Moneris Solutions Helps Merchants Overcome Challenges of Debit Acceptance with Enhanced Offering.CHICAGO -- Moneris' Comprehensive Debit Program Provides Access to Multiple Networks and Supports Online and Offline Transactions Moneris Solutions, one of North America's largest electronic transaction processors, today announced the delivery of its enhanced debit program, which provides access to multiple networks and enables merchants to accept online and offline debit cards Offline Debit Card A card that combines characteristics of both a traditional (online) debit card and a credit card, allowing the cardholder to pay for goods and services directly from his or her bank account. . Debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. usage in the United States has grown rapidly during the past decade. Packaged Facts, a market research publisher, says the debit card has grown from accounting for 274 million transactions in 1990 to 10.47 billion transactions in 2003. According to payments industry newsletter, The Nilson Report, the number of debit cards in circulation worldwide reached one billion in 2003 and debit card sales volume will double by 2007. "Debit cards have become the fastest-growing consumer payment method and an essential revenue-generating tool for merchants," said Larry Wine, president of Moneris Solutions U.S. Group. "Although the acceptance of debit transactions is relatively similar to that of credit card transactions, merchants are often challenged by the regional limitations of some debit networks as well as the requirements of online transactions." "Our flexible debit acceptance program helps merchants overcome these challenges to quickly begin experiencing the benefits of reduced costs, increased sales and increased customer loyalty. We are committed to providing our merchants with the full range of point-of-sale solutions - from credit and debit to gift and loyalty - they need to sustain a competitive edge," continued Wine. Accepting debit and ATM cards for payment enables merchants to provide their customers with additional flexibility. Moneris' enhanced debit offering supports: Access to multiple debit/ATM networks: No matter where in the U.S. a merchant's business is located, Moneris Solutions has national and regional networks that support debit card processing. Moneris provides access to major debit card networks, including Interlink INTERLINK - A commercial product comprising hardware and software for file transfer between IBM and VAX computers. , Maestro, NYCE See New York Cotton Exchange. NYCE See New York Cotton Exchange (NYCE). , PULSE (TYME TYME Take Your Money Everywhere ), SHAZAM SHAZAM Solomon, Hercules, Atlas, Zeus, Achilles, Mercury (Captain Marvel's Elders) SHAZAM Selena, Hippolyta, Ariadne, Zephyrus, Aurora, and Minerva (Captain Marvel comics, deities that supported Mary Marvel) , STAR (Honor, MAC, Cash Station), and AFFN AFFN Armed Forces Financial Network AFFN AdultFanFiction.Net AFFN Acrofrontofacionasal Dysostosis Syndrome . Online Debit Transaction: An online debit transaction occurs when a cardholder's debit card is swiped and a Personal Identification Number (PIN) is used to authenticate the transaction. Moneris delivers the pinpad, a piece of encrypted hardware, required to support this type of debit transaction. The Moneris debit program supports a broad range of terminals and pin pads available for use on Paymentech, Vital, and First Data Merchant Services (FDMS FDMS Federal Docket Management System (US) FDMS First Data Merchant Services FDMS Farm Debt Mediation Service (Canada) FDMS Flight Data Management System ). Offline Debit Transaction: Offline debit cards with the VISA(R) or MasterCard(R) logo on the front of the card can be accepted just like a Visa or MasterCard credit card. Acceptance of these cards does not require a pinpad and can be used as a debit card for online transactions, or as a credit card for offline transactions. Merchants can turn to Moneris for all point-of-sale payment needs. Moneris Solutions delivers point-of-sale hardware, proprietary software, e-commerce solutions, Web-based financial reporting, and the necessary services and support so that merchants can be equipped to accept credit and debit cards as well as paper and electronic checks. In addition to payment processing solutions, Moneris also offers gift and loyalty programs. About Moneris Solutions Moneris Solutions (www.monerisusa.com) has a 30-year history as one of North America's largest electronic transaction processors, delivering advanced payment card processing capabilities through point-of-sale hardware, payment processing software, e-commerce solutions and a gift and loyalty program. Moneris provides transaction-processing services nationwide through numerous agent banks and serves the small to medium-sized business market through direct sales and strategic partnerships. A joint investment of the Royal Bank of Canada Bank of Canada Canada's central bank, established under the Bank of Canada Act (1934). It was founded during the Great Depression to regulate credit and currency. The Bank acts as the Canadian government's fiscal agent and has the sole right to issue paper money. and the Bank of Montreal “BMO” redirects here. For the mathematics competition, see British Mathematical Olympiad. Bank of Montreal/Banque de Montréal (TSX: BMO, NYSE: BMO) is Canada's fourth largest bank[1], and is classified as a Domestic Chartered Bank (Schedule I). , which have assets in excess of $700 billion, Moneris Solutions serves more than 350,000 North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. merchant locations and has a staff of over 1,100 employees. U.S. headquarters are located outside of Chicago, IL. |
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