Moneris announced on January 20, 2016 that it planned to introduce business-to-business payment services in Canada through an arrangement with Boost Payment Solutions. Its first offering, built around Boost Intercept, was scheduled for the spring of that year. [S01]

Bringing suppliers into electronic payments

The proposed service targeted suppliers accepting payments from commercial customers and card issuers seeking to expand supplier acceptance. Moneris described onboarding, accounts-receivable tools, reporting and support for moving away from paper cheques. [S01]

Boost Intercept was intended to support multiple commercial-card platforms, with attention to data automation, security and reporting. The January release outlined a planned deployment. It did not provide evidence that the subsequent launch had already happened. [S01]

Where this fits in a wider card business

Moneris also operated loyalty and stored-value gift-card programmes, but this announcement concerned commercial payments between businesses. A supplier payment and a consumer gift card can involve related processing capabilities without being the same product. [S01]

The operational issue was the handover between payment acceptance and accounting. Receiving an electronic payment is only part of a supplier’s process; identifying the invoice and reconciling the money also matter. The proposed service brought those requirements together in one commercial proposition.

No customer-specific savings, transaction volumes or adoption figures were disclosed for the arrangement. Those outcomes cannot be inferred from the scope of the planned service.