Moneris
- Moneris is Canada's largest payment processor, jointly owned by RBC and BMO. It processes nearly 5 billion transactions annually across 325,000+ merchant locations
- Processing rates start at 2.65% + $0.10 card-present and 2.85% + $0.30 card-not-present on flat-rate plans, with interchange-plus pricing available for higher volume
- Moneris has deep Interac Debit support - Interac debit transactions process at flat per-transaction fees, making them significantly cheaper than credit
- The main trade-off: Moneris hardware and contracts are less flexible than Square or Stripe. Best for established Canadian businesses wanting a domestic processor with bank-backed support
Moneris Solutions Corporation is Canada's largest payment processor, handling one-third of all card transactions in the country. It's the domestic default for Canadian businesses the way Chase Payment Solutions is in the US - deeply integrated with the banking system, strong in card-present, and built for businesses that want a Canadian-headquartered processor with local support.
On this page
When to Use Moneris
You should use Moneris if:
- You're a Canadian business wanting a domestic processor
- You process significant Interac debit volume (Moneris has the deepest Interac integration)
- You want interchange-plus pricing with a Canadian processor
- You need bilingual (English/French) support and POS interfaces
- You're an existing RBC or BMO business banking customer (integrated onboarding)
- You operate multiple Canadian locations and need fleet terminal management
Skip Moneris if:
- You're primarily online-only - Stripe has better developer tools and API
- You want the simplest possible setup - Square is faster to start
- You're a US business with no Canadian presence - use a US-native processor
- You need advanced e-commerce features (cart integrations, subscription billing) - Stripe or Shopify Payments is better
- You're budget-constrained and doing low volume - Square has no monthly fees
Pricing Breakdown
Processing Rates
Moneris offers both flat-rate and interchange-plus pricing:
Flat-Rate (Moneris Go plans):
| Transaction Type | Rate | Notes |
|---|---|---|
| Card-present (tap/insert) | 2.65% + $0.10 | Interac debit is cheaper (see below) |
| Card-not-present (online) | 2.85% + $0.30 | E-commerce, manual entry |
| Interac debit (in-store) | ~$0.12 per transaction | Flat fee, dramatically cheaper than credit |
Interchange-Plus (negotiated):
| Component | Typical Markup | Notes |
|---|---|---|
| Interchange passthrough | Varies by card | Visa, Mastercard, Amex at published rates |
| Moneris markup | 0.20-0.40% + $0.05-0.10 | Depends on volume and negotiation |
| Interac debit | ~$0.05-0.07 per transaction | Always flat fee |
Monthly Fees
| Plan | Monthly Fee | Includes |
|---|---|---|
| Moneris Go | ~$29.95/month | Terminal rental, basic processing |
| Moneris Go Plus | ~$34.95/month | Enhanced terminal, reporting |
| Custom/Enterprise | Negotiated | Multi-location, advanced features |
| Terminal rental | $20-50/month per terminal | If not on a bundled plan |
Hardware
| Device | Price/Rental | Best For |
|---|---|---|
| Moneris Go Terminal | ~$29.95/month rental | Countertop, 5" touchscreen |
| Moneris Go Plus (DX8000) | ~$34.95/month rental | 6" touchscreen, Android-based, portable |
| Moneris Go PIN Pad | Rental | Integrated PIN pad for POS systems |
What Moneris Does Well
1. Interac Debit Integration
Moneris has deep integration with the Interac network for processing debit transactions at the point of sale. While credit cards are the most popular payment method in Canada overall, many in-store transactions are paid with Interac debit - and these cost dramatically less to process.
Why this matters:
- Interac debit transactions cost a flat ~$0.12 each on Moneris flat-rate plans (not a percentage)
- On a $100 purchase, Interac debit costs you ~$0.12 vs ~$2.75 for Visa credit
- Moneris has the most reliable Interac processing infrastructure in Canada
- If a significant portion of your in-store volume is Interac debit, Moneris can be cheaper than flat-rate processors that charge a percentage on all transactions
2. Canadian Banking Integration
As a joint venture of RBC and BMO:
- Direct integration with two of Canada's Big Five banks
- Faster settlement for RBC/BMO business account holders
- Combined banking + processing relationship management
- Canadian-dollar settlement (no FX conversion)
3. Multi-Location Fleet Management
Moneris excels at managing terminal fleets across multiple Canadian locations:
- Centralized terminal management dashboard
- Remote firmware updates
- Consistent terminal experience across locations
- Dedicated account management for multi-location merchants
4. Canadian Compliance and Support
- Fully compliant with Canadian privacy law (PIPEDA) and payment regulations
- Bilingual support (English/French) - required for Quebec operations
- PCI-compliant terminals and gateway
- Canadian data residency (transaction data stays in Canada)
What Moneris Does Poorly
1. E-Commerce and Developer Experience
Moneris's online tools lag behind Stripe and Shopify Payments:
- API documentation is less developer-friendly
- Fewer pre-built integrations (Shopify, WooCommerce plugins exist but aren't as polished)
- No equivalent to Stripe Elements or Stripe Checkout
- Online payment experience feels dated compared to modern alternatives
2. Contract Flexibility
Traditional processor contracts apply:
- Multi-year contracts are common (often 3 years)
- Early termination fees ($250-300 per location)
- Equipment leasing traps (terminal leases can be 4-5 years, non-cancellable)
- Less transparent than Square or Stripe's month-to-month model
Always ask: "Can I get month-to-month? What's the early termination fee?"
