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Moneris live with Euronet acquiring system

24 July 2007  |  2035 views  |  0 Source: Euronet Worldwide

Euronet Worldwide's (Nasdaq: EEFT) subsidiary, Euronet Essentis, a leading international provider of Card Issuing and Merchant Acquiring solutions, today announced that Moneris Solutions, the merchant processing joint venture between Royal Bank of Canada and Bank of Montreal, is live with Essentis Acquirer.

The live conversion was successfully completed on June 1st , following a major integration project for the complete replacement of the Moneris back-end processing platform. The solution included a migration in excess of 480,000 merchants and processes an average daily transaction volume of 7.5 million.

Moneris provides businesses with technologically advanced, easy to use, point-of-sale solutions designed to electronically process and authorize credit and debit card transactions, including customized loyalty card transactions. Through the use of the Essentis Acquiring solution, Moneris' leveraged leading-edge technology to help their merchants streamline payment processing and improve business efficiency.

Jeff Guthrie, Chief Operating Officer of Moneris Solutions, said "We chose Essentis Acquirer because of its wide range of functionality. By converting our portfolio and operations to the Essentis Acquirer solution we can achieve greater operational efficiency and meet the changing needs of the marketplace. We are particularly pleased that that the migration of our large merchant base was accomplished without any disruption in service. This successful implementation is a reflection of the strength of Moneris' partnership with Euronet."

"Moneris Solutions required a highly flexible and sophisticated processing solution to support its back-office merchant acquiring activities," commented Cindy Ashcraft, Managing Director of Euronet Software Segment. "The Essentis Acquirer module provides that solution, giving Moneris Solutions unrivalled functionality to support their business expansion."

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