Analyst: Fiserv stock drop ‘seems overdone'
The drop was a result of comments made by Fiserv Chief Financial Officer Robert Hau about the volume growth of the company's Clover system would remain flat in the second quarter.
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7 hours ago
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Fiserv CEO embraces stablecoins
This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Payment processing giant Fiserv is developing an infrastructure for its merchant customers to pay for goods and services with cryptocurrencies, the company's CEO, Mike Lyons, said in a presentation last week. The Milwaukee-based company has heard from its merchants clients that they're interested in using cryptocurrency such as stablecoins, a common type of digital asset, Lyons said in a June 3 question and answer session at the Baird Global Consumer, Technology and Services Conference in New York City. 'We're hearing from merchants, 'Hey, maybe this has got a lot less interchange,'' Lyons said in response to a questions about merchants and banks using stablecoins. 'We're going to help them develop the capabilities.' The company should also be prepared if a federal bill regulating stablecoins is signed into law, he added. What if Congress passes a cryptocurrency law 'and we suddenly have to stand up a (cryptocurrency) wallet and we're told to do it in X number of months?' Lyons said. 'That seems like a significant investment.' The Senate may vote as early as this week on the GENIUS Act, a bill creating a regulatory framework for stablecoins. The House of Representatives has yet to vote on the bill. Stablecoins are a type of cryptocurrency pegged to the value of a traditional asset, such as a fiat currency like the U.S. dollar or the euro. Theoretically, the value of a stablecoin is less volatile than that of other types of cryptocurrencies such as Bitcoin, that tend to be volatile. Payment companies have held up stablecoins as a way to simplify and cheapen cross-border payments, among other possible uses, but so far the digital assets have not achieved widespread adoption. Fiserv is working on creating the infrastructure for its customers to use stablecoins, Lyons said. He did not provide a timeline, but said 'in the next week or two, we'll come out with something that talks about standing up some infrastructure.' Lyons provided few details about the plans, and a Fiserv spokesperson declined to provide more specifics. The process will likely involve helping clients create stablecoin wallets they can use to spend money using the digital assets, he said. Merchants are interested in stablecoins as a way to save on costs, like avoiding fees charged when credit cards are used, Lyons said. 'It's a great opportunity that plays right into our strengths,' he said Recommended Reading Fiserv rises on international, government sales Sign in to access your portfolio
Yahoo
3 days ago
- Yahoo
Fiserv enters deal to fully acquire AIB Merchant Services
Fintech company Fiserv has agreed to acquire the 49.9% interest in AIB Merchant Services (AIBMS) that it does not already hold. AIBMS is a joint venture between Fiserv and AIB Group and was formed in 2007. It operates as a payment solutions provider in Ireland and a e-commerce acquirer in Europe, facilitating businesses in accepting card payments. Following the acquisition, AIB Group will maintain a business relationship with AIBMS and Fiserv by continuing to refer clients in need of merchant acquiring services. AIBMS will operate under its existing brand 'under a short-term brand agreement', allowing for a phased withdrawal of the AIB brand from the business. Completion of the deal is due in the third quarter of the current year, contingent on regulatory approval and other closing conditions. Fiserv EMEA region head Katia Karpova said: 'We have enjoyed a strong partnership with AIB Group, as together we grew AIBMS into one of the leading acquirers in Europe, and I look forward to continuing to work closely with them to support our mutual clients. 'Our focus will remain on delivering market-leading solutions to clients of all sizes across Ireland and the broader European market. We are particularly excited for the opportunity to accelerate the local penetration and growth of Clover, the world's smartest point-of-sale system and business management platform.' AIB CEO Colin Hunt stated: 'Following a successful Joint Venture partnership, we believe Fiserv has the commitment, experience and innovative technical solutions to grow AIBMS and that our customers will continue to be well-served under their sole ownership. Recognising the strength of the AIB customer franchise, we are pleased to support our business customers by maintaining a close on-going relationship with Fiserv. This development follows Fiserv's agreement in April to acquire Brazilian fintech company Money Money Servicos Financeiros. "Fiserv enters deal to fully acquire AIB Merchant Services " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Yahoo
Jefferies Reiterates ‘Hold' Rating on Fiserv (FI), Keeps PT
On June 5, analysts at Jefferies reiterated a 'Hold' rating on Fiserv, Inc. (NYSE:FI) and a $165 price target. The research firm asserts its Hold rating following discussions with independent sales organizations (ISO). In the talks, the research firm was trying to gain insights into the sales trajectory following the company's 6.56% revenue growth over the last 12 months. A bank teller assisted by an automated teller machine, emphasizing the combination of traditional banking and modern digital technology. The discussions also shed light on Clover's gross Payment Volume after recent price cuts. Some independent sales organizations hinted at significant pricing-driven churn attributed to Clover's pricing strategies. Consequently, some ISOs have started reducing their front book placement. Jefferies also reiterated the Hold rating following a slight decline in Fiserv's small and medium-sized business index. Amid the concerns, analysts remain optimistic about the company's capitalization of digital payment transformation. In addition, the analysts remain confident about the company's international expansions, strategic acquisitions, and innovations as key to future growth. Fiserv is a financial services technology company that provides solutions for payments, digital banking, and other related services. It offers banks, credit unions, and merchants a wide range of products and services. While we acknowledge the potential of FI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and. Disclosure: None. Sign in to access your portfolio
