---
title: Canada's Two Biggest Banks Are Selling Moneris and Will Still Send It Their Customers
description: Francisco Partners is buying Moneris from BMO and RBC for about C$2.0 billion, and both banks will keep referring their customers to it exclusively.
author: Darie Nani (Editor-in-Chief)
updated: 2026-08-11T03:22:18.644Z
canonical: https://www.sovereignmagazine.com/article/bmo-rbc-sell-moneris-francisco-partners
categories: FinTech
content_type: News
region: Canada
publication: Sovereign Magazine
schema_type: Article
---

Bank of Montreal and Royal Bank of Canada have agreed to sell Moneris Solutions Corporation to Francisco Partners for roughly C$2.0 billion in cash, splitting the proceeds equally. Under a separate set of arrangements that take effect when the sale closes, both banks will keep referring their own customers to Moneris on an exclusive, long-term basis. The transaction is subject to regulatory approval and customary closing conditions.

The two banks have jointly owned Moneris for 25 years. Once the sale closes they will no longer own any of it, while their customers continue to be pointed toward it.

Neither bank has said how long the referral arrangements run, what either side is paid under them, or what led to the structure. Those terms are not in the disclosed record.

## BMO and RBC Keep Exclusive Referrals After the Sale Closes

BMO Financial Group, listed in Toronto and New York, says that concurrent with the closing of the transaction, it and RBC will enter into [new exclusive, long-term referral arrangements](https://newsroom.bmo.com/2026-08-10-BMO-Announces-Sale-of-Moneris) with Moneris. BMO puts its share of the consideration at 50 percent.

Moneris was created 25 years ago and now handles payments at more than 325,000 points of commerce across Canada. It employs close to 2,000 people, and its head office and technology infrastructure are in the country. James Hicks, the company's President and CEO, says its relationships with the two banks reach past ownership.

> "The deep relationships we have built with BMO and RBC extend well beyond ownership."
> — James Hicks, President and CEO, Moneris

Sharon Haward-Laird, who runs BMO's Canadian commercial banking and co-heads its Canadian personal and commercial bank, says Moneris has spent 25 years earning the trust of Canadian businesses, and that the sale lets it accelerate its strategy in a payments market that is changing quickly.

## Francisco Partners Brings a Payments Portfolio That Includes Verifone and NMI

Francisco Partners describes itself as a global investment firm that specialises in partnering with technology companies. Its earlier payments and fintech investments include Hypercom, Paymetric, PayLease, NMI and Verifone. Jeff Sloan, formerly President and CEO of Global Payments Inc., joins Moneris as Chairman.

## FAQ

**Q: What is Moneris?**
Moneris is a Canadian payments company created 25 years ago as a joint venture between BMO and RBC. It handles payments at more than 325,000 points of commerce across Canada and employs close to 2,000 people.

**Q: Who will own Moneris?**
Francisco Partners has agreed to acquire Moneris from BMO and RBC for roughly C$2.0 billion in cash, subject to regulatory approval. The two banks each own half of Moneris today and will each receive half of the proceeds.

**Q: Is Francisco Partners a private equity firm?**
Yes. It describes itself as a global investment firm specialising in partnering with technology companies, and its payments and fintech investments include Hypercom, Paymetric, PayLease, NMI and Verifone.