Fiserv, Inc., a leading global provider of payments and financial services technology, today announced that it has signed a multi-year Strategic Managed Services program agreement with TD Bank Group, where TD Merchant Solutions will utilize Fiserv technology, including Clover, „the world’s smartest point-of-sale system”, for its merchant business. „This agreement deepens Fiserv’s relationships in Canada and creates new opportunities to scale Clover hardware and SaaS solutions.” – according to the press release.
„In addition, Fiserv entered into a purchase agreement with TD to acquire a part of TD’s merchant processing business in Canada. The acquisition includes a portfolio of approximately 3,400 TD merchant relationships with 30,000 merchant locations that will migrate to Fiserv’s processing system and Clover.” – the company explained.
“We are pleased to expand Clover’s reach and increase our commitment to Canada through this partnership with TD,” said 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. I look forward to welcoming all businesses to our platform.”
„At TD, we are focused on helping our business clients succeed,” said Barbara Hooper, Group Head, Canadian Business Banking, TD Bank Group. „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.”
The transaction is expected to close later this year, subject to customary closing conditions. Financial terms of the transaction were not disclosed.
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