Switch and Save Offer RBC

Promotional Offer – March 9, 2023 to November 30, 2023.

General Eligibility Criteria and Terms

The promotional offer described below (“Offer”) is available from March 9, 2022 to November 30, 2023. (the “Offer Period”) and is available only to merchants located in Canada who meet each of the following criteria (the “Eligibility Criteria”):

  1. The merchant is not an existing Moneris merchant, and enters into a merchant agreement for credit and debit card processing (“Merchant Agreement”) with Moneris Solutions Corporation (“Moneris”) during the Offer Period. Moneris is under no obligation to approve a merchant for any services and reserves the right to determine a qualified merchant in accordance with its credit adjudication and other policies and procedures. Following satisfactory internal Moneris approval, merchants will be required to agree to, and agree to be bound by, the terms and conditions under the Merchant Agreement; 
  2. The merchant references a valid promotional code relating to this offer in connection with entering into a Merchant Agreement; and
  3. The following does not apply to the merchant: (i) the merchant currently participates in a merchant program for franchisees, trade associations, member associations or other buying groups; or (ii) the merchant has processed an aggregate Visa® and Mastercard® transaction volume of $2,500,000 CAD or greater in the three (3) months preceding acceptance of the Offer. 

Offer Details and Limitations

Merchants that fulfill the Eligibility Criteria will receive one (1) of the following, as determined by Moneris acting in its sole discretion:

  1. Moneris will offer transaction fees for Mastercard® and Visa® credit transactions and Interac® debit transactions (“Acquirer Transaction Fees”) that are lower than the equivalent fees charged to the merchant by its existing payment processing service provider; provided that prior to entering into a Merchant Agreement, eligible merchants must, if requested by Moneris, provide Moneris with its Mastercard®, Visa® and Interac® merchant processing statements for the last three full consecutive months preceding their application to Moneris. The rate comparison for Moneris’ offer will be based on the processing rates for Mastercard®, Visa® and Interac® transactions as set out in the processing statements provided and subject to parameters as determined by Moneris. Rates comparison excludes any one-time or activation fees, service fees, terminal rental fees or other event-driven fees. To receive the benefit of this offer, the merchant must enter into a Merchant Agreement that reflects the applicable rates. The rates comparison is valid as of the date statements from the merchant’s statements with its existing payment processor are provided by the merchant as compared to the offered Moneris rates. Acquirer Transaction Fees are fees applied by an acquirer or payment processor to a transaction, and exclude, for certainty, any (i) fees or charges levied by a card brand or card issuer, including interchange or assessment fees; and (ii) any service fees, recurring fees, rental fees, or any other fees that are not levied in connection with a transaction. 

-or-

  1. Moneris will provide a one-time credit to the merchant’s account based on the merchant’s Visa and Mastercard credit card and Interac debit transaction volume (purchase transactions only)  during the first 90 days of entering into a Merchant Agreement , determined as follows:

    Volume Within 90 Days (Visa and Mastercard credit and Interac debit)

    Rebate Credit Amount (CAD)

    $10,000 - $14,999

    $200

    $15,000 - $29,999

    $400

    $30,000 - $49,999

    $600

    $50,000 - $74,999

    $900

    $75,000+

    $1,250

    2. The credit will be automatically applied against future fees for Moneris payment services.  The credit must be accepted as awarded and cannot be substituted, transferred or exchanged for cash or other value. 

If a merchant declines the offer option that is made by Moneris, Moneris will have no obligation to offer an alternative option.

Offer is limited to one (1) per merchant that fulfills the Eligibility Criteria. This limit applies regardless of whether the merchant entity may be party to more than one Merchant Agreement. 

The one-time credit of up to $1,250 only applies to merchants who use a Royal Bank of Canada ("RBC") personal or business bank account for the settlement of transaction proceeds and identify, or have identified, RBC as their financial institution under the Merchant Agreement.

The Offer is subject to change, withdrawal or cancellation at any time and is not valid or combinable with any other offer for Moneris payment processing services. If the Merchant Agreement is terminated prior to the expiry of its term, the merchant will pay Moneris the amount (or value) of the Offer it received. The merchant remains responsible for all other fees and payments in accordance with their Merchant Agreement, including applicable restocking fees. 

All applicable fees and charges in the Merchant Agreement apply throughout the Offer Period and thereafter.  

Limitation of Liability

Moneris, its officers, directors, employees, shareholders, promotion agencies, agents, successors, assigns and service providers will not be liable for any direct, indirect, incidental, special or consequential damages arising out of the Offer, even if advised of the possibility of such damages. By participating in the Offer, the merchant waives any and all rights to bring any claim or action related to such matters in any forum beyond one (1) year after the first occurrence of the incident upon which the claim or action is based. The merchant agrees that any and all disputes, claims and causes of action arising out of or connected with the Offer, shall be resolved individually, without resort to any form of class action.

By participating in the Offer, the merchant agrees to release and hold harmless Moneris and each of its parents, subsidiary, affiliate and related companies, and its and their respective officers, directors, employees and agents, from and against any losses, damages, rights, claim or cause of action of any kind arising or resulting, in whole or in part, directly or indirectly, out of participation in the Offer or from acceptance, possession, use or misuse of any item given in connection with the Offer.

MONERIS, MONERIS & Design, PAYD, and PAYD PRO are registered trademarks of Moneris Solutions Corporation. RBC and ROYAL BANK are registered trademarks of Royal Bank of Canada. INTERAC is a registered trademark of Interac Inc. VISA is a trademark owned by Visa International Service Association and used under license. MASTERCARD is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. All other marks or registered trademarks are the property of their respective owners.