First Data

Incoming chief Frank Bisignano downplays any pressure to find $1.2 billion in cost cuts promised to shareholders from the acquisition of First Data. Instead he emphasized his track record of producing revenue growth and pledged to keep funding innovation projects.

When Fiserv purchased First Data in 2019, it was part of an industrywide push to combine bank and merchant technology under one roof. A year later, a key piece of First Data’s technology — and its top executive — have become Fiserv’s path through the coronavirus crisis.

Bisignano, who engineered a technology-driven recovery at First Data before it was acquired by Fiserv last year, will take Fiserv's top job as the company forges its coronavirus strategy.

Fiserv completed a PIN on Mobile transaction using only an app on a consumer grade handset, and plans to pilot the technology in Europe and Asia.

2019 kicked off with a series of large, multibillion-dollar acquisitions that promised to forever change the landscape of the payments industry. And while those big deals were clustered at the start of the year, many other pivotal deals took place over the course of the year.

Over the past several years, well-established companies in the space like Klarna and FIS have become big enough to buy competitors, fueling the majority of the M&A we’ve seen of late, says AvidXchange's Michael Praeger.

Now that the big, multi-billion dollar payment deals of the past year have closed, the companies must figure out how their new scale can address tasks such as software migrations or data sharing compliance in specific markets.

The big payment processor/bank technology mergers that were announced early this year are officially closing, setting the stage for complicated conversions and a fierce battle for customer share.

The large payment processor mergers were meant to give bigger companies a better way to compete against the nimble startups that were luring their customers away for digital services such as mobile point of sale. And post-merger, Fiserv and First Data have fired their first salvo.

Two of the three multibillion-dollar payment mergers announced in 2019 closed this week, and these global giants must now fend off the invigorated fintechs eager to nab unhappy merchant and bank clients.

If Bank of America had decided a few years ago to end its joint venture with First Data, it would have been looked upon as just another instance in which a bank was either planning to handle its own payments in-house, or turning those tasks over to a processor.

Bank of America said it will end a payments joint venture with First Data next June when a contract between the two companies expires.

The fallout from this spring’s slate of multibillion-dollar payment company acquisitions began swiftly, as Bank of America on Monday announced plans to end its joint venture with First Data just hours after Fiserv’s acquisition of First Data closed.

Fiserv expects its $22 billion purchase of First Data Corp. to close on Monday after clearing regulatory requirements.

An acquisition as large as Fiserv's deal to buy First Data has lots of moving parts, but one big piece may be a new First Data product that's designed to improve the vexing problem of payment approvals.

A trio of big deals in the payments and financial tech area and continued bank and venture capital interest in fintech investments are creating expectations for a banner year.

Fiserv Inc. is kicking off a cross-Atlantic bond sale that could raise about $12 billion to help finance its acquisition of First Data Corp.

Following the FIS-Worldpay and Fiserv-First Data deals, the payments and bank technology industries are in the midst of major consolidation, and TSYS is looking for a merger partner to stay competitive.

First Data has had significant relationships with Citi, Chase, Bank of America and other large banks — but a report that Bank of America may be ending its joint venture with First Data could send waves throughout the payments industry for what it signifies.

Allied Irish Banks and First Data's joint venture have agreed to a $112 million deal to purchase the consumer payment network and merchant acquirer.