Fiserv Acquires CardFree to Add Order, Payment and Loyalty Solutions

Payments and FinTech company Fiserv has acquired CardFree and will integrate that company’s order, payment and loyalty solutions for enterprise merchants.

The addition of CardFree’s solutions to Fiserv’s Clover point-of-sale solution for small businesses and its Commerce Hub ecosystem will enhance Clover’s ability to support small businesses as they grow and add locations, the companies said in a Thursday (Sept. 4) press release.

The capabilities that will be added by this integration include drive-thru software, kiosk and sub-inventory management, and third-party software integration support in loyalty, delivery services and property management, according to the release.

Fiserv Chief Operating Officer Takis Georgakopoulos said in the release that the acquisition positions Fiserve to expand Clover’s capabilities for the hospitality, restaurant and lodging industries.

“Integrating CardFree’s technology into Clover enhances our platform’s scalability and flexibility, empowering hospitality businesses to drive growth through elevated customer experiences,” Georgakopoulos said.

CardFree founder and CEO Jon Squire said in the release that the move will expand CardFree’s ability to bring its solutions to