The implementation of ACI Acquirer provided Moneris with a cost savings of over ten million dollars in less than two years. In addition, ACI's Proactive Risk Manager has continued to reduce merchant fraud losses by 25 percent year-over-year.
Moneris is now supporting more than 300,000 merchant locations with the ACI solutions and has developed a strong relationship with ACI that is building mutual trust, reliability and flexibility.
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Merchant fraud losses decrease 25% at Moneris
Industry Complexity Threatens In-House Payments Platform
Four years ago card associations introduced changing interchange levels that created increased complexity. At that time Moneris was using an in-house platform that was extremely reliable and more than capable of handling the current interchange requirements. However, the ability to handle the new levels of complexity to keep up with regulatory, merchant and card requirements wasn’t supported. Moneris needed to stay ahead of change in order to grow and meet merchant requirements now and well into the future.
BASE24 Supports Evolving Interchange Requirements
The new functionality allows Moneris to develop multiple rates and fees, varying threshold amounts for fee changes and rebates for individual merchants. This flexibility allows Moneris to offer solutions to an entirely new category of merchants that they couldn’t previously address. Moneris was able to migrate hundreds of thousands of merchants to the new solution over a weekend without a single problem.
Moneris migrated its U.S. business onto the system and created a consistent process across the company’s different businesses. Over time Moneris integrated the ACI solutions into other systems’ back-office systems, including their data warehouse, allowing them to turn individual pieces of data into actionable knowledge.
ACI Solution Pays for Itself in 2 Years, Saving $10 Million
With ACI Acquirer the payback time was less than two years with a savings of over 10 million dollars. Moneris also receives ongoing benefits from the solution’s ability to support evolving interchange requirements and the continued growth in new merchants. It is this savings that directly contributes to Moneris’ ability to successfully grow earnings.
A combination of ACI solutions provides Moneris with an even greater return on investment. Improved merchant data and dialogue has enabled Moneris to reduce average call times and increase merchant satisfaction. Moneris is now supporting over 300,000 locations and over 3 billion transactions a year with the ACI solutions.