Fiserv

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.

JPMorgan Chase ends business loan partnership with OnDeck; Truist out to prove it can best the megabanks in tech; Capital One's data breach was bad, but it could've been worse; and more from this week's most-read stories.

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.

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

Fiserv is supporting mobile bill presentment in to meet a growing demand for receiving and paying bills through smartphones, which are now nearly ubiquitous in the U.S.

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.

Banks and merchants absorb billions of dollars in payment card fraud annually, but it's not for a lack of tools designed to stifle that fraud. It's becoming increasingly apparent that those tools simply aren't being used to their fullest capabilities.