Fiserv Earnings Lifted by Payments Offerings

Fiserv Inc. increased its payments revenue and signed new clients in the second quarter, pushing its overall revenue up 10%, to $1.2 billion, in the second quarter from a year earlier.

In the second quarter, Fiserv signed 64 clients to Popmoney, its person-to-person payments system used by Citi, PNC and other major banks. Nearly 2,000 financial institutions now offer Popmoney. It also signed 71 electronic bill payment clients and 38 debit processing clients.

"Performance was led by 7% adjusted internal revenue growth in our payments segment, solid sales and excellent free cash flow," Jeffery Yabuki, Fiserv's president and CEO, said in a press release July 30.

Fiserv's net income dipped 6%, to $151 million, in the second quarter from a year earlier. Its year-to-date net income declined in part because of integration expenses connected to its January purchase of Open Solutions.

Fiserv also added 98 clients for Mobiliti, its mobile banking system, which now has nearly 1,600 clients overall. Fiserv offers Popmoney as part of Mobiliti.