B2B Payments

Fiserv Sees 44% Jump In Q1 Profit As Client List Grows

Financial services technology provider Fiserv Inc. on April 29 reported a 7 percent jump in first quarter total revenues, to $1.23 billion from $1.15 million a year earlier. Net income jumped 43.6 percent, to $168 million from $117 million.

 

Processing and services revenue rose 6.6 percent, to $1.03 billion from $966 million, while product revenue increased 11.3 percent, to $207 million from $186 million.

 

During the quarter, Fiserv signed 51 Mobiliti clients and, as of March 31, the company had more than 1,800 mobile-banking clients. It also signed 63 clients to the Popmoney person-to-person (P2P) payment network, which now includes nearly 2,200 financial institutions. Also signed on during the quarter were 82 electronic-bill payment clients and 30 debit-processing clients.

 

On April 28, Fiserv announced the signing of U.S. Bank to support P2P funds transfers, with an instant payment option.

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