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Financial institutions have the potential to create numerous opportunities by acquiring other companies.
Fiserv, a global leader in payment processing and financial services technology, is bolstering its embedded financial offerings through the acquisition of fintech firm Payfare.
This strategic move will allow Fiserv to enhance its workforce payment solutions and embedded finance capabilities, diversify its product lineup, and tap into the new economy market to expand its client base.
Frank Bisignano, the Chairman, President, and CEO of Fiserv, stated, “Payfare has established itself as a pioneer in workforce payment solutions for gig economy businesses.”
“By joining forces, we can expedite the introduction of embedded finance solutions for all our clients, empowering them to reach new heights of success. We are excited to welcome the talented team from Payfare to Fiserv.”
This acquisition will not only provide access to new customers, revenue streams, and markets but will also enhance Fiserv’s capabilities by combining their expertise, products, and innovative technologies.
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