Moneris is the first acquirer in Canada to enable a full UnionPay processing solution
TORONTO, Nov. 27, 2014 /CNW/ - Moneris Solutions Corporation ("Moneris"), Canada's largest credit and debit card processor, today announced the availability of UnionPay card acceptance for merchants across Canada by partnering with UnionPay International. Moneris is the first Canadian acquirer to offer a full processing solution for the UnionPay card portfolio, including all of their domestic- and internationally-issued debit and credit cards.
UnionPay is a fast-growing global payment brand with 4.5 billion cards issued globally. With an international card acceptance network of more than 140 countries and regions, UnionPay represents the world's largest cardholders group.1
"We have seen tremendous growth in the number of Chinese visitors coming to Canada for work, travel and study," says Jeff Guthrie, Chief Sales and Relationship Officer. "UnionPay card acceptance helps merchants meet the growing demand for Chinese visitors' payment method of choice and provides them with a greater business opportunity."
Full integration with Moneris payment applications and processes enables merchants to accept UnionPay cards like any other credit or debit card. Seamless processing allows for quick transaction settlement and integrated reporting for reconciliation of all card brand transactions. Moneris also offers full operational support for any issues arising with the UnionPay network, including chargebacks and dispute resolution.
"The partnership between UnionPay and Moneris provides a more convenient payment experience for the large concentration of our cardholders in Canada," says Larry Wang, Chief Business Development Officer of UnionPay International. "We are committed to meeting the cross-border demand of cardholders, and anticipate the rapid expansion of UnionPay card acceptance in Canada."
UnionPay card processing is available immediately on select Moneris point-of-sale (POS) terminals and for integration with custom POS solutions. Customers can contact their Moneris representative for more information.
About Moneris Solutions
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 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 UnionPay International
UnionPay International is a subsidiary of China UnionPay focused on the growth and support of UnionPay's global business. In partnership with more than 300 institutions worldwide, UnionPay International has enabled card acceptance in over 140 countries with issuance in more than 30 countries. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world's largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.
SOURCE: Moneris Solutions
For further information: For media enquiries, please contact: Aimee Lazarus, Director of Communications, Moneris Solutions, 416.734.1062, [email protected]; Katherine Heydon, FleishmanHillard, 416-645-3665, [email protected]