History
Caledon Computer Systems Inc. was established in 1983 as a hardware supplier and software developer during the incubation years of the information technology industry. Towards the early 1990’s, the potentially widespread adoption of the Internet presented an intriguing opportunity for the merchant industry regarding electronic payment processing and in 1997, the Caledon Card Services division was officially created. Soon after this we developed a high speed batch based payment processing system and subsequently processed Canada's first web originated credit card transaction. Following the tremendous adoption and expansion of the Internet for business purposes, it became clear that the future of Caledon would reside in the payment processing industry.
In early 2005, following an inherent commitment to innovation, Caledon once again diversified our already extensive product offering by entering the merchant account business as an Independent Sales Organization and Merchant Services Provider (ISO/MSP). Through selling merchant accounts to clients both large and small over the next few years, we gained an invaluable ‘behind the scenes’ look into the world that is the merchant acquiring industry. Convoluted ‘tiered’ pricing strategies along with teaser rates, ‘bait and switch’ tactics and unnecessarily complicated statements were not only prevalent in the industry, they were actually encouraged by the major acquirers as they produced much thicker margins by confusing merchants to the point of exhaustion.
In spring of 2010, we decided it was time for a change and began lobbying to obtain direct sponsorship into Visa and MasterCard. The final papers were signed in the fall of 2010 officially placing Caledon Card Services as an Acquirer on a more level playing field for merchant accounts with the likes of Moneris (owned jointly by BMO and RBC), Paymentech (owned by JP Morgan Chase), Global Payments Canada (essentially CIBC and National Bank), TD Merchant Services (wholly owned by TD Bank), First Data (wholly owned by KKR) and Elavon (wholly owned by US Bank).
Today, Caledon Card Services processes nearly 50 million transactions worth over 4.2 billion dollars and counting each year. Please contact us to see what we can do for your business.
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