Code of Conduct for the Payment Card Industry

Moneris is committed to the success of Canadian business owners. As part of that commitment, we fully support the Code of Conduct for the Payment Card Industry in Canada and have implemented a governance structure in order to:

• Comply with the requirements of the Code of Conduct;
• Uphold the highest values of transparency and integrity; and
• Build trust and develop successful merchant relationships.

Moneris is an active participant in the payment card industry, and we continuously advocate on behalf of our merchants.

Over the last several years Moneris has participated in working groups to update the latest version of the Code that takes effect on October 30, 2024 (with some technical changes taking effect on April 30th, 2025). The newest version of the Code has been published and can be found here:  Code of Conduct for the Payment Card Industry in Canada.

Starting October 30, 2024, merchants may benefit from some key changes introduced within the latest Code:

Communication & Disclosure

• Payment Card Network Operators (PCNOs) must make all applicable information regarding standard interchange rates, wholesale discount rates, and acquiring network assessment fees easily available on their websites.

Merchant Agreements

• Merchant agreements must include a summary of key elements of the agreement, cost per transaction disclosure, and disclosure of fees. These disclosures can help merchants draw price comparisons between Acquirers/Processors.

Renewal of Merchant Agreements

• Merchants may now provide notice of non-renewal at any point during the agreement period up to 45 calendar days prior to agreement renewal (this was previously 90 days).
• Effective October 30, 2024 Moneris has updated its merchant agreement terms and conditions to reflect this change and has reduced the notice period for non-renewals from 90 to 45 days.

Code Complaint Handling Process

• Complaints must be acknowledged within 5 business days and investigated and addressed within 20 business days (previously 90 calendar days).

Card Processing Applications – Effective April 30, 2025

• Card processing applications/quotes/proposals must include cost per transaction disclosure and disclosure of fees. These disclosures can help merchants draw price comparisons between Acquirers/Processors prior to signing an agreement.
• Promotional offers/bundles must be disclosed in the applications/quotes/proposals, including the length of the promotional period.

Notice to Merchants of Acquirer/Processor and PCNO Core Fee Changes – Effective April 30, 2025

• Acquirers must notify merchants between 30 and 60 calendar days prior to the effective date of any:
  • new or increased Acquirer/Processor Fee passed on in part or in full.
  • new or increased applicable domestic PCNO Core Fee passed on in part or in full.
  • reductions in applicable domestic PCNO Core Fees not passed on in full.
• Notification is required for all card processing plans (including flat rate) and must clearly state:
  • previous and new amount(s) of the fee that is being charged.
  • whether the fee change originated from a PCNO or Acquirer.
  • the amount of the change that is being passed on to the merchant.
  • that the merchant has a right to cancel their agreement without penalty 70 calendar days after the change is in effect (see Ability to Cancel Agreements without Penalty).
  • the date on which the 70 calendar days’ period expires.
  • where an Acquirer has no fixed term or cancellation penalties, that the merchant may exit their agreement without penalty at any time.
• Changes based on a pre-determined fee schedule do not require notice to the merchant.
• Notification is not required to merchants where the card processing plan automatically provides the full benefit of a reduction in a PCNO Core Fee.

Ability to Cancel Agreements without Penalty - Effective April 30, 2025

• Merchants may now cancel their agreements within 70 calendar days after the effective date of:
• A new or increased Acquirer/Processor or PCNO Core Fee.
• A reduction in an applicable domestic PCNO Core Fee that was not passed on in full.
• The new 70-day period allows merchant to assess the impact of a fee change prior to making a decision to exit their agreement.
• Previously merchants were given the option to exit their agreement 90 days prior to the effective date of a fee change.