Overview

Moneris Insights is a tool that for small and medium sized merchants who are using Moneris for payment processing. It provides merchant subscribers with valuable business insights on their sales, customers, and competitors. Access Moneris Insights on your mobile device or on a laptop/desktop PC. Set one-time or recurring sales and customer goals to improve your bottom line and gain more foot traffic. Receive notifications about new insights on your mobile device, and view them in the app. The platform shows data from each Merchant ID (MID) separately, even if the user account is the same between multiple MIDs.

Learn how to use Moneris Insights by clicking on the following links:

• Getting Started with Moneris Insights 
• Goals
• Pages

There are also other sections of this Overview article to review (see below).

Product Overview

Overview

Moneris Insights provides merchants with key business information in three key areas: Know Your Business, Know Your Customer, and Know Your Competition. 

Sales (Know your Business) helps business owners understand their sales through the multiple time frames (week, month, quarter and year). This section displays:

• Historical sales dollars - Shows historical sales by week, month, quarter, and year and highlighting your highest and lowest sales periods within the timeframe selected.
• Predictive Sales forecasts - Helps you to understand their forecasted daily, weekly, or monthly sales based on 4 weeks (rolling).
• YTD (desktop only) - Displays your year over year performance.

Customers (Know your Customers) provides insight into customer demographics, loyalty and spend trends through:

• Customer profiles by location, income and average age – This is heat map of where your customers are coming from using the first 3 digits of their postal code, with details are on their average income and age. This postal code view is scalable to all of Canada.
• Customer spend profile by postal code – Provides the top 3 performing categories shoppers within your business' postal code area shop, with average basket size.
• New and recurring customer volumes, and average transaction spend – Tells you how many of your customers are new vs. recurring, along with their average transaction spend.
• Customer Spend Trends – Expresses value in three terms (high, medium, and low value) based on the customers overall spend within the MCC category, frequency of visits to your business and their and historical spend per visit.
• Customer Journey Insights - Displays an aggregated view of where your customers transacted before and after visiting your business.

Competition (Know Your Competition) provides:

• insights on your business relative to competitors in your industry and geographic area.
• anonymized average sale and transaction data of competitors in your geographic area.
• your sales relative to leading, solid, and emerging competitors in your geographic area.

Moneris Insights offers the following features:

• Sales and customer goal setting and tracking - enables you to input an increase target for the month and view your goal progress on a dashboard. These goals are tracked based on your business' actual performance tracked by transactions processed by your Moneris device or business solution.
• Radius selector outlining up to the top 3 businesses sub-types within your industry and within your selected radius. This contains the percentage of area sales acquired by the business subtype, along with the average sale and transaction counts.
• Performance summary of your specific business sub-type containing average sale size and transaction counts.
• Insights and SMS Notifications - Business insights will provide information on major or key performance updates as well as goal related progress through three types of communications:
  • Event/Rule-based SMS notifications - receive notifications on your mobile device based based on triggering events (e.g., meeting a goal) or at a frequency that you specify.
  • Weekly SMS and in-product digest outlining key performance updates.
  • In-product notification hub, called "Insights".

Important information

Prerequisites to use the platform

There are prerequisites for eligible merchants to use Moneris Insights, including:

• Processing payments with Moneris for at least 6 months 
  

  Note: This will not prevent new Moneris merchants from using Moneris Insights. However, without that historical data, the experience with Moneris Insights data will not be optimized.

   
• Using the Moneris Portal or Merchant Direct (MD) portal
• Having at least 1 merchant ID (MID) connected to the user login credential

When a merchant is eligible for Moneris Insights, they can self-onboard to the platform via their Merchant Direct portal. Refer to the Getting Started with Moneris Insights article for more information on this process.

Important notes

Be aware that:

• Moneris Insights uses settled payment data from Moneris for merchants.
• The data only shows the sales transactions that have been processed by the merchant and is settled between the card issuer bank, card scheme (Visa, MasterCard, etc.), and Moneris to finalize the transaction. This means the data shown on Moneris Insights will be at least T-1 (the day before today) and sometimes can go up to T-3 (3 days before today) based on the settlement process.
• Only the sales transactions are considered on Moneris Insights. Refunds and voids transactions are not considered on the platform.

A Note about Images

A Note about Images

Because the Moneris Insights application operates on both desktop and mobile devices, the interface adjusts to fit the screen size of the device you're using to access the tool. As a result, images in this guide will show both the desktop and mobile screens. They will be labelled "desktop" and "mobile" to help you distinguish between them.