08:43 AM EDT, 07/23/2025 (MT Newswires) -- Fiserv ( FI ) and Toronto-Dominion Bank ( MLWIQXX ) said Wednesday that Fiserv ( FI ) has signed a purchase agreement with TD Bank to buy a part of its merchant processing business in Canada for an undisclosed fee.

The acquisition includes a portfolio of nearly 3,400 TD merchant relationships with 30,000 merchant locations that will migrate to Fiserv's ( FI ) processing system and Clover.

The transaction is expected to close later this year, the companies said.

The companies also said they have signed a multi-year managed services agreement, a deal that enables TD's merchant business to utilize Fiserv ( FI ) technology, including its point-of-sale system, Clover.

As part of the agreement, TD Bank's merchant business will provide Fiserv's ( FI ) Clover product offering, payment processing, and servicing to its clients, it said.