Toronto-based Moneris Solutions, has won a contract to process all online and onsite payment transactions for the federal government.
It’s a lucrative contract for one of Canada’s largest processor and acquirer of debit and credit card payments.
Under the agreement, the company will provide all point-of-sale (POS) devices as well as manage all card payment transactions for approximately 38 federal government departments and agencies across the country.
Some 2,000 terminals for processing payments using Interact Debit, Visa, MasterCard and American Express systems will be deployed.
“We’re excited to be working with the federal government to manage and improve its payment solutions, for services across the country,” said Jeff Guthrie, chief sales and relationship officer at Moneris, in a statement today.
In line with the mandate, Moneris said, it will work to ensure that cost recovery services provide the best possible solution at an affordable cost to Canadian taxpayers.
Moneris is currently working with the government to begin roll out of new POS devices by the end of the year Guthrie said.
The company will also help the government improve its payment processing solutions to keep pace with technology changes.
The previous system provided debit and credit payment capability for both onsite and online customers. The government will have access to Moneris’ mobile payment technology like Payd, mobile debit and credit solution but Guthrie said so far the government has not expressed any desire to deploy mobile payment capability.
The Moneris solution that will be deployed will use encryption for customer data both at rest and in transit, he said. A hosted tokenization solution will also be employed to prevent theft of credit and debit card data.
With this system, when a customer keys in a credit card number, the Moneris Electronic gateway sends the customer a “temporary token” that represents the customer’s credit card number, said Guthrie. This ensures that the card number is not visible or accessible to would be hackers.