Businesses that use TD’s Merchant Solutions, which offers e-commerce and point-of-sale payment processing, will have access to Fiserv’s Clover platform, which provides similar services, through a new partnership. Wisconsin-based Fiserv will also acquire about 3,400 of TD’s payment processing contracts, serving 30,000 business locations, for an undisclosed amount. (The Logic)

Talking point: TD is the only major Canadian bank with a wholly-owned merchant payment processing and software business, a category that has a lot of competition from non-bank tech companies like Stripe, Square and Lightspeed. The partnership suggests TD sees value in working with its fintech competitors. Last year, TD also partnered with Texas-based BigCommerce, a Shopify competitor, to launch an e-commerce platform for small businesses. Being a bank in the merchant payments business carries a lot of advantages, as it gives TD access to valuable data on how its clients’ companies are performing.