Fiserv boosts embedded finance offering with Payfare acquisition

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Fiserv made its move into embedded finance in October last year, making capabilities from its merchant acceptance, banking, and card issuing businesses available to others through a set of APIs.

The acquisition of Payfare complements the embedded finance solutions of Fiserv with card programme management, a white-label consumer app, and a microservices orchestration layer.

Frank Bisignano, chairman, president and CEO of Fiserv, says: “Together, we can accelerate the delivery of embedded finance solutions for all of our clients, empowering their next chapter of success.”

“Joining Fiserv is a tremendous opportunity for Payfare,” adds Marco Margiotta, CEO and founding partner of Payfare. “We recognize that Fiserv gives us enhanced scale and technology which better positions us to serve a growing number of large organizations and deliver a modern digital experience.”

Terms of the transaction have not been disclosed.