Under the terms of the deal, Moneris Solutions is to process payments made with Chegg’s own pre-paid Visa-branded card as well as Visa, MasterCard, American Express, Discover Card and debit card payments for textbook rentals made via Chegg.com.
With assets of over USD 700 billion, Moneris Solutions offers payment processing products and services to 350,000 merchants and processes over 2 billion payment transactions per year. Since 2005, when the company was founded, Chegg.com has rented over one million textbooks to students at over 6,400 campuses across the US.
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