CHICAGO October 11, 2006 – Moneris Solutions, one of North America’s largest electronic transaction processors, today announced it has signed an exclusive partnership with the Association of Progressive Rental Organizations (APRO). Moneris will provide APRO’s membership with a new credit/debit card program that offers significant cost savings for rent-to-own (RTO) businesses.
The agreement, which will help APRO’s members with credit/debit card and check processing fees, calls for Moneris to be the association’s exclusively endorsed partner for one year.
”Rent-to-own owners report more and more of their customers are seeking the flexibility of using debit cards to make their payments. By partnering with Moneris, we are able to offer our members the ability to accept electronic payments more easily while enjoying lower processing rates and transaction fees. It is a benefit that we are pleased to offer APRO members, and we are already receiving very positive feedback from some of our RTO dealers.”
Keese added that a major selling point in partnering with Moneris was the company’s strong standing in the payment industry. “The ability to accept payments through a variety of means is vital to any retail operation, and it is essential that we offer our members a system that is established, proven and absolutely reliable,” he said. “It also is important that our partner be able to tailor its services and products to the needs of our members, and Moneris has demonstrated an excellent ability to do just that.”
“Associations like APRO can significantly enhance benefits they provide to their members by providing them with a one-stop-shop for the handling of all electronic payments,” said Gregory Leos, Moneris senior vice president for national sales. “Moneris is very excited to provide APRO’s members cost savings and efficiency benefits through our suite of electronic transaction products and services.”
Leos said Moneris is always interested in working with well-respected partners and associations that have a need for payment services. “With over 25 years in the RTO industry, APRO is clearly a leader in its field, and we couldn’t be more pleased to partner with them,” he said.
About Moneris Solutions
Moneris Solutions, Inc. (www.monerisusa.com) has a 30-year history as one of North America’s largest electronic transaction processors, delivering advanced payment card processing capabilities through point-of-sale hardware, payment processing software, e-commerce solutions and a gift and loyalty program. Moneris provides transaction-processing services nationwide through numerous agent banks and serves the small to medium-sized business market through direct sales and strategic partnerships. A joint investment of the Royal Bank of Canada and the Bank of Montreal, which have assets in excess of $700 billion, Moneris Solutions serves more than 380,000 North American merchant locations and has a staff of over 1,100 employees. Moneris’ U.S. headquarters are located outside of Chicago, IL.
About APRO
The Association of Progressive Rental Organizations is the official voice of the rent-to-own industry. APRO, founded in 1980, is a national, nonprofit trade association advocating and representing the rent-to-own industry before the U.S. Congress, state legislatures, courts, media and the public. The $6.6-billion rent-to-own industry serves a growing consumer need for acquiring the use of household products without incurring debt or jeopardizing the family’s credit. Rent-to-own customers come from all walks of life, desiring consumer durable goods in their homes without the long-term financial obligations associated with credit sales. What distinguishes rent-to-own from a retail credit sale is the term \\\"rent.\\\" There is no interest charged to consumers, no credit checks involved and customers can return the merchandise at any time. This no-obligation, no-debt feature is the cornerstone of rental-purchase. It’s easy, it’s safe and it’s hassle-free as free replacement, repair and delivery are included. For more information, visit www.rtohq.org.
For more information, please contact:
| Erich Shea 202-296-2002 x115 eshea@environics-usa.com |