Fiserv has signed a multi-year deal with TD Bank Group, the Fortune 500 company announced, including an agreement to acquire a part of TD’s merchant processing business in Canada.
The contract will see TD Merchant Solutions utilize Fiserv technology, including point-of-sale system Clover, for its merchant business.
In addition, Fiserv will acquire a portfolio of approximately 3,400 TD merchant relationships with 30,000 merchant locations that will migrate to Fiserv’s processing system and Clover.
“We are pleased to expand Clover’s reach and increase our commitment to Canada through this partnership with TD,” stated Takis Georgakopoulos, Chief Operating Officer at Fiserv.
“This agreement reinforces our strong relationship with TD and underscores our shared commitment to delivering value to clients,” the COO said.
The transaction is expected to close later this year, subject to customary closing conditions.
Financial terms of the transaction were not disclosed.
“At TD, we are focused on helping our business clients succeed,” commented Barbara Hooper, who heads Business Banking for TD Bank Group in Canada.
“This strategic relationship with Fiserv will directly benefit our clients by combining Clover, Fiserv’s innovative merchant product offering, with our business banking solutions, providing our merchants with the capability to leverage the latest technology to process payments and grow,” she remarked.
As Canada’s most valuable brand in 2025, TD Bank Group recently unveiled TD AI Prism, a proprietary artificial intelligence foundation model built in-house that is designed to reshape how the bank predicts customer needs and delivers personalized experiences.
TD AI Prism is part of TD Invent, the bank’s strategic innovation initiative.
Fiserv trades publicly as FI.
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