BROOKFIELD, Wis.—More than 50 financial institutions that utilize a Fiserv core processing platform added merchant solutions to their portfolio between the late July combination of Fiserv and First Data and the end of 2019, Fiserv reported.
“Pairing a merchant offering alongside core technology from Fiserv allows banks and credit unions to better identify business banking opportunities, enable digital enrollment for merchant solutions, and deliver differentiated value to small and mid-sized businesses through the cloud-based Clover platform from First Data, now Fiserv,” Fiserv said in a statement.
Central Missouri Community Credit Union, a Fiserv core processing client for more than 30 years, has added merchant solutions.
“Adding merchant solutions from Fiserv will enable us to offer significant new value to our members who own and operate small businesses in our community,” said Carol White, CEO at Central Missouri Community Credit Union. “Payment acceptance is the lifeblood of small businesses, and we look forward to partnering with those small business owners in their future success.”
Four Benefits Cited
Fiserv completed its acquisition of First Data on July 29, 2019. The company said the combination of the two companies built an offering of end-to-end solutions spanning the value chain of payments, including four benefits for financial institutions that are unique in the industry:
- Merchant Opportunity Analysis: Financial institutions are able to pull data from their core processing platforms to identify small business customers who are accepting debit and credit card payments
- Digital Merchant Enrollment: An integrated merchant services enrollment portal that sits within the financial institution’s website gives website visitors the ability to create a merchant account through their bank or credit union in less than five minutes
- Access to Clover: Financial institutions can offer the market-leading cloud-based point-of-sale platform to small and mid-sized businesses
- Integration with Core and Digital Banking Solutions: Merchant customers can see their business’ real-time payment data within their cash flow management dashboard