Moneris Sale Sparks Fears Over Canadian Data Sovereignty

A major Canadian payments processor is being sold to an American private equity firm. Moneris Solutions Corp., which handles around a third of Canada's business transactions, will change hands in a deal valued at just over $2 billion.

The sale has raised concerns about the country's data sovereignty and strategic infrastructure in the digital economy. Critics argue that the deal should not be approved as it would give foreign control over critical payment systems.

In 2024, another Canadian payments company, Nuvei, was taken private by a US firm for $6.3 billion. This has led to questions about how Canada recognizes and values its strategic assets in the digital economy.