Moneris Merchant Services Review

Pros

Moneris was formed from the Royal Bank of Canada and the Bank of Montreal joining their merchant services divisions. For Canadian users, you will likely not find a better website, everything is clear and laid out, with all the information you could want. Retail merchant services customer reviews indicate that, unlike some like CoCard Merchant Services, Moneris is great at providing the customer service merchants expect, and resolve issues in a timely fashion. They offer mobile payment swipers, and an app to go with them, as well as POS software, ecommerce services, and deals on merchant supplies.

Cons

There are some issues with Moneris. Their US division was purchased by Vantiv, though they still use the same information on their website as Moneris had before the sale took place. Since the purchase there has been an uptick in user complaints regarding customer service, but it is difficult to tell which country these complaints originated from. Another complaint comes from Moneris taking liquidated damages for early termination. Failure to disclose early termination fees is a big red flag in any industry, and merchant services is no different. It’s one of the best things to look for when you’re deciding how to choose a merchant service provider, as it indicates the general attitude the company has towards its clients.

Verdict

It’s hard to pass an even judgement on Moneris, their Canadian division seems to be top notch and their US services seem to be sub-par. If you live or do most of your business in Canada they might be worth looking into.