Moneris Solutions Corporation announced it has enhanced its online sales reporting tool, Merchant Direct,
to include a new comparison report — Peer Reporting — a unique tool that
gives business owners the ability to gauge both their monthly and annual sales
growth against the national average for their industry.
“With Moneris’ Peer Reporting, merchants can finally see how their sales
stack up against the competition,” said Jim Baumgartner, President and CEO of
Moneris, Canada’s largest processor of debit and credit card transactions.
“With the click of a mouse, business owners can now find out if it’s been a
good month or a bad one relative to the industry in which they compete; peer
reporting will undoubtedly go a long way in assisting business owners with
their decision-making processes.”
Merchant Direct is an Internet-based reporting application that allows
merchants to view their company’s daily card transaction activity by 7:00 am
the next morning. Business owners can view dollar amounts and a breakdown of
credit card versus debit card sales, plus thirteen-month historical data that
can be used for forecasting and trend analysis purposes.
As the first payment processor in Canada to introduce online transaction
reporting, Moneris’ Merchant Direct has rapidly become one of the most popular
services within the merchant community. Peer Reporting takes online reporting
up another notch by delivering further value to Moneris’ more than 350,000
“Business owners use Merchant Direct to react quickly to fluctuations in
their business and as an aid in forward planning,” continued Baumgartner.
“With Peer Reporting, merchants get a monthly snapshot comparing their sales
growth to that of the average for their industry. Until now, timely data of
this nature has been virtually unavailable to businesses unless they’ve been
willing to spend thousands of dollars to conduct industry studies.”
“If your business is showing a 10 per cent growth rate, you may think
you’re having a good year — that is, until you see that your industry is
growing at 20 per cent. At that point you may have to make important decisions
about your product line, marketing efforts, and so on,” said Baumgartner.
How Peer Reporting Works
Each Moneris merchant falls within a Merchant Category Code (“MCC”). Most
MCCs represent a defined sector of at least 100 other businesses(1) within the
same industry. Peer Reporting appears on customer online monthly statements in
a simple, easy-to-understand format. The data shows how a national aggregate
of a merchant’s peers performed in comparison to their own business as a
percentage increase or decrease in net sales amounts. The data shows sales
from both the previous month and year-over-year.
Moneris provides a one-stop processing solution for payment card
acceptance (credit, debit, gift and loyalty cards) and point-of-sale
technology, and is the only payment processor in Canada to offer a private IP
(Internet Protocol) network solution to merchants coast-to-coast. Moneris
estimates that 50 per cent of current debit and credit card transactions will
shift to an IP network by 2006.
About Moneris Solutions Corporation
As Canada’s largest provider of payment processing solutions for
merchants, Moneris offers credit and debit card payment services for
virtually every industry segment. Through its Ernex division, Moneris offers
leading-edge electronic loyalty and gift card programs. With more than 350,000
merchant locations, Moneris works with a range of business partners to provide
the hardware, software and systems needed to improve business efficiency and
manage point-of-sale information. Moneris employs over 1,100 people at its
head office in Toronto as well as at offices in Chicago, MontrÃ©al, Vancouver
and Sackville. For more information please visit www.moneris.com.