When the Toronto Blue Jays play the Chicago Cubs, there's likely some pretty serious fan rivalry at Moneris Solutions. The company, which operates headquarters in both North American cities, is a joint venture between Royal Bank of Canada and the Bank of Montreal. A credit card processing and merchant services company, Moneris Solutions provides businesses with various card processing capabilities such as point-of-sale hardware, payment processing software, and other products and services. It also offers businesses online merchant reports and even payroll processing as well as business consulting services. The company serves more than 350,000 merchant locations throughout the US and Canada.
Moneris is bidding on the Royal Bank of Scotland Group's Global Merchant Services division. Other bidders include CVC Capital Partners, and a group of US private equity firms. – less