• FinTech leader set to acquire a software vendor Bypass Mobile to aid next-gen commerce capabilities and provide seamless customer experience.
• The financial terms of the deal have not yet been disclosed.

One of the prominent payments and FinTech leaders, Fiserv has announced purchasing a privately owned software vendor Bypass Mobile. Apparently, the acquisition would help support the next generation of commerce capabilities from Fiserv, allowing various enterprises and businesses to deliver seamless customer experience covering several digital and physical channels.

According to the official sources, the companies have agreed on developing a strategic relationship for the acquisition which would allow Bypass Mobile top offer back-office management support along with insight engines, which has already been provided for entertainment and sports arenas, restaurant chains, and food service providers. It has been reported that nearly 50 stadiums, including Clover Park in Port St. Lucie, Fiserv Forum in Milwaukee, and Citi Field, are currently using the combined technology.

Moreover, the acquisition would bring about a revolution in purchasing abilities through connected devices enabling businesses to now work with a single provider and supported by an augmented operational efficiency, optimized security, and effective customer interactions.

Commenting on the acquisition, the senior group president of Global Business Solutions at Fiserv, Devin McGranahan stated that the addition of Bypass to its portfolio would make it easier for the clients to realize their digital transformation strategy and help establish interactions that they have been asking for already. He further added that this deal would make it easier for the businesses and customers to pay for services and goods efficiently.

Meanwhile, Brandon Lloyd, the CEO of Bypass quoted that the team up with Fiserv would support businesses accept payments effectively while continuing to address customer demands by providing a gamut of payment options. Moreover, the company has long admired Fiserv for its commitment and efficient deliverance to the customers.

Source credits: https://www.pymnts.com/news/partnerships-acquisitions/2020/fiserv-acquires-bypass-mobile/