When Fiserv purchased First Data in 2019, it was part of an industrywide push to combine bank and merchant technology under one roof. A year later, a key piece of First Data’s technology — and its top executive — have become Fiserv’s path through the pandemic. As payments volume across the world plummeted, Fiserv’s Clover…
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The deal will also streamle how payments technology is packaged with other merchant services in the sales process, Woods said. “The other large companies do have components of that but they are also doing mortgage services and many other things that a bank might need,” Woods said. “We are purely a payments technology company.” Stripe…
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Fiserv’s $22 billion deal to acquire First Data creates pressure to scale core banking and payment processing that may force further industry consolidation. That puts M&A bullseyes on companies like FIS, TSYS and myriad bank IT and merchant services companies. “A deal has been brewing for years and it was no secret that Fiserv has…
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The news that Fiserv is buying First Data may be unwelcome to small banks and credit unions as some fear it will create a combined entity that is even slower and more bureaucratic than the large core vendors are seen as today. The deal makes sense for Fiserv. It brings together two financial industry behemoths:…
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It’s impossible to predict how long consumers around the globe will cling to using plastic cards for payments, but not uncommon to hear predictions of the product’s demise. Entrust Datacard, which serves both sides of the physical and digital payments spectrum, sees the categories’ fates as intertwined. The more momentum digital and mobile wallets have,…
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Paysafe, the U.K.-based payments provider serving a concentration of small and midsize merchants in global markets, is buying iPayment Holdings, a processor with a similar focus in the U.S. The move will bring 450 employees in Westlake Village, Calif.-based iPayment’s four U.S. offices and more than 137,000 merchant customers under Paysafe’s umbrella, putting it among…
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The more bidders, the merrier. That philosophy among small-bank sellers is driving the increase in credit union acquisitions of banks this year, and it’s a big reason the trend is expected to gain further steam. More sellers are inviting offers from credit unions — in addition to putting out the normal feelers among banks —…
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In a move to support its business-to-business payments platform, Visa has agreed to acquire the software provider Fraedom. Fraedom, which offers payments and transaction management software-as-a-service solutions for financial institutions and their corporate customers, has been a Visa partner for nearly 10 years. Fraedom technology currently powers the Visa IntelliLink Spend Management platform that has…
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