Moneris Launches PAYD Product Family Empowering Businesses to Accept Payments Anywhere in the U.S.

Moneris Solutions Corporation (“Moneris”), one of North America’s leading credit and debit card processors, announced the availability of the PAYD product family for the U.S. market. PAYD Pro and PAYD are two innovative smartphone-based mobile point-of-sale (mPOS) solutions that empower merchants to process secure payments from anywhere and everywhere they do business.

“Moneris is pleased to be one of the first to bring an EMV-enabled mPOS solution to the U.S. market,” said Chris Lee, President of North American Strategic Partnerships, Moneris. “PAYD Pro offers the latest security features and payment technology, while providing the convenience of quick and efficient mobile transactions. It gives merchants greater flexibility in payment acceptance, while fulfilling consumer preferences and improving customer experience.”

PAYD Pro and PAYD help small to mid-size businesses drive more sales and are essential business tools for this market. PAYD Pro pairs the PAYD App with a portable Bluetooth-enabled PAYD PIN pad, enabling businesses on-the-go to turn their smartphone or tablet into an easy-to-use mPOS device that supports EMV-chip and signature, contactless and swipe debit and credit card transactions.

Moneris is working with BMO Harris Bank to offer both solutions to its business customers.

“At BMO Harris Bank we align our small business customers with payment solutions that complement and address their needs,” says David Martin, Senior Product Manager and Vice President BMO Harris Bank. “Moneris’ PAYD Pro bridges the gap between POS technology available to these smaller merchants and their larger-scale competitors. We are excited to support PAYD Pro as it can provide our clients with a secure payment processing environment that expands the type of payments they can accept, anywhere they do business.”

In October 2015, the card associations are shifting the liability for certain types of credit card fraud from card issuers to businesses that are unprepared to accept EMV payments. PAYD Pro offers merchants a quick and simple way to make the transition to EMV ahead of the impending liability shift, while providing them with essential business and payment processing tools.

Moneris offers the latest security practices including card data encryption at the point of sale. Advanced security protocols prohibit unauthorized access so small to mid-sized merchants can confidently process card brands including Visa, MasterCard, Discover and American Express with PAYD Pro.

The innovative PAYD app also allows businesses to enhance cash flow, access real-time reporting and send digital receipts in an instant via email. It provides merchants with the flexibility to increase their customer-base outside of an established storefront environment, transforming not only the way they process payments, but how they do business.

Along with PAYD Pro, Moneris also offers PAYD, an mPOS solution that processes credit card transactions via swipe technology. Using the same PAYD App, merchants can plug the PAYD card reader into their smartphone or tablet and accept credit payments on the go.

With no set-up fees, early termination fees or minimum processing limits, the PAYD family of products use an affordable, easy to understand sign up and pricing structure that can meet the needs of any small business.

PAYD Pro and PAYD are available today for iPhone and iPad and merchants can find the app in the App Store. PAYD for Android is expected to be available in late summer 2015.

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