in receipt printer, and support for chip, contactless, and magnetic-stripe payments. Moneris also offers other countertop and mobile terminal options.
• Tap To Pay: Businesses can accept eligible contactless cards and mobile wallets directly on a compatible iPhone or Android device without a separate card reader.
• Retail POS: Moneris Go Retail POS combines the Go Terminal with browser-based software for checkout, inventory management, customer insights, and reporting.
• Restaurant POS: Moneris Go Restaurant POS is designed for quick-service restaurants, cafés, and bakeries, with menu management, order tracking, employee permissions, and optional restaurant hardware.
• Omnichannel POS: Moneris Total Commerce combines in-store and online sales, inventory, and reporting in one system.
• Online Payments: Moneris Online provides an eCommerce platform, while Moneris Gateway allows businesses to add payment processing to an existing website or application. Features include tokenization, recurring billing, digital wallet support, and fraud-management tools.
• Reporting & Integrations: Merchants can manage transactions and account settings through Moneris Portal and Go Portal. Developers can access APIs, documentation, and integration tools through the Moneris Developer Portal.

Moneris Fees & Rates

Moneris offers two main pricing options: flat-rate pricing and Simplified Pricing, the company’s version of interchange-plus pricing.

Current flat-rate pricing includes:

• Card-present credit transactions: 2.65% + $0.10
• Card-not-present credit transactions: 2.85% + $0.30
• In-person Interac debit transactions: $0.12
• Card-not-present Interac debit transactions: $1.00

Moneris also charges a 0.80% fee for foreign-card transactions under its flat-rate plan.

Simplified Pricing separates interchange, card-network assessments, and Moneris’ transaction fee. Rates depend on your business type and processing volume, so you’ll need to contact Moneris for a customized quote.

Hardware and software costs vary by product. Businesses may also pay terminal rental, POS software, gateway, PCI compliance, chargeback, and other account fees depending on the services included.

Moneris does not publish a complete standard fee schedule online. Request a written quote showing all processing rates, recurring fees, equipment costs, and cancellation charges before opening an account.

Canadian merchants also receive protections under the Code of Conduct for the Payment Card Industry in Canada. Among other requirements, the Code calls for clear fee disclosures, advance notice of applicable pricing changes, merchant choice over accepted payment methods, and penalty-free cancellation rights in certain circumstances.

Contract Length & Early Termination Fee

Moneris does not publish one standard contract term or early termination fee that applies to every merchant. Your initial term, renewal date, cancellation requirements, and any applicable fees should appear in the Card Acceptance Form and Information Summary Box included with your agreement.

Canadian merchant protections limit automatic renewals of fixed-term payment processing agreements to periods of six months or less. Merchants may provide notice of non-renewal at any point during the agreement, provided it is submitted at least 45 days before the renewal date.

The Code of Conduct also allows merchants to cancel without penalty in certain situations involving new or increased processing fees. However, this protection does not replace the normal cancellation terms in your agreement.

Before signing up, confirm:

• The initial contract length
• The renewal terms
• How much notice is required to cancel
• Any early termination or equipment cancellation fees
• Whether processing and terminal agreements have separate terms

Get any promised fee waiver or contract change in writing. Businesses that prefer fully disclosed month-to-month service may find another provider easier to evaluate.

Sales & Advertising Transparency

Moneris has a polished website with detailed product pages, educational resources, and an extensive online support center. The company also publishes its standard flat-rate transaction pricing and explains how its interchange-plus Simplified Pricing model works.

However, pricing transparency is still incomplete. Moneris does not publish customized transaction markups, a complete account fee schedule, or standard contract and cancellation terms. Many businesses will need to speak with a sales representative and request a written quote to understand their total cost.

We found no major misleading rate claims on the Moneris website. Still, merchants should confirm all processing rates, recurring fees, equipment costs, contract terms, and promised waivers in writing before opening an account.

Customer Service & Technical Support

Moneris provides 24/7 technical support by phone, along with live chat and callback options through its website. Support for billing, deposits, account changes, and other business inquiries may have more limited hours.

The company also maintains an extensive online help center with terminal manuals, setup instructions, troubleshooting guides, and resources for its payment and POS products.

Customer feedback regarding Moneris support is mixed. Some merchants report helpful service, while others describe long resolution times or difficulty getting assistance with billing, account restrictions, and cancellations.

Moneris Solutions Reviews, Complaints, & Testimonials

While Moneris Solutions has received its fair share of criticism from merchants over the years, the company’s overall complaint volume is surprisingly low relative to its size.

Moneris also responded to almost all of its BBB complaints, usually offering refunds or trying to resolve the situation appropriately.

Negative Reviews & Complaints

Issues that came up frequently in Moneris reviews included the following:

• Undisclosed early termination fees
• Undisclosed automatic renewals
• Poor customer support

Positive Reviews & Testimonials

Positive reviews praise Moneris for:

• Helpful customer support reps
• Easy setup
• Excellent retail features

Final Verdict On Moneris

Moneris offers one of the most solid payment product lineups available to Canadian businesses. Its options include countertop and mobile terminals, retail and restaurant POS systems, Tap to Pay, eCommerce tools, payment gateways, and developer integrations.

The company is a practical choice for established Canadian businesses that want to manage multiple payment channels through one large provider. Its published flat-rate pricing, interchange-plus option, 24/7 technical support, and extensive online knowledgebase are also notable strengths.

However, Moneris does not fully disclose customized rates, account fees, or standard contract terms online. Businesses must request a quote and review the Information Summary Box and merchant agreement carefully to understand the total cost, renewal terms, and cancellation requirements. Customer feedback regarding support and account resolution is also mixed.

Overall, Moneris is best suited to established or growing businesses that value a wide range of products and are comfortable negotiating a customized agreement. Smaller businesses looking for fully transparent pricing and simpler month-to-month terms may prefer another Canadian payment processor.

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