RBC, BMO Agree C$2 Billion Moneris Sale to Francisco Partners

Royal Bank of Canada and Bank of Montreal formed Moneris as a joint venture in 2000, building it into one of Canada’s largest merchant-acquiring and payment-processing companies. The Toronto-based business serves more than 325,000 locations and handles over 3 billion transactions annually, making its sale a significant reshaping of bank-owned payments infrastructure as competition from technology-led providers intensifies.

RBC and BMO agreed on Aug. 11, 2026, to sell Moneris to U.S. technology-focused private equity firm Francisco Partners for C$2 billion in cash. The transaction is expected to close by the end of the first quarter of 2027. Under agreements tied to the sale, both banks will continue to refer customers exclusively to Moneris for payment services.