Canada's Digital Sovereignty at Risk as Payment Giant Moneris Sold to US Private Equity Firm The recent sale of Moneris, one of Canada's largest payment processing companies, to American private equity firm Francisco Partners has sparked concerns about the country's ability to protect its citizens' digital data.
The deal gives the U. S. access to a vast trove of sensitive information about Canadian consumers, including their purchasing habits and financial transactions.
Moneris handles approximately one third of all payment transactions in Canada, processing over $5 billion annually through more than 325,000 points of commerce.