Fiserv Acquires Australian Payment Facilitator Pinch Payments
Fiserv says it has acquired payment facilitator (PayFac) Pinch Payments and its management platform Glassbox.
As the company noted in a Monday (April 7) announcement, Pinch — founded in 2017 and serving roughly 2,000 merchants in Australia and New Zealand — provides tools to facilitate payments more efficiently at scale.
“This acquisition further demonstrates Fiserv’s commitment to the local payments market, following our recent launch of Clover in Australia,” Gavin Jones, head of Fiserv Australia, said in a news release.
“By integrating our leading digital payments solutions with Pinch’s innovative technology and local expertise, we are able to deliver innovative payment solutions to empower merchants across the APAC region,” he added.
According to the release, the deal gives Fiserv a payment orchestration platform that supports flexible service options and speed to market for PayFacs, independent software vendors (ISVs), business payment solutions providers (BPSPs), independent sales organizations (ISOs) and enterprises.
“Joining Fiserv is an incredible opportunity for the Pinch team and furthers our mission to provide seamless partner experiences to a growing number of merchants,” said Paul Allen, Pinch Payments’ co-founder and CEO. “Having worked closely with the Fiserv team, I am confident in our roadmap to expand into new markets.”
The deal is the latest in a string of acquisitions for Fiserv. Last month, the company announced it had purchased CCV, a payment solutions provider that does business in the Netherlands – where it is based – as well as Belgium and Germany.
This acquisition, the company said, will allow Fiserv to speed deployment of its Clover point-of-sale (POS) platform throughout Europe.
Founded in 1958, CCV offers services such as transaction processing, online and closed-loop payments, acquiring and a range of in-store and self-service payment terminals. Fiserv called them “a pioneer in payments,” having facilitated the first electronic payments in its home country 55 years ago.
And in December, Fiserv said it was acquiring earned wage access (EWA) provider Payfare, a move the company said “complements the embedded finance solutions of Fiserv with card program management, a white-label consumer app, and a microservices orchestration layer.”
Meanwhile, PYMNTS Intelligence collaborated with Fiserv recently on “GenAI Applications in Retail Transaction Analysis: Industry Trends and Insights,” which found that 73% of retailers plan to ramp up their GenAI investments this year.
The post Fiserv Acquires Australian Payment Facilitator Pinch Payments appeared first on PYMNTS.com.