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Moneris unveils private IP network platform for merchants

Thursday 5 February 2004 13:20 CET | News

Canadian Moneris Solutions has launched Canadas first private merchant processing Internet Protocol (IP) network and a portfolio of IP solutions for debit and credit card payment processing.Moneris is Canadas largest processor of debit and credit card transactions, processing more than 1.9 billion card transactions in 2003. As the only payment processor in the country to offer a private IP network solution to merchants coast-to-coast, Moneris estimates 50 per cent of current card transactions will shift to an IP network by 2006. Specifically, Moneris private IP network offers: - An added layer of segregation of traffic dedicated to point-of-sale (POS) transactions compared to public IP networks - transactions ride over a partitioned, protected IP connection that is monitored 24 hours per day; - Built in redundancy, based on the network design; - Reliability - Moneris private network is managed end-to-end and supported 24/7. By comparison, Public Internet access is not managed end-to-end, and merchants need to source out (and be supported by) an Internet Service Provider (ISP); - Dedication - Moneris private network is built solely for transaction processing, and these transactions do not have to compete with all the other data types on public IP networks. In addition to the above, using IP network technology for transaction processing delivers a number of additional benefits to merchants: - IP networks are cost-effective, not just because the costs of the legacy systems have been increasing, but because rates are based on a fixed monthly rate, rather than access, usage and distance charges that apply with legacy systems; - IP networks enable merchants to leverage their existing IP infrastructure for POS transactions, thereby increasing the utility of their network investment; - IP networks deliver transaction times equal to, or faster than, the best networks in the market today. Managed and developed by Moneris in conjunction with its technology partners, Moneris Multi Protocol Label Switching (MPLS) network is the architectural foundation for all of Moneris current and future IP network options, including: - IP 3201: An IP-based replacement for the x.25-based data communications format gradually being retired by telecommunications companies. - IP Corporate WAN: Allows integrated POS solutions or stand-alone terminals to connect from a store location to a central head office and then to Moneris transaction processing system using Moneris private IP network. - IP 3000: Designed for merchants who have, or would like to set up a host-to-host link with Moneris using a dedicated circuit provisioned into Monerisprivate IP network. With Moneris IP solutions, merchant POS networks become an integrated component of their infrastructure and an integral part of the operation, especially for multiple location merchants. Moneris provides a one-stop processing solution for payment card acceptance (credit, debit, gift and loyalty cards) and point-of-sale technology. Moneris has a strong history of delivering competitive and efficient solutions to a diverse group of companies with a wide range of payment acceptance needs.

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Categories: Payments & Commerce | Payments General
Countries: World
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