Moneris Revenue Analysis Tool for CEWS FAQ

Overview

Moneris is committed to supporting your business as much as we can during these challenging times. Recognizing that there are relief measures coming from the Government of Canada, we worked to find a way to make gathering information from Moneris as simple as possible. The Government will open the application process for the Canada Emergency Wage Subsidy (CEWS) on Monday, April 27, 2020, and there are a number of criteria businesses must meet to be eligible.

To help evaluate your eligibility, Moneris has created a Revenue Analysis tool to make it easier for you to determine if your business meets the Government requirements for CEWS. Using your Merchant Direct account, you can generate a report that can compare your year-over-year (YoY) revenue performance quickly and easily. The Moneris Revenue Analysis tool is available today, all you need to do is log-in to Merchant Direct. Please make sure to review the Terms of Use before you use the revenue analysis tool.

Frequently Asked Questions (FAQs)

  • You can refer to the Government of Canada website for more information.

  • Before you start using the tool you will need:

    • Your Merchant Direct log-in credentials
    • A summary of ‘other’ sources of revenue for your business not captured by Moneris (e.g. other payment processor, PayPal, cash, etc.) for the periods of March, April and May 2019 and 2020.
     
  • After logging into Merchant Direct:

    1. Click View Customer Reports/Statements
    2. Under Common Reports Tab click Canada Emergency Wage Subsidy (CEWS) Revenue Comparison Report
     
  • No, the tool is limited to individual MIDs. To ensure the security of your business information and to remove any risk of consolidating the wrong MIDs, the tool only supports the MID a user is logged in to. You need to repeat the process for each MID you have with Moneris.

  • Setting up your Merchant Direct account is easy, you just need to go to your Merchant Direct – Sign In page and select Create Account. You will need your Merchant Account Number and the Banking Information where your funds are deposited by Moneris.

  • Please visit our Support Page at Moneris.com – Accessing Account Information for instructions on how to reset or change your password.

  • Please contact our customer support team using Secure Message on Merchant Direct or call 1-866-319-7450.

  • Yes. You can use the tool if your business has been operating for over a year. Simply use your older revenue records and input them manually into to the ‘other’ revenue section. “Other revenue” would include earnings from cash and other transactions processed by your previous payment processor or other alternate payment solutions such as PayPal or e-transfer, etc. 

  • Full details can be found here. At a high level, merchants will need to demonstrate a revenue reduction as a result of the Covid-19 pandemic, specifically:

    • March 2020 – 15% revenue reduction vs. March 2019
    • April 2020 – 30% revenue reduction vs. April 2019
    • May 2020 – 30% revenue reduction vs. May 2019
     
  • If your business is new and you don’t have year-over-year data, you can provide month-over-month data. To do this, you will need to log-in to merchant direct and pull your monthly reports manually to do your own calculations. Remember, Moneris only processes credit and debit card transactions for your business. Any other sources of revenue will also need to be included in your application for the CEWS.

    To pull your monthly statements from Merchant Direct:

    1. Log-in to Merchant Direct
    2. Click View Customer Reports/Statements
    3. Under Common Reports Tab click Monthly Statement

    With that information you can follow the Government instructions found here.

  • Moneris only processes your credit and debit card transactions. Without the ‘other’ sources of revenue, the tool cannot provide a complete or accurate picture of your business revenue that’s required for the Government application. 

  • Moneris is not saving or storing any data entered into this tool. Once you have generated your report, all information not provided by Moneris is deleted from our systems. If you need to run the report again, you will need to re-enter all the information in the required data fields.

  • Moneris is not saving or storing any data entered into this tool. Once you have generated your report, all information not provided by Moneris is deleted from our systems. If you need to run the report again, you will need to re-enter all the information in the required data fields.

  • You can still use the tool provided by Moneris but it will not be accurately calculating your revenue performance. You will need to refer to the Government of Canada Web site to determine if you can still apply if you are missing information.

  • You will need to refer to the Government of Canada Web site to determine whether your business is eligible.

  • If your business is based in Canada and processing credit and debit card transactions with Moneris the Revenue Analysis Tool will be available on your MID. When using the tool, you will need to ensure the currency values you enter are the same in which your business settles (e.g. if your business settles in U.S. currency, the values you enter in the tool should be U.S. currency. If you settle in Canadian currency, you should use Canadian currency values).

    You will need to refer to the Government of Canada Web site to determine if there are any other criteria you need to consider.

  • Yes it will impact you report. Merchant Direct will only be able to provide a comparison of revenue information during the month you operate and use Moneris payment processing services.

  • Moneris is providing this tool at no additional cost to merchants.

  • No. There are other criteria and information the Government requires. The revenue data is just one piece. Moneris is simply trying to make the access and consolidation of your business revenue information simple and easy for the purposes of submitting it to Revenue Canada to be eligible for the CEWS. Refer to the Government of Canada information page to determine if you are eligible.

  • Yes. Below is a table provided by the Government that can also be found here:

    Period dates

    Baseline revenue

    Eligibility period revenue

    Required reduction

    March 15, 2020 to April 11, 2020

    • March 2019, or
    • Average of January and February 2020

    March 2020

    15%

    April 12, 2020 to May 9, 2020

    • April 2019, or
    • Average of January and February 2020

    April 2020

    30%

    May 10, 2020 to June 6, 2020

    • May 2019, or
    • Average of January and February 2020

    May 2020

    30%

    Moneris is ensuring that the information provided is aligned with the Government Baseline revenue period for year-over-year comparisons.