SCHAUMBURG, Ill.--(BUSINESS WIRE)--Moneris Solutions Corporation (“Moneris”), one of North America’s largest processors of debit and credit card payments, announced today it has been accredited to self-certify EMV-chip and PIN, and chip and signature terminals for five major credit card brands. With this authorization, Moneris is the only processor in North America with the ability to perform self-certification for merchants on behalf of American Express, Discover, MasterCard, Visa and Union Pay.
Today, businesses making the transition can have their EMV contact- and contactless-enabled solutions certified faster, easier and more affordably. Payment processing self-certification eliminates the need to engage third party service providers that review payment terminal tests and sign-off for these solutions to go to production. As an accredited processor for payment self-certification, Moneris is able to complete these requirements in-house, offering greater control and faster time to market.
“The ability to self-certify our EMV-ready terminals means we can work with our partners to get merchants up and running on the latest payment technology quickly and efficiently,” said Chris Lee, President of North American Strategic Partnerships and Emerging Markets at Moneris. “With this authorization we are able to provide an enhanced customer experience for businesses across North America.”
The U.S. experiences $8.5 billion in annual fraudulent transactions; however, with the migration to EMV, 92 percent of professionals believe that these chip-enabled cards will be effective in reducing point-of-sale (POS) fraud.¹ Moneris has helped more than 95 percent of its merchant base in Canada become EMV-enabled and is equipped with the necessary resources to support chip-cards in the U.S. today.
Recently, Moneris worked with Amber Systems Technologies, a leading developer of POS software for the restaurant, specialty retail, grocery and other industries, to integrate EMV chip-card acceptance into their POS restaurant management software. As a result, businesses signing up for business solutions like Vigore POS that are integrated with Moneris payments, will be ready to start processing EMV transactions faster.
“As a valued partner in payments, Moneris consistently offers innovative EMV solutions in line with industry security requirements,” said Suzanne Chen, Chief Financial Officer at Amber Systems Technologies. “We are pleased that Moneris is the first North American processor to be accredited for payment processing self-certification with five major card brands and are confident in their ability to support the continued transition to EMV devices in the U.S. market.”
Moneris is a trusted partner in navigating the ever-changing payments market and excels with the implementation and self-certification of EMV payment solutions. To find out more about payment processing solutions that Moneris has to offer, visit www.monerisusa.com/emv.
As one of North America's largest providers of payment processing solutions, Moneris Solutions Corporation (“Moneris”) offers credit, debit, wireless and online payment services for merchants in virtually every industry segment and processes more than three billion transactions, annually. Moneris also offers electronic loyalty and stored-value gift card programs. With more than 350,000 merchant locations, Moneris provides the hardware, software and systems needed to improve business efficiency and manage payments. For more information please visit www.moneris.com.
¹Source: 2015 Payments Fraud and Control Survey, Association for Financial Professionals, March 2015