Desjardins launches new mobile payments solution for small businesses


Desjardins today announced the launch of a new mobile payments platform aimed at small business owners and self-employed trade professionals.

Reminiscent of Moneris’ Payd solution, the platform, dubbed Monetico Mobile and Monetico Mobile+, allows merchants to accept credit card payments on the go. The solution consists of a device that doubles as a card reader and keypad and an Android and iOS app that connects to the aforementioned unit using Bluetooth. The app allows a merchant to input payment information and generally manage that aspect of their business.

Each transaction is subject to a flat 2.5 percent processing fee. The card reader also needs to be leased from Desjardins, though the company’s existing customers can get the unit at a reduced rate. The base model, Monetico Mobile, is able to accept Visa and MasterCard, while the more expensive Monetico Mobile+ can also accept American Express and JCB cards.

Interestingly, the Desjardins website states that the plus model is also compatible with Apple Pay, which has yet to make its way to Canada.

The mobile payment acceptance market is growing quickly in Canada, with expanded efforts from Square, PayPal and Stripe in recent months.