Moneris Solutions

Moneris Solutions

May 08, 2008 17:38 ET

Moneris Solutions Completes Acquisition of Keycorp Canada Inc.

TORONTO, ONTARIO--(Marketwire - May 8, 2008) - Moneris Solutions, Canada's largest processor of credit, debit and gift card payments, today announced it has completed the acquisition of Keycorp Canada Inc. (KCI). KCI has been re-named MSC Moneris Services Corporation (MSC) and will be operated as a wholly owned subsidiary of Moneris Solutions Corporation.

MSC employs a staff of approximately 300 and provides point-of-sale (POS) service and support to small and large customers across Canada, as well as providing technical service and support to a number of leading Canadian acquirers, solution providers and merchants. MSC also provides technical service and support to the Societe des Loteries Videos du Quebec for its video lottery terminals.

"MSC, a leading specialist in the areas of integrated POS service and support, allows Moneris to integrate these offerings completely into our portfolio of payment services, adding further value to our merchant customer base," says Jim Baumgartner, President and CEO, Moneris Solutions.

Moneris will work with its existing customer base to explore opportunities to further support their POS and Electronic Cash Register (ECR) solutions. At the same time, MSC currently has a solid customer base that Moneris is committed to providing with the same high level of service and support, while looking for opportunities to expand and grow this customer base and the complementary services that are offered in this market.

The new General Manager of MSC will be Wayne Griffiths formerly Moneris' Director of Operations. During Wayne's 6 years at Moneris, Wayne had accountability for all aspects of POS solution acquisition, deployment and support including the management of Moneris' vendor relationship with KeyCorp Canada. "Wayne is a seasoned executive with deep understanding of logistics and merchant's needs for POS service. Prior to his tenure at Moneris Wayne held a number of senior supply chain management roles in his home country of South Africa," says Baumgartner. "We are very confident that Wayne will bring the voice of the customer deep inside MSC."

All KCI contracts have been assumed by Moneris as part of the acquisition and KCI customers will not experience any disruption in service.

About Moneris Solutions

As one of North America's largest providers of payment processing solutions, Moneris offers credit, debit, wireless and online payment services for merchants in virtually every industry segment. Through its Ernex division, Moneris also provides electronic loyalty and stored-value card programs. With more than 350,000 merchant locations generating close to three billion payment card transactions annually, Moneris provides the hardware, software and systems needed to improve business efficiency and manage payments. For more information please visit www.moneris.com.

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