Fiserv, Inc. (FI) is a global financial technology (FinTech) and payments company. They are a major provider of the technology infrastructure and services that power financial institutions and businesses worldwide.
Here’s a breakdown of what kind of company they are and what they do:
- Financial Services Technology (FinTech): This is their core business. Fiserv develops and provides a wide range of software, platforms, and solutions for banks, credit unions, and other financial institutions.
- Payments Processing: A significant part of their business involves facilitating electronic payments. This includes:
- Merchant Acquiring: Through their acquisition of First Data, they are a leading provider of payment processing services for businesses, from large enterprises to small businesses (e.g., through their Clover POS system). This enables merchants to accept various payment types like credit/debit cards, mobile payments, and online transactions.
- Card Issuer Processing and Network Services: They provide services for issuing banks, supporting debit and credit card processing, and managing payment networks (like the STAR network).
- Digital Payments: Solutions for online banking, mobile banking, electronic bill payment and presentment (EBPP), person-to-person (P2P) payments, and more.
- Account Processing and Digital Banking Solutions: Fiserv offers core banking platforms that help financial institutions manage customer accounts, transactions, and digital banking experiences.
- Solutions for Various Clients: They serve a broad spectrum of clients, including:
- Financial Institutions: Banks, credit unions, large financial institutions.
- Businesses and Merchants: From large corporations to small businesses.
- Fintech Companies: Providing connectivity and solutions for other technology providers in the financial space.
- Public Sector: Governments, education, and utilities.
- Software Providers (ISVs): Helping independent software vendors integrate and monetize payments within their software.
In essence, Fiserv acts as a critical behind-the-scenes enabler for the financial world, providing the technology that allows money to move, businesses to accept payments, and financial institutions to manage their operations and serve their customers. They generate revenue through various streams, including software licensing, subscription services, and transaction fees
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