3. Pricing Transparency
Unlike Square (flat rate published online) or Helcim (interchange-plus published online):
- Moneris pricing often requires a sales call
- Rates vary by sales rep, volume, and negotiation
- Statement format can be complex for IC+ plans
- Hard to compare apples-to-apples without a quote
4. Limited International Reach
Moneris is a Canadian-only processor:
- Moneris sold its US operations (Moneris USA) to Vantiv in 2016
- No global acquiring like Adyen or Stripe
- Cross-border processing is possible but not a strength
- If you're expanding beyond Canada, you'll need a second processor
Moneris vs. Square vs. Stripe (for Canadian Businesses)
| Factor | Moneris | Square | Stripe |
|---|---|---|---|
| CP rate | 2.65% + $0.10 (credit), ~$0.12 (Interac) | 2.5% (no per-txn fee) | 2.6% + $0.10 |
| CNP rate | 2.85% + $0.30 | 3.3% + $0.30 (Free plan) | 2.9% + $0.30 |
| Interac debit cost | ~$0.12 flat | 0.75% + $0.07 | Included in rate |
| Monthly fee | ~$30-35 (terminal rental) | $0 | $0 |
| Contract | Often multi-year | Month-to-month | Month-to-month |
| Setup speed | Days to weeks | 15 minutes | 1-3 days |
| E-commerce | Basic | Square Online | Best-in-class |
| Developer tools | Basic API | Limited | Best-in-class |
| Interac support | Deepest | Good | Good |
| French support | Full bilingual | Limited | Limited |
| Best for | High-volume CP, multi-location | Simple retail, quick start | Online, developer-led |
Bottom line:
- Moneris wins for established Canadian businesses with multiple locations and high card-present volume
- Square wins for simplicity and low-volume Canadian businesses
- Stripe wins for online-first Canadian businesses and developers
The Interac Advantage (Why It Matters)
Canadian merchants who accept Interac debit have a cost advantage on those transactions compared to US merchants. Unlike the US, where debit routes through Visa/Mastercard networks (even with Durbin caps), Canadian Interac debit transactions process at flat per-transaction fees through the Interac network.
| $100 Transaction | US Regulated Debit | Canadian Interac Debit |
|---|---|---|
| Cost | $0.26 (0.05% + $0.21) | ~$0.05-0.12 |
| Network | Visa/MC debit | Interac |
| Pricing model | Percentage + fixed | Flat fee only |
For a Canadian business where a portion of in-store transactions come through Interac debit, the savings add up. The exact benefit depends on your debit vs credit mix - which varies widely by business type. Grocery stores and convenience stores tend to see more debit; restaurants and specialty retail see more credit.
Understanding your debit vs credit mix is the first step to knowing whether Interac pricing is a meaningful advantage for your business.
Who Moneris Is Best For
Perfect Fit
| Business Type | Why Moneris Wins |
|---|---|
| High-volume Canadian retail | Multi-location fleet management, competitive Interac debit rates |
| Grocery/convenience stores | Higher debit mix benefits from flat Interac fees |
| RBC/BMO business customers | Integrated banking + processing, faster settlement |
| Multi-location chains | Centralized management, consistent terminal experience |
| Quebec businesses | Full bilingual POS and support (legally required) |
Poor Fit
| Business Type | Better Alternative |
|---|---|
| Online-only Canadian business | Stripe |
| Simple retail, low volume | Square |
| Shopify store | Shopify Payments |
| US-only business | Stripe, Square, or US-native processor |
| Global e-commerce | Stripe or Adyen |
Common Gotchas
1. Terminal Leasing Traps
Moneris (and its resellers) sometimes offer terminal leases instead of purchases:
- Lease terms can be 4-5 years, non-cancellable
- Total lease cost often 3-5x the purchase price
- Always ask to buy terminals outright or use month-to-month rental
2. Contract Auto-Renewal
Multi-year contracts often auto-renew:
- Mark your contract end date in your calendar
- Give notice 60-90 days before expiration (check your contract terms)
- Negotiate month-to-month at renewal
3. Rate Creep
Like many traditional processors:
- Rates can increase with 30-60 days notice
- Review statements quarterly for unexplained fee increases
- Compare your effective rate (total fees / total volume) monthly
4. Reseller vs. Direct
Moneris sells through both direct sales and ISOs/resellers:
- Resellers may add markup above Moneris's rates
- Terms and support quality vary by reseller
- Going direct to Moneris gives you more transparent pricing
Next Steps
Considering Moneris?
- Get a direct quote from Moneris (not a reseller) for your volume
- Calculate your Interac debit percentage - this determines if Moneris's pricing advantage applies
- Compare total cost (processing + monthly + hardware) vs Square and Stripe
- Ask about month-to-month contracts and terminal purchase options
Already on Moneris?
- Check your effective rate: total processing fees / total volume
- If on flat-rate, ask about interchange-plus (especially if doing $25K+/month)
- Review your contract for auto-renewal dates
- Verify you're getting the best Interac debit rate
See Also
- Square - Simpler alternative for Canadian businesses
- Stripe - Better for online-first Canadian businesses
- Processor Comparison - Full comparison table including Canadian options
- Card Payments - Card types and interchange
- Debit Routing - US debit routing (compare to Canadian Interac)