STATEMENT BY MONERIS SOLUTIONS CORPORATION AND THE CANADIAN FEDERATION OF INDEPENDENT BUSINESS

TORONTO, Feb. 24 /CNW/ - Moneris Solutions Corporation (Moneris) and the Canadian Federation of Independent Business (CFIB) are both committed to the success of small business owners and fully support the Voluntary Code of Conduct for the Credit and Debit Card Industry in Canada.

Moneris is dedicated to providing clarity to its merchants regarding the cost associated with processing payments. Moneris informed merchants of revised pricing in December 2010 to better align the cost of processing payments with the types of cards they accept and the way they process payments.

Moneris will provide merchants with an extended 90 day review period waiving cancellation fees associated with termination during the extension beginning April 1, 2011 and ending June 30, 2011, giving merchants more opportunity to assess the impacts of the revised pricing. CFIB has also announced that it will withdraw its concerns raised with the Financial Consumer Agency of Canada (FCAC).

Moneris and CFIB are pleased to work co-operatively, on behalf of small businesses and merchants across Canada.

About Moneris Solutions
As one of North America's largest providers of payment processing solutions, Moneris offers credit, debit, wireless and online payment services for merchants in virtually every industry segment and processes more than three billion transactions annually. Through its Ernex division, Moneris 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

About the Canadian Federation of Independent Business (CFIB)
As Canada's largest association of small- and medium-sized businesses, CFIB is Powered by Entrepreneurs™. Established in 1971, CFIB takes direction from more than 108,000 members in every sector nationwide, giving independent business a strong and influential voice at all levels of government and helping to grow the economy. www.cfib-fcei.ca

SOURCE MONERIS SOLUTIONS CORPORATION

For further information:

David Ades
Moneris Solutions
416.734.1246  

Dan Kelly
CFIB
613.235.2373

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MONERIS SOLUTIONS CORPORATION

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