Chip-based technologies advanced in Canada

Quebec market sees a significant growth of Moneris Solutions, Canada's largest processor of credit, debit and gift card payments which in turn is experiencing tremendous chip-based technology usage. Moneris Solutions provides a more integrated, secure and convenient experience for local consumers and merchants.

The company was the first to gain the certification from the Interac Association, Mastercard and VISA in Canada.

A chip card represents a plastic payment card (debit or credit) which has an embedded microchip. Cardholders insert these cards into a point-of-sale (POS) terminal or ABM.

Moneris Solutions is the nation's leading electronic payment processor with 15 per cent of their work force in Quebec. The company is studying technology trends and patterns in the Canadian economy as well as the Quebec market. Recently it acquired Montreal-based electronic payment solutions provider KeyCorp Canada Inc., now known as MSC (Moneris Services Corporation).

"Moneris Solutions is leading the charge towards Canada's migration to chip technology and this is being reflected in our strength and presence in the Quebec market," said Brian Green, Senior Vice President, Moneris Solutions. "We are thrilled that customers and businesses alike understand the innovative benefits of chip-based technology as one of the safest, most secure payment options available today."