Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Canada’s RBC and BMO Possibly Looking to Sell Moneris
Aug 26, 2025
Image: Unsplash/PiggyBank
Two of Canada’s largest banks, RBC and BMO, are currently exploring the possibility of selling their joint payments processing venture, Moneris. If the deal follows through, it could potentially be valued at around $2 billion, which would be a record-breaking transaction in Canadian history.
How Things Are Currently
At the moment, no final decision has been made yet because it’s still early days and discussions are still being held. However, the potential sale has already sparked considerable interest within the industry, given the size and importance of Moneris in Canada. The banks are said to be working with top financial advisors, including PJT Partners, RBC Capital Markets, and BMO Capital Markets, to evaluate their options.
Moneris currently generates about $700 million in annual revenue and serves about 325,000 merchant locations across the country. This basically means the company processes roughly one out of every three business transactions in Canada, which is proof of just how central it is to everyday commerce. If sold, Moneris would present a rare opportunity for investors to acquire a pretty decent share of Canada’s payments market.
Retail isn’t the only sector that relies on efficient payment systems, because industries like online gaming have also highlighted the demand for fast, reliable processing. According to gambling expert Matt Bastock, part of the reason fast cashout sites have become so popular among players is the growing demand for better payment systems and instant payouts. Like online casinos and many other sectors of the economy, more and more businesses are starting to rely on fast, reliable transactions to meet customer expectations and stay competitive.
Background on Moneris
Moneris was established in 2000 as a 50/50 joint venture between the Royal Bank of Canada (RBC) and the Bank of Montreal (BMO), at a time when card payments were the go-to for merchants. In the last two decades, the company has grown into one of Canada’s largest payment processors and a trusted name for businesses of all sizes.
With a commanding market share of about 33%, Moneris is more than just a routine asset; it’s also the backbone of payments processed in and around the whole country. Today, Moneris’ offerings cover mobile payments, e-commerce platforms, and integrated point-of-sale systems, making it a one-stop shop for most businesses.
The company has also been strategic in expanding its services through partnerships and acquisitions. In 2021, Moneris acquired Quebec-based UEAT, which is a platform that provides online ordering solutions for restaurants, as a way to cement its presence in the hospitality sector. More recently, in 2025, the company went into a partnership with Cardstream to strengthen its capabilities in e-commerce.
What This Means for Future Payments in Canada
Should RBC and BMO move forward with the sale, it would mark a turning point in Canadian fintech history. The immediate impact on businesses and consumers might not be as harsh as most people expect it to be, as payment processing services will likely continue uninterrupted. However, under new ownership, Moneris could pursue more aggressive strategies, introduce new technologies, or even go beyond Canadian borders in the hopes of finding better opportunities.
This potential sale reflects the ongoing transformation of Canada’s financial services industry, where traditional banks are adapting to an era that is defined by fintech solutions. In fact, the Canadian fintech sector is growing three times faster than traditional finance. For stakeholders across the board (consumers, investors, and competitors), the coming months will be worth watching closely. The outcome will provide valuable insights into how things are going to change and how institutions like RBC and BMO intend to position themselves in the future.
What this Means for the Canadian Market
Although payment processing operations are profitable and generate reliable cash flow, they also require ongoing investment in technology, which tends to be costly. For RBC and BMO, exiting their joint venture may allow them to refocus on their core banking operations, while leaving the demands of payment technology to specialized industry players.
See: Crypto Enters the Core of Canadian Payments
On the other side of the equation, potential buyers (private equity investors or established payment companies) may find new ways to scale the business even further. Comparable moves have already been seen in and outside of Canada. For instance, TD Bank recently partnered with U.S.-based Fiserv for its merchant payments operations, opting to work with a dedicated payments provider instead of maintaining the business internally. Cases like these are good examples of how banks are rethinking their role in the ecosystem, often favouring partnerships or outright sales.
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