Fiserv Announces Strategic Relationship With TD
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. This transaction expands the footprint of the Clover platform, underscoring Fiserv's commitment to delivering innovative solutions to small and medium-sized businesses.
'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.
About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, moves more than money. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and Clover ®, the world's smartest point-of-sale system and business management platform. Fiserv is a member of the S&P 500 ® Index, one of TIME Magazine's Most Influential Companies™ and one of Fortune ® World's Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.
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