Royal Bank of Canada and Bank of Montreal agree to sell payments company Moneris to PE firm Francisco Partners for CA$2B in cash, splitting proceeds equally
THE SO WHAT
RBC and BMO selling Moneris for C$2B to Francisco Partners is another data point in banks exiting owned payments infra in favor of partnerships. If you’re a merchant or fintech on Moneris rails, expect product and pricing changes as PE looks for efficiency and growth levers.
READ THE SOURCE
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