RBC and BMO are selling Moneris Solutions Corp. to San Francisco-based Francisco Partners for C$2 billion, split 50-50 between the banks, pending regulatory approval.

The deal hands a US private equity firm control of roughly one in three Canadian payment transactions and ends Big Six bank ownership of a major domestic processor. Canadian Shield Institute’s Vass Bednar said the sale gives a foreign player “effective control over how the country’s commerce clears.” Senator Colin Deacon warned foreign ownership of payment systems exposes Canada to US political pressure over cross-border services.

Calgary-based Helcim says inbound calls from Canadian leads seeking domestic alternatives rose 30 per cent this week, according to CEO Nicolas Beique.

Sources

  • BetaKit: C$2-billion sale price, Helcim inbound call surge (30%), Vass Bednar sovereignty quote, real-time settlement Q4 2026 timeline
  • CBC News: Deal structure and regulatory approval pending, Senator Deacon warning, privacy legislation gaps
  • Global News: Francisco Partners buyer, 50/50 split to RBC and BMO, bank share movements post-announcement
  • Globe and Mail: Deal structure confirmation, foreign ownership data sovereignty concerns, payments industry leader warnings
  • The Logic: Moneris as Canada’s last Big Six-owned processor, countervailing view on infrastructure vs. single processor importance, debt-loading and pricing risk from private equity model

Reporting compiled and contextualised by TechScoop Canada. Figures reconciled across the sources above.

Originally reported by Betakit.