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Fiserv, Inc. is a leading global provider of payments and financial services technology solutions, catering to a diverse clientele that includes merchants, banks, credit unions, other financial institutions, and corporate clients worldwide . The company operates through two main segments: Merchant Solutions and Financial Solutions, offering a range of commerce-enabling products and services . Fiserv is committed to innovation and integration, delivering superior value through its technology and services .
- Financial Solutions - Provides products and services to financial institutions, corporate, and public sector clients, facilitating the processing of customer loan and deposit accounts, digital payments, and card transactions. Includes services like debit and credit card processing, digital banking, financial and risk management, and check processing .
- Merchant Solutions - Offers commerce-enabling products and services such as merchant acquiring, digital commerce services, mobile payment services, security and fraud protection solutions, and pay-by-bank solutions.
- Clover® - A point-of-sale integrated commerce operating system for small businesses.
- CaratSM - An integrated commerce operating system for enterprise clients .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Frank J. Bisignano ExecutiveBoard | Chairman, President, and CEO | None | Frank J. Bisignano joined Fiserv in 2019 as part of the acquisition of First Data Corporation. He has held various roles, including COO, President, CEO, and Chairman. | |
Adam L. Rosman Executive | Chief Administrative Officer and Chief Legal Officer | None | Adam L. Rosman joined Fiserv in 2019 and has served as Chief Administrative Officer and Chief Legal Officer since 2021. He was previously General Counsel at OneMain Financial. | |
Guy Chiarello Executive | Chief Operating Officer | None | Guy Chiarello joined Fiserv in 2019 and has served as Chief Administrative Officer and Chief Operating Officer. He played a significant role in advancing Fiserv's innovation agenda. | |
Jennifer LaClair Executive | Head of Global Business Solutions | None | Jennifer LaClair joined Fiserv in 2023 as Chief Revenue Officer and became Head of Global Business Solutions in 2024. She was previously CFO at Ally Financial. | |
Michael P. Lyons Executive | President and CEO-Elect | None | Michael P. Lyons was appointed President and CEO-Elect of Fiserv in 2025. He was previously President of The PNC Financial Services Group. | |
Robert W. Hau Executive | Chief Financial Officer | None | Robert W. Hau has been the CFO of Fiserv since 2016. He previously held CFO roles at TE Connectivity Ltd. and Lennox International Inc. | |
Ajei S. Gopal Board | Director | Director at ANSYS, Inc. | Ajei S. Gopal joined the board of Fiserv in 2024. He is the President and CEO of ANSYS, Inc. | |
Charlotte B. Yarkoni Board | Director | None | Charlotte B. Yarkoni joined the board of Fiserv in 2023. She has held leadership roles at Microsoft and VMware. | |
Doyle R. Simons Board | Non-Executive Chairman of the Board | Director at Union Pacific Corporation, Director at Iron Mountain Incorporated | Doyle R. Simons has been a director at Fiserv since 2007 and was appointed Non-Executive Chairman in 2025. He was previously CEO of Weyerhaeuser Company. | |
Harry F. DiSimone Board | Director | None | Harry F. DiSimone has been a director at Fiserv since 2018. He serves as Chair of the Risk Committee and is a member of the Audit Committee. | |
Heidi G. Miller Board | Director | Director at Waystar, Inc. | Heidi G. Miller has been a director at Fiserv since 2019. She has held leadership roles at JPMorgan Chase and Citigroup. | |
Henrique de Castro Board | Director | Director at Banco Santander, S.A. | Henrique de Castro has been a director at Fiserv since 2019. He has held senior positions at Google and Yahoo! Inc. | |
Kevin M. Warren Board | Director | None | Kevin M. Warren joined the board of Fiserv in 2020. He has held executive roles at UPS and Xerox. | |
Lance M. Fritz Board | Director | Director at Parker-Hannifin Corporation, Member of The Business Council | Lance M. Fritz joined the board of Fiserv in 2024. He was previously Chairman, President, and CEO of Union Pacific Corporation. | |
Wafaa Mamilli Board | Director | Executive Vice President, Chief Digital & Technology Officer at Zoetis, Inc. | Wafaa Mamilli joined the board of Fiserv in 2021. She has extensive expertise in cybersecurity and digital transformation. |
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Regarding the SMB bundle, can you elaborate on the specific challenges of integrating products across both the Merchant and Financial Solutions segments, and how you plan to ensure its successful contribution to growth next year?
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As you expand Clover into Latin America and Australia, what risks do you anticipate in these new markets, and what strategies are in place to mitigate potential adoption hurdles?
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With the approval of your merchant acquirer limited purpose bank charter in Georgia, how might this change affect your relationships with existing bank partners, and are there any regulatory concerns that could impact this initiative?
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Given the raised guidance for organic revenue growth and adjusted earnings per share, what key factors are driving this optimism, and what potential headwinds could jeopardize achieving these targets?
