More NewsTD Merchant Services to Buy Some MasterCard Acquiring Accounts from First Data

TD Merchant Services to Buy Some MasterCard Acquiring Accounts from First Data

TD Merchant Services, part of the TD Bank Financial Group, has signed a definitive agreement to acquire certain MasterCard merchant acquiring accounts from First Data in Canada.

Concurrently, First Data will acquire a small number of Visa accounts from TD. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in December.

The acquired accounts will become part of TD Merchant Services, which already provides Visa and Interac payment processing services and point-of-sale (POS) terminal solutions to all of these customers today. “Acquisition of these MasterCard merchant accounts will ensure our clients have a single source for their payment processing needs,” said Jeff van Duynhoven, president, TD Merchant Services.

In conjunction with this acquisition, TD Merchant Services and First Data will end their reciprocal referral arrangement. Following closing, TD Merchant Services will offer its customers a complete credit and debit card payment solution including Visa, Interac and MasterCard acceptance.

Related Articles

Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

2m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

3m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

3m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

3m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

4m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

4m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

4m Tasja Botha
FX for corporates: 5 best practices for treasurers

Economy FX for corporates: 5 best practices for treasurers

4m Mateo Graziosi