Fiserv
| File:Fiserv logo.svg Logo used since 2019 | |
| Company type | Public |
|---|---|
| Industry | Financial technology |
| Founded | 1984 |
| Headquarters | Milwaukee, Wisconsin , United States |
Area served | Worldwide |
Key people | Frank Bisignano (CEO) |
| Products | Carat, CardHub, Clover |
Number of employees | 19,000 (2023) |
| Website | fiserv |
Fiserv, Inc. () is a U.S.-based multinational firm specializing in financial technology, with its headquarters situated in Milwaukee, Wisconsin. The company offers a broad range of financial technology solutions and services catering to diverse clients within the financial services industry, including banks, thrifts, credit unions, securities broker-dealers, mortgage lenders, insurance providers, leasing and finance companies, as well as retail businesses.
In October 2015, Fiserv ranked third in revenue among technology suppliers to U.S. banks according to American Banker and BAI. By 2019, the company reported total revenues amounting to $10.187 billion. Fiserv is also the parent company of First Data, which operates a network connecting two million ATMs through the STAR network. Additionally, Fiserv holds the naming rights for Milwaukee’s Fiserv Forum arena.
1980s and 1990s
Established in 1984, Fiserv went public on NASDAQ just two years later. Its initial expansion was largely fueled by acquisitions, most notably Citicorp Information Resources, which positioned Fiserv prominently in the commercial banking and credit union core processing sector. The purchase of Information Technology, Inc. (ITI) in 1995 broadened its account processing capabilities with Premier, then recognized as the most widely adopted platform in the United States. That same year marked the launch of its corporate website, followed by the introduction of electronic bill payment (E-bills) in 1997, a service that contributed to reaching $1 billion in revenue.
2000s
From 2000 through 2017, Fiserv pursued an aggressive acquisition strategy to accelerate growth. Significant transactions included the acquisitions of General American Corporation and Consumer Network Services in 2003. Jeff Yabuki assumed the role of CEO in 2005 and led several important acquisitions such as Del Mar Database, U.S. eLending assets from Emergis, and BillMatrix. In 2006, Fiserv expanded further by acquiring CareGain, Inc., along with assets from CT Insurance Services and CCH Wall Street.
The company’s largest acquisition occurred in 2007 with CheckFree, a prominent provider of online banking solutions, bill payment services, and ACH processing software; this transaction also encompassed CheckFree’s earlier acquisitions like Corillian and PhoneCharge. That year also saw Fiserv acquire NetEconomy to enhance its capabilities in financial crime management.
In 2008, Fiserv broadened its billing software offerings through the acquisition of Interactive Technologies, gaining ownership of the Advantage Fee System designed for complex fee calculations. The company further augmented its item processing services by purchasing Montana-based i_Tech from First Interstate BancSystem and The Data Center from BBVA Compass Bank located in Texas.
2010s
In 2010, Fiserv acquired AdviceAmerica, a provider specializing in software solutions for financial institutions.
The following year, the company enhanced its mobile banking portfolio by acquiring M-Com, a mobile application developer based in New Zealand. During 2011, Fiserv also acquired Maverick Network Solutions—a Delaware-based debit services firm—and CashEdge, known for payment products including Popmoney.
Growth continued in 2013 with the acquisition of Open Solutions for $55 million while assuming $960 million in debt; this deal strengthened Fiserv’s core account processing offerings.
In 2016, Fiserv expanded its digital banking and payment service capabilities by purchasing Community Financial Services from ACI Worldwide along with Convenience Pay from Hewlett Packard.
Further reinforcing its payments infrastructure in 2017, Fiserv acquired Dovetail and Monitise to broaden its digital and mobile payment services.
In 2018, the company added MoneyPass—a surcharge-free debit card and ATM network—from Elan Financial Services, a division of U.S. Bancorp.
A landmark transaction occurred in 2019 when Fiserv completed the $22 billion acquisition of First Data, one of fintech’s largest deals ever. This acquisition substantially increased Fiserv’s global presence and market share within payment processing.
2020s
In 2020, Fiserv enhanced its omni-commerce offerings by acquiring Bypass Mobile, a platform focused on enterprise point of sale solutions. That same year marked a change in leadership as CEO Jeffery Yabuki resigned and was replaced by Frank Bisignano.
Throughout 2021, Fiserv bolstered its digital payment services through several acquisitions: Ondot Systems, which provides a digital experience platform for financial institutions; NetPay, a payment facilitation company; and BentoBox, known for its online restaurant management solutions.
The expansion continued in 2022 with the purchase of Finxact, a cloud-native core banking provider, along with TIF District. To ensure Fiserv’s headquarters remained in downtown Milwaukee, the city created a $7 million tax incremental financing district tied to retaining a minimum of 780 employees at that site.
In October 2023, Fiserv further increased its footprint in Brazil by acquiring Skytef, the primary distributor of the Software Express payment solution SiTef.
Early in 2025, Fiserv finalized acquisitions of Payfare and Australian payment facilitator Pinch Payments, extending its global reach. Later that year, it announced plans to acquire Money Money Servicos Financeiros S.A., a Brazilian fintech firm, reinforcing its strategy of targeted growth through strategic international acquisitions.
Litigation with Shift4
After acquiring First Data in 2019, Fiserv inherited a substantial legal conflict between its subsidiary CardConnect and competitor Shift4. This multi-year lawsuit centered on breach of contract allegations and was resolved confidentially in late 2022 following direct discussions between Fiserv CEO Frank Bisignano and Shift4 CEO Jared Isaacman.
Acquisitions and mergers
- Largest deal: First Data Corporation acquisition in 2019 valued at $22 billion
- Total acquisitions: More than 24 companies since founding
- Key sectors: Payments, fintech innovation, banking services, and digital solutions
| Year | Acquisition/Merger | Details |
|---|---|---|
| 1991 | Citicorp Information Resources | Entered core account processing market for commercial banks and credit unions |
| 1995 | Information Technology, Inc. (ITI) | Obtained Premier account processing platform |
| 2003 | General American Corporation (GAC) | Significant corporate acquisition |
| 2005 | Multiple Acquisitions | Included Del Mar Database, Interactive Technologies, BillMatrix among others |
| 2006 | CareGain, Inc. | Technology acquisition to enhance service portfolio |
| 2006 | Asset of CT Insurance Services | Expanded financial services offerings |
| 2007 | CheckFree Corporation | Largest acquisition at the time; broadened online banking and bill pay capabilities |
| 2007 | NetEconomy | Acquired technology services provider |
| 2008 | Interactive Technologies, Inc. | Billing software company acquisition |
| 2008 | The Data Center | Texas-based item processing firm added to strengthen operational capacity |
| 2010 | AdviceAmerica | Integrated software solutions for financial institutions |
| 2011 | M-Com and CashEdge | Acquired mobile banking applications and payment platforms |
| 2016 | Community Financial Services (from ACI Worldwide) | |
| 2017 | Dovetail | Technology services acquisition supporting business expansion |
| 2018 | MoneyPass | Extended surcharge-free debit card network |
| 2019 | First Data Corporation | '$22 billion merger; transformative deal expanding market presence |
|
Multiple acquisitions including Bypass Mobile, Ondot Systems, BentoBox, Finxact, Merchant One, Yacare, Skytef | Focused on enhancing digital experience platforms, cloud banking solutions, payment service expansion in Latin America and enterprise POS systems |
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Payfare Inc. and Pinch Payments| Expected acquisitions of embedded finance and program management providers; Australian payment facilitator and management platform targeted |
Products
Fiserv offers a range of solutions, including:
- Carat, a platform designed to streamline payments and enhance customer interactions for major corporations
- CardHub, which provides users with access to digital payment card options
- Clover, a point-of-sale solution tailored for small businesses that integrates payment processing with sales management
External links
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- Financial technology companies
- Financial services companies of the United States
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- Software companies based in Wisconsin
- Financial services companies established in 1984
- American companies established in 1984
- Companies formerly listed on the Nasdaq
- Companies listed on the New York Stock Exchange
- Waukesha County, Wisconsin
- 1980s initial public offerings
- Kohlberg Kravis Roberts companies
- Banking software companies
- Multinational companies headquartered in the United States
- Software companies established in 1984
- Companies based in Milwaukee
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