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Can you provide more details on the partnership with DoorDash, specifically how this embedded finance application will impact your financial performance, considering the challenges associated with long implementation cycles in such initiatives?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
CCV Group B.V. | 2025 | Planned acquisition of a POS payment solutions provider, to be closed in Q1 2025 as part of a combined deal (with Payfare Inc.) valued at approximately $360 million. The move is strategically aimed at expanding the company's network of payment solutions within its Merchant segment. |
Payfare Inc. | 2025 | Planned acquisition designed to boost embedded finance capabilities by incorporating program management solutions that enable instant access to earnings and banking. It is included in the Financial segment and is part of the combined transaction valued at approximately $360 million closing in Q1 2025, subject to customary approvals. |
European Merchant Services B.V. | 2023 | Completed acquisition in September 2023 for $56 million, acquiring the remaining 49% interest in the Netherlands-based merchant acceptance business. The acquisition, funded by available cash and commercial paper proceeds, consolidates reporting within the Acceptance segment. |
Finxact, Inc. | 2022 | Completed acquisition on April 1, 2022 for approximately $645 million (net of $27 million acquired cash), enhancing the company's Fintech segment through cloud-native banking solutions that support digital transformation. The deal also recognized a pre-tax gain from remeasurement of the previously held equity interest. |
City POS (The LR2 Group, LLC) | 2022 | Completed acquisition on June 1, 2022 for approximately $26 million with earn-out provisions valued at $3 million, intended to expand the company's merchant services capabilities in the Acceptance segment through the ISO's payment processing and POS equipment sales services. The purchase price allocation included intangible assets and goodwill for tax-deductible benefits. |
NexTable, Inc. | 2022 | Completed acquisition on September 1, 2022 as part of a group transaction with an aggregate purchase price of approximately $686 million (net of $27 million acquired cash and including $6 million in earn-out provisions). The acquisition adds cloud-based reservation and table management solutions to the Acceptance segment, enhancing the company's restaurant offerings and omnichannel capabilities. |
Recent press releases and 8-K filings for FI.
- Fiserv, Inc. filed an 8-K on May 6, 2025, noting that Frank J. Bisignano resigned as Chairman, CEO, and director, with Michael P. Lyons stepping in as CEO and director, and Doyle R. Simons assuming the role of non-executive Chairman.
- The announcement also detailed the adjustment of performance share units, where significant portions vested on the Confirmation Date and unvested units were forfeited.
- Fiserv, Inc. and its subsidiary, Fiserv Funding Unlimited Company, entered into an underwriting agreement for a public offering of senior notes with aggregate principal amounts of €750 million (2.875% due 2028), €775 million (3.500% due 2032), and €650 million (4.000% due 2036) with payment guarantees by the Company.
- The offering is scheduled to close on May 7, 2025, with detailed underwriter participation outlined in Schedule A and customary representations, warranties, and closing conditions provided in the agreement.
- Strong Q1 performance: Reported GAAP revenue of $5.13B (5% growth, GAAP EPS $1.51, 22% YoY) and 7% organic revenue growth with adjusted EPS up 14% .
- 2025 outlook: Targets organic revenue growth of 10%-12% and adjusted EPS growth of 15%-17% .
- Strategic international expansion: Announced key acquisitions including Payfare, CCV Group, and Pinch Payments; executed deals in Canada, Netherlands, and Australia with an additional acquisition pending in Brazil, plus opened a new operating hub in Overland Park, Kansas .
- Liquidity & capital return: Generated $371M in free cash flow and repurchased $2.2B in shares .
- Leadership transition: Completed CEO change with Mike Lyons as CEO and promoted Takis Georgakopoulos to COO .
- Takis Georgakopoulos is appointed as the new Chief Operating Officer effective April 2, 2025, overseeing technology operations and Merchant Solutions.
- Guy Chiarello transitions to the role of Vice Chairman to support enterprise technology strategy and solutions starting April 2, 2025.
- Stable merchant performance was noted, with the Small Business Index showing modest year-over-year growth and subdued consumer spending, indicating overall stability in core operations.
- The company detailed Q1 considerations and global expansion plans, including launches in Brazil, Australia, and Mexico, along with key product initiatives like CashFlow Central and enhanced Clover capabilities.
- Guidance highlighted an outlook for margin expansion, with a target of at least 125 basis points improvement, and robust free cash flow performance projected at nearly $5.5 billion this year.
- On the M&A front, Fiserv mentioned modest recent acquisitions totaling roughly $300 million, with ongoing efforts to identify additional value-accretive opportunities.
- Strong financial performance: The call highlighted a 39-year streak of double-digit EPS growth with double-digit organic revenue growth and margin expansion, including $5.2 billion in free cash flow, underscoring robust financial fundamentals.
- Smooth CEO transition: New CEO Mike Lyons was introduced with a swift, seamless takeover of leadership, alongside the upcoming departure of former CEO Frank Bisignano.
- Innovative product strategy: The discussion emphasized ongoing investments in new products and integrated solutions such as CashFlow Central and Clover, along with the use of client forums to showcase the breadth of offerings in both merchant and financial solutions segments.