Business
TD Announces Strategic Relationship with Fiserv to Enhance TD Merchant Solutions Offering in Canada
TD Announces Strategic Relationship with Fiserv to Enhance TD Merchant Solutions Offering in Cana...
About this update from Toronto-dominion Bank
[{"type":"text","content":"\n\n\n\n TD Announces Strategic Relationship with Fiserv to Enhance TD Merchant Solutions Offering in Canada\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n Transaction simplifies operating model and improves financial performance\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n July 23, 2025\n \n\n /CNW/ - TD Bank Group (\"TD\") (TSX: TD) (NYSE: TD) announced today that it has finalized a strategic relationship with Fiserv, a leading global provider of payments and financial services technology, to elevate the client experience within the TD Merchant Solutions business in\n \n Canada\n \n (\"\n \n TDMS\n \n \")  and continue bringing best-in-class solutions to its Canadian clients. The relationship will also simplify TDMS and reduce costs, improving financial performance for TD over time.\n \n\n TDMS will provide Fiserv's advanced Clover product offering, payment processing and servicing to its clients. The transition for clients will be seamless as they will continue to have access to merchant solutions enabling them to accept credit and debit payments.\n \n\n \"At TD, we are focused on helping our business clients succeed,\" said\n \n Barbara Hooper\n \n , 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.\"\n \n\n As part of this new strategic relationship, TD and Fiserv are also entering into a purchase agreement, which will include Fiserv acquiring a part of the TD merchant processing business relating to a select portfolio of approximately 3,400 TDMS merchant group contracts with 30,000 merchant locations. This divestiture, which is not material to TD, is subject to customary closing conditions and is expected to close in late fiscal 2025, at which time the agreement reflecting TD's strategic relationshi...