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Tag: Fiserv

  • Fiserve CEO: From Large To Small There’s a Comeback In Payments

    Fiserve CEO: From Large To Small There’s a Comeback In Payments

    “It’s a great space a great and a great opportunity,” says Fiserv CEO Frank Bisignano. “You have to love the clients and you have to love the payment space. The opportunity to build things and grow is always a lot of fun. From large to small there’s a comeback in payments and we see growth going forward.”

    Fiserv, a major fintech player worldwide, had a strong earnings report in the second quarter with 129 percent growth in revenue.

    Frank Bisignano, CEO of Fiserv, discusses how their Clover acquisition will help the company power their growth going forward. Fiserv announced that they completed their $22 billion purchase First Data which included Clover on July 29:

    From Large To Small There’s a Comeback In Payments

    Clover is an unbelievable platform. It continues to grow. It serves small businesses. We think it’s integral. Our bank partners love it since we announced the deal. We have 160 new banks that want to be Clover partners with us. It is growing. We talked about a 32 percent growth rate in July in the heat of a pandemic. It’s a tool that we help businesses manage their business through. It’s a great asset to help small businesses. We see it as an integrated solution for our company.

    We’ve seen growth with Clover. We talked about seeing what we call internal revenue growth which is driven by transaction volume. We see transaction volume up and there is obviously a large move to e-com. If you look at our Clover platform which has order ahead capabilities and virtual terminal that’s driving that growth. From large to small there’s a comeback in payments and we see growth going forward. There are still businesses coming back in the recovery. Lots of businesses are still working their way back. We’re here to help small businesses grow.

    Fiserve CEO Frank Bisignano: From Large To Small There’s a Comeback In Payments
  • PayPal and Fiserv Bringing Direct Deposit to PayPal and Venmo Accounts

    PayPal and Fiserv Bringing Direct Deposit to PayPal and Venmo Accounts

    Gig workers, and others who rely on PayPal, will be able to have payments direct deposited thanks to a partnership between PayPal and Fiserv.

    PayPal is one of the most popular options for many gig workers and small business owners to be paid. The company has been expanding its offerings to compete more with traditional banks, even offering a debit card that provides cash back. The missing piece, however, has been the ability to receive direct deposit payments, such as paycheck.

    PayPal and Fiserv are partnering to address that shortcoming, providing a way for businesses to send direct deposits to both PayPal and Venmo accounts, via Fiserv’s Carat commerce platform.

    “Fiserv is helping organizations across the globe move money and information with the speed, flexibility, and convenience that today’s consumer is demanding,” said Nandan Sheth, Head of Carat and Digital Commerce at Fiserv. “With the addition of payouts to PayPal and Venmo accounts via our Carat ecosystem, businesses can benefit from enhanced visibility of their brand via a logo, tagline or customized message in Venmo’s social payments platform. This provides our clients with a unique opportunity to drive next generation customer experiences, with the simplicity of doing so at scale through a single API.”

    “With more than 400 million active accounts on the PayPal and Venmo platforms, we are able to provide companies with a fast, easy, and cost effective way to send money in situations such as insurance payouts or other disbursements,” said Dan Leberman, Senior Vice President of Partnerships, PayPal. “This integration is the next step in our long standing partnership with Fiserv and will provide substantial value to enterprises that need to send money directly to customers.”

    The announcement is good news for PayPal and Venmo users, and should help drive usage even more.

  • Consumers’ Financial Lives Becoming More Digital

    Cha-ching! In the United States, half of all bill payments made (by households with access to the Internet) are being paid online. Nearly forty percent of mobile banking users have paid a bill using their phone and one out of every four online households have used mobile banking. Interesting numbers and findings from the latest Fiserv Consumer Trends Survey announced today by Fiserv, a leading global provider of financial services technology solutions. The survey was completed in August of 2011 by 3,000 individuals representative of the U.S. online population and provides insight into the consumer use of digital channels for financial services since 2002.

    The survey revealed that consumers are increasingly moving toward online and mobile channels for their daily financial management and that demand for tablet banking services will be growing in the future. According to Fiserv, the proliferation of smartphones, changing consumer expectations and entrance of non-traditional competitors has sparked a literal mobile banking revolution that financial institutions should consider an urgent call to action. To remain competitive in this rapidly evolving area, financial institutions will have to utilize mobile banking and payments strategies. Detailed findings from the survey are available in a free research paper, “Financial Services Continue the Digital Shift,” at www.fiserv.com/research

    Consumers have definitely gone digital and are moving beyond only using mobile channels to check balances or locate an ATM. Mobile banking is gaining popularity with a remarkable increase in transactions. Smart users are now taking advantage of being able to pay bills and transfer money online. The survey results found that sixty percent of users use a mobile browser (most common) for mobile banking access. Forty-one percent of those surveyed utilized downloadable apps and thirty-two percent used text messaging.

    Geoff Knapp, Vice President, Online Banking, Digital Channels for Fiserv remarks, “Consumers’ lives are becoming more and more digital, and their financial lives are no exception. They are increasingly turning to the online and mobile channels for everything from opening accounts to sending and receiving money, and their interest in using new devices like tablets for financial services is strong.”

    Nineteen percent of online households currently own a tablet and another twenty percent plan to purchase one according to the survey. This means almost forty percent of online households could own a tablet by the middle of 2012. Additionally, multi-tablet homes are emerging with thirty-seven percent of current tablet owners saying they plan to purchase another. These current and future tablet owners and operators plan to use them to view monthly statements, pay bills, view real-time account information and transfer money.

    Mobile and Tablet Banking – Fiserv Consumer Trends Survey

    View more presentations from Fiserv