Global fintech leader Fiserv has entered into a multi-year strategic agreement with TD Bank Group, which includes the acquisition of a portion of TD’s Canadian merchant processing business. As part of the deal, TD Merchant Solutions will adopt Fiserv’s point-of-sale technology, including the widely-used Clover system, to support its merchant services operations.
The agreement involves the transfer of approximately 3,400 TD merchant relationships representing 30,000 merchant locations to Fiserv’s processing infrastructure. This move is set to expand Clover’s reach in the Canadian market and deepen Fiserv’s presence in North America.
“This partnership reinforces our strong relationship with TD and reflects our shared commitment to delivering innovative, value-driven solutions to clients,” said Takis Georgakopoulos, Chief Operating Officer at Fiserv.
Barbara Hooper, Head of Business Banking at TD, emphasized the deal’s benefits for Canadian merchants, noting that it combines TD’s banking solutions with Clover’s advanced payment technology to help businesses thrive.
The transaction is expected to close later in 2025, pending regulatory and customary approvals. Financial details remain undisclosed.
The deal aligns with TD’s broader innovation agenda, including the recent launch of TD AI Prism, a proprietary AI foundation model developed under its TD Invent initiative, aimed at redefining personalized banking experiences.
