RBC, BMO planning sale of Canadian payments venture, Reuters reports

Royal Bank of Canada (RY) and Bank of Montreal (BMO) have placed their Canadian payments joint venture up for sale, in a deal that may value the business as highly as $2B, four people familiar with the matter said, according to Reuters’ Milana Vinn and David French report. Moneris is one of the largest payment processors in Canada, handling one in every three business transactions in the country. It was founded in 2000 by the two banks, and offers digital, mobile, and in-store payment systems for about 325,000 merchant locations, according to its website.