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.

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.


Click to comment