RBC and BMO agree C$2bn Moneris sale

Canada’s two largest banks, RBC and BMO, are selling Moneris to private equity firm Francisco Partners for C$2 billion. As Canada’s leading payment processor, Moneris handles approximately $350 billion in annual volume across 325,000 merchant locations. For retailers and service providers using Moneris, this ownership shift marks a transition from traditional bank management to a private equity model focused on rapid technological scaling. Historically, Moneris has been the backbone for integrated point-of-sale systems and consumer credit processing in Canada. Under new ownership, merchants should expect a push toward modernized digital offerings. Francisco Partners specializes in tech investments, suggesting that Moneris will likely accelerate its rollout of advanced Buy Now, Pay Later (BNPL) integrations, mobile wallets, and enhanced data analytics tools. While your day-to-day processing will not change immediately, this sale indicates a broader industry trend where banks are offloading payment infrastructure to specialized tech investors. For business owners, this could mean more competitive financing tools at the checkout counter and improved software integrations, but it may also lead to shifts in fee structures as the new owners look to maximize their $2 billion investment.

Source: Finextra — Lending

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