Moneris is also a payment processor from Canada. The leverage of Moneris is that it is applicable for all scales of business. Unlike the two payment platforms discussed above that are much suited for small scale businesses, Moneris can be applied across different business structures. Scalability and flexibility of this service provider model is hence very high. The advantages offered by this payment provider are that it is a multichannel solution. Reliability is also a strong point as the payment provider checks for failsafe solutions when it comes to their customer expectations on security. Customer service issues are also handled on the fly which is a good thing, as most third-party payment providers offer consistent solutions with respect to customer services too (Jin et al., 2007). The prime advantage of this solution is that it offers reliability, however the disadvantages is that of the fee structure.
The fee model for Freshbook is more of a flat percentage of any transaction. In the case of Payfirm, a negotiable rate can be fixed. However, in the case of Moneris, the fee structure is perhaps the only disadvantage. This is because Moneris both charges a use fee, and a credit fee. The use per month by a business owner would be standard fees at the rate of approx. 20 dollars per month. The credit fee charged per transaction would be at the rate of 2.75 per cent which is still significant higher compared to the other payment service providers (Lindzon, 2014). The Moneris platform is ideal for such businesses where the motive is expansion. Such businesses which are willing to invest in reliability and security of their consumers would prefer Moneris. By partnering up with companies like that of Sage Accounting, RBC etc., Moneris is also able to provide for better business solutions as well, such as that of inventory undertakings. These additional elements help counteract the disadvantage of price.