Transit authorities processing with Moneris now have the ability to accept a greater variety of cards issued outside Canada in their open payments solution.
Toronto, ON – November 23, 2021 – Moneris Solutions Corporation (“Moneris”), a Canadian leader in unified commerce, has received certification from Discover® and UnionPay® to process transactions from their respective cardholders in an open payments solution for transit. As international travel begins to recover, supporting payments made with cards issued outside Canada represents an important next step in extending the benefits of open payments to riders traveling from abroad.
Moneris Open Payments for Transit allows transit authorities to give riders the ability to pay with contactless debit, credit or digital wallet. “When transit authorities enable open payments, riders no longer need to worry about loading a separate fare card or navigating tickets and tokens,” says Patrick Diab, Chief Product and Partnership Officer at Moneris®. “For tourists, this is particularly helpful as they have a payment option that is more familiar and easier to use. Certification from Discover and UnionPay helps make this possible as it allows transit authorities processing with Moneris to accept payments from more international riders, an important capability as people begin traveling again.”
Discover operates the Discover Global Network, the fastest growing global payments network,1 with 270 million cardholders2 that spent $415 billion in 2020.3 “Discover Global Network values the technology and expertise of Moneris in supporting transit solutions, which is key to our global acceptance strategy,” said Jennifer Cruz, Vice President of Strategic Client Management at Discover. “Solutions like open payments offer our cardmembers ease and convenience when riding transit.”
UnionPay International (UPI), a subsidiary of UnionPay, focuses on international business through partnership with more than 2,400 institutions worldwide.4 In addition, UnionPay card acceptance includes 180 countries and regions globally with issuance in 70 countries and regions.4 “By making payments with just a tap of cards or mobile phones, UnionPay cardholders will be able to pay their public transit fare in a simple and convenient way.” Says June Chen, General Manager, UnionPay International North America, “UnionPay is pleased that Moneris is the first acquirer that completed our open payment certification in Canada.”
Prior to the pandemic, US residents made 2.3 million trips to Canada, while residents overseas made another 849,100 in September of 2019 alone.5 Although travel has not returned to pre-pandemic levels, it is on the rise. The number of US residents travelling to Canada in September of this year is four times higher than it was in September of 2020.5 In addition, the number of overseas arrivals to Canada was over four times higher in September of this year versus September of 2020.5
The ability to accept payments from Discover and UnionPay cardholders will therefore help ensure transit authorities are prepared to meet the needs of more international riders with all the benefits open payments have to offer.
Moneris is Canada’s largest provider of innovative solutions for mobile, online and in-store payments, processing more than one in three transactions. Serving businesses of every size and industry, Moneris offers hardware, software and solutions to help transform the way businesses grow and operate, in payments and beyond.
For more information, please visit www.moneris.com and follow @moneris.
MONERIS and MONERIS & Design are registered trademarks of Moneris Solutions Corporation. DISCOVER is a registered trademark of Discover Financial Services. UnionPay, used under license from UnionPay. All other marks or registered trademarks appearing on this page are the property of their respective owners.
1 Based on signed network alliance agreements over the past twelve years with major payment networks within respective countries – Panoramic Research study, conducted 2020.
2 Discover Global Network participant reporting and RBR - Global Cards Data and Forecasts to 2025, Oct 2020.
3 Discover internal reporting.
4 UnionPay International internal reporting.