Why Canadian payments platform Moneris is being sold to U.S. private equity

Moneris, a prominent Canadian commercial solutions and payment processing platform, is set to be acquired by U.S. private equity firm Francisco Partners for $2 billion. The deal will see the platform, currently co-owned by the Bank of Montreal (BMO) and the Royal Bank of Canada (RBC), transition to new ownership.

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Partnering with the U.S. private equity firm will help Moneris broaden the wide choice of solutions, support and experiences we deliver to businesses.

Both BMO and RBC will each receive a 50 percent share from the sale, with their stock prices seeing an increase following the announcement. James Hicks, president and CEO at Moneris, stated that partnering with Francisco Partners will enhance the "wide choice of solutions, support and experiences" offered to businesses. Peter Christodoulo, a partner at Francisco Partners, pledged "continued investment in innovation, platform expansion and long-term growth, while preserving the deeply Canadian identity that has made Moneris a market leader."

Moneris plays a crucial role in Canada's business landscape, facilitating payment acceptance and management for over 325,000 points of commerce nationwide. This acquisition follows closely on the heels of U.S. chipmaker AMD's announcement to acquire Taalas, a Canadian semiconductor manufacturer specializing in AI inference capabilities.

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Francisco Partners is promising continued investment in innovation, platform expansion and long-term growth, while preserving the deeply Canadian identity that has made Moneris a market leader.

The sale of Moneris comes at a time of heightened national discussion regarding digital sovereignty. In September 2025, a group of public figures and tech experts urged Prime Minister Mark Carney to develop a strategy for safeguarding Canada's digital infrastructure against the increasing dominance of U.S. tech firms. An open letter warned against embedding foreign governance into Canadian infrastructure and accepting the "unquestioned and unchallenged technological dominance" of the U.S.

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Canada must legislate a sovereignty framework before engaging in binding international commitments that could otherwise embed foreign governance logics into our infrastructure.

Economist Moshe Lander of Concordia University expressed that the Moneris sale news might frustrate Canadians hoping for stronger action on digital sovereignty. He noted that Moneris is a financial product and a significant player in the market, making its acquisition by a foreign entity a notable event amid these broader concerns.

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The country must not accept the “unquestioned and unchallenged technological dominance” of the U.S. and “all the harms this entails.”