Canada's Digital Sovereignty at Risk as Payment Giant Sold to US Firm

A Canadian payment processing giant is being sold to an American private equity firm for $2 billion. Moneris, owned jointly by the Royal Bank of Canada and Bank of Montreal, will be acquired by Francisco Partners.

The deal has raised concerns about the potential impact on Canada's digital sovereignty, particularly amid the ongoing trade war with the US. Industry analysts warn that this could lead to negative repercussions for Canadians' digital privacy.

Sharon Polsky, president of the Privacy and Access Council of Canada, said Canadians should be concerned as their data will now be available to other governments. 'Will you be stopped at the border because your purchase records indicate that you bought something with THC?' she asked.