A sponsorship agreement between Moneris and Cynergy Data

A multi-year agreement was signed by Moneris Solutions, one of North America's largest payment processors, with Cynergy Data, one of the payment industry's largest and most established Independent Sales Organizations. Under the terms of the deal Moneris Solutions will provide Cynergy Data as well as its own registered ISOs and their merchants with bank sponsorship and settlement services.

Moneris Solutions will provide bank sponsorship through Harris N.A. and process all VISA, MasterCard and Discover Card transactions for Cynergy Data. At the moment New York City based Cynergy Data provides payment processing services to more than 90,000 businesses and processes more than $15 billion in credit, debit, check conversion and other payment transactions yearly.

A joint venture between Royal Bank of Canada and Bank of Montreal, which combined have assets in excess of $700 billion, Moneris Solutions provides payment processing products and services to more than 350,000 North American merchants and processes more than 2 billion payment transactions annually.