Moneris To Acquire Humboldt Merchant Services

SCHAUMBURG, Ill. — The temporary holding of Humboldt Merchant Services (HMS) by Mutual of Omaha may come to an end, pending approval of federal authorities.

The closure of First National Bank of Nevada, HMS' parent bank, had left the merchant services unit in the temporary hands of the FDIC since July 25, 2008. Moneris Solutions' US arm, Moneris US, announced today that it signed an agreement to purchase substantially all of HMS' assets. The acquisition is subject to regulatory approval. The deal is anticipated to close before year-end.

Included in the proposed HMS deal are more than 18,000 merchant accounts, $2.5 billion in annual processing volume and the HMS name, staff and management team.

“We are extremely excited about becoming part of Moneris US,” said Humboldt Merchant Services' president, Ken Musante. “Moneris US is part of one of North America’s largest, most successful payment processors,” Musante added.

The acquisition will mark Moneris US’ entry into the adult market. HMS enjoys a good reputation among affiliates and content providers as a reliable merchant services provider. Visa and MasterCard, the predominant credit cards used online, deem many online accounts that charge membership fees as high risk. Many mainstream banks shy away from approving such accounts. "We are very excited to service this niche market," noted Hilda Tuel, HMS senior vice president of sales. HMS' merchant accounts portfolio includes high-risk merchants, both adult and mainstream.

HMS' history and market experience in the adult community may be behind Moneris' decision to retain HMS' identity and management staff. "We will continue to do business as Humboldt," Tuel told XBIZ. HMS' employees, including staff and management, will become employees of Moneris and will remain based in Eureka, Calif.

Moneris US is the American division of Moneris Solutions, based in Toronto. Moneris is a joint investment between Canadian banking powerhouses Royal Bank of Canada and Bank of Montreal (including Harris Bank). Moneris Solutions was launched in December 2000.

The acquisition is currently being reviewed by regulatory agencies. HMS and Moneris expect to finalize the switch "in approximately 60 to 90 days," Tuel stated.

Copyright © 2025 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

Federal Appeals Court Vacates FTC 'Click to Cancel' Rule Pending Review

The U.S. Court of Appeals for the 8th Circuit on Tuesday vacated the Federal Trade Commission’s “click-to-cancel” rule aimed at making it easier for consumers to cancel online subscriptions, pending further review.

FSC Drops Florida AV Lawsuit in Wake of SCOTUS Decision

A U.S. district court judge granted on Tuesday a motion by Free Speech Coalition to dismiss the trade association’s lawsuit over Florida’s age verification law, a case that had been on hold pending the Supreme Court’s recent ruling on the constitutionality of state AV laws.

Ukrainian President Responds to Porn Legalization Petition

President Volodymyr Zelensky responded Tuesday to an OnlyFans model’s petition to decriminalize pornography in Ukraine, stating that he would wait for the legislative process to play out “in accordance with established procedure.”

Only Tax Deductions Joins Pineapple Support as Sponsor

Adult industry accounting firm Only Tax Deductions has joined the ranks of over 70 adult businesses and organizations committing funds and resources to Pineapple Support.

Adult Empire Launches 'Conversations' Podcast Series

Adult Empire has launched a new official podcast series hosted by Nicole Chappelle and Charlie.

Sex Work CEO Launches 'Teams Plan' for AI Assistant

Sex Work CEO has introduced the new Teams Plan for its AI-powered, NSFW text generator, GPTease.

2025 XBIZ Amsterdam Website Launches With Call for Speakers

XBIZ is pleased to announce that the website for its annual European conference, XBIZ Amsterdam, is now live.

NC Governor Vetoes Bill Targeting Adult Industry, Override Possible

North Carolina Governor Josh Stein today vetoed a bill imposing new regulations that adult industry observers have warned could push adult websites and platforms to ban most adult creators and content.

25,000 Sign Petition to Legalize Pornography in Ukraine

An OnlyFans model’s petition to decriminalize pornography in Ukraine has amassed the 25,000 signatures required for official consideration by President Volodymyr Zelensky.

WannaCollab Joins Pineapple Support as Supporter-Level Sponsor

WannaCollab has joined the ranks of over 70 adult businesses and organizations committing funds and resources to Pineapple Support.

Show More