The business understanding also includes Cynergy Data’s own registered ISO’s and their merchants. According to the agreement, Moneris Solutions will offer bank sponsorship through US bank Harris N.A. and process all Visa, MasterCard and Discover Card transactions for Cynergy Data. At present, Cynergy Data provides payment processing services to over 90,000 businesses and processes over USD 15 billion in credit, debit, check conversion and other payment transactions per year. Moneris Solutions processes all types of payments including credit, debit, paper check, e-check (ACH), recurring payments and gift cards. On top of direct sales, the company provides its products and services via a network of financial institutions, strategic business partnerships and ISOs.
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