RBC and BMO Explore $2 Billion Sale of Moneris

Royal Bank of Canada (RY.TO) and Bank of Montreal (BMO.TO) are exploring a venture that could reshape the payment industry landscape. The two banks are contemplating selling their jointly owned payment processor, Moneris, potentially valuing the company at $2 billion. This prospective sale reflects a larger trend where major banks are divesting from payment processing units, a move driven by increasing digitization and capital demands.