Fiserv Strengthens Distribution Network in Brazil With Skytef Acquisition

Global payments and financial technology company Fiserv has acquired Skytef, the primary distributor of Software Express payment solution SiTef.

This strategic move aims to strengthen Fiserv’s distribution network in Brazil and offer a broader range of products and services to its clients and partners, the company said in a Wednesday (Oct. 11) press release.

Through this acquisition, Fiserv gains access to Skytef’s network of over 600 independent software vendor (ISV) partners and approximately 27,000 merchants, according to the release. This addition brings Fiserv’s total number of partners in Brazil to more than 1,000.

Jorge Valdivia, general manager for Brazil at Fiserv, said in the release that the move also expands Fiserv’s capacity to serve the complex after-sales demands of large clients.

“We want to add even more value to our clients and partners, expanding our current and future portfolio of solutions with a highly qualified team that values relationships,” Valdivia said.

One of the key benefits of this combination is the enhancement of operational efficiency for Fiserv partners, the release said. By incorporating Skytef’s expertise and solutions, Fiserv can offer a wider range of products and services, adding more value to businesses across various industries. This includes traditional terminal solutions, Android Point of Sale (APOS) and multi-merchant solutions that allow terminal applications to be shared by multiple merchants using the same device.

Partners and distributors within the Fiserv network now have an opportunity to increase their revenue by offering new products and services. These include Pix instant payments, the Carat omnichannel payment ecosystem, acquiring and issuing processing, and access to training and trained staff.

The founders of Skytef, José Boldin and Sidnei Alonso, said in the release: “Joining Fiserv confirms that we have been on the right track. We are combining our relationships and expertise to boost the distribution of products and services and support clients with ethics and commitment.”

Latin America has been the fastest-growing region for Fiserv, with the merchant space in Brazil and Argentina expanding especially quickly, the company said during a February earnings call.

In other recent moves by Fiserv, the company launched a data-sharing partnership with Plaid on Thursday (Oct. 12), expanded its partnership with Swift to improve the speed and visibility of cross-border payments, and formed a foreign exchange (FX) collaboration with LLloyds Bank.