One of North America’s Largest Payment Processors Teams with Leading On-line Textbook Rental Company
SCHAUMBURG, Ill.--(BUSINESS WIRE)--Moneris Solutions, one of North America’s largest payment processors, announced today that it has signed an agreement to process credit and debit card payments for Chegg.com, the nation’s leading online textbook rental company.
Under the terms of the agreement, Moneris will process all Visa, MasterCard, American Express, Discover Card and debit card payments for textbook rentals made through Chegg.com, as well as payments made with Chegg.com’s own pre-paid Visa card.
Based in Santa Clara, CA, Chegg.com is an innovative, money-saving alternative to traditional college bookstores, allowing students to rent textbooks through the Chegg.com website rather than having to buy them. Since its inception in 2005, Chegg.com has rented over one million textbooks to students at over 6,400 campuses nationwide and saved students over $53,000,000.
“The idea of being able to rent college textbooks instead of buying them is extremely innovative and progressive,” said Greg Cohen, President, Moneris Solutions US. “It’s convenient and saves students considerable money. We’re extremely excited to be working with Chegg.com and look forward to supporting them as their business continues to grow.”
“We’re pleased to partner with Moneris because they offered everything we were looking for: speed, security, reliability, experience in the education industry and the ability to quickly integrate into the Chegg.com website,” said Aayush Phumbhra, Co-founder and Senior Vice President of Operations at Chegg.com. “We are confident that as we continue to grow, Moneris has the capability to support us and our payment processing needs.”
About Moneris Solutions
Moneris Solutions is one of North America's largest payment processors. A joint venture between Royal Bank of Canada and Bank of Montreal, which combined have assets in excess of $700 billion, Moneris Solutions provides payment processing products and services to more than 350,000 North American merchants and processes more than 2 billion payment transactions annually. For more information, visit www.monerisusa.com.
