Fiserv, a Wisconsin based leading global fintech service provider recently revealed the acquisition of payment procession service provider Merchant Pro Express. As per statement released by the firm, the fintech service provider has managed to purchase New York based payment solutions provider Merchant Pro Express to boost its merchant services business. This move is said to a part of Fiserv’s strategy to further expand its business and client base across US market. Merchant Pro Express has been a distribution partner for Fiserv since 2009 and is well known as a provider of electronic payment processing and integrated payment services powered by first data. Merchant Pro Express’s POS equipment and merchant cash advance services are used by a wide range of firms across the USA.
While the acquisition deal will help Fiserv boost its merchant services business and partner-based distribution it will also complement several other Fiserv products such as CoPilot, CardPointe and Clover payment technology as it can now use Merchant Pro Express products by integrating them with Fiserv’s solutions into a single integrated platform. The exact amount involved in purchasing the payment solutions provider has not been disclosed by either firms as of yet. The main advantage that Fiserv gets from this deal aside from expanding its merchant service business is that Merchant Pro’s platform analytics service will help its clients lower expenses associated with processing costs while also offering a cross section of transparent and personalized service.
It should be noted that Fiserv made a similar move last month when it announced its partnership with Germany based enterprise software solutions provider SAP SE to offer B2B firms with streamlined platform to bring digital payments to their customers. Fiserv will facilitate this service by integrating two cloud-based solutions from each firm – Fiserv’s enterprise payments app SnapPay and SAP’s digital payments add on into a single platform.
Commenting on this deal, Devin McGranahan – Senior Group President of Global Business Solutions at Fiserv said, “Merchant Pro Express has been a key Fiserv distribution partner since 2009. By combining our solutions and expertise under one roof, we will be able to expand and speed the delivery of new and innovative solutions”.
Speaking about this deal Chris Briller – CEO of Merchant Pro Express said, “By completing this transaction, we have confirmed our commitment to provide a high-quality and sustainable platform to our agents, employees and customers. The highly regarded Fiserv brand and focus on growth will enable us to distribute premier products and services to our clients”.
On the same note, Sean O’Neil – COO at Merchant Pro Express added, “We could not be more thrilled to join the Fiserv family. Their cutting-edge suite of payments technology products and services will help transform the way our sales agents and their merchant clients are able to serve customers”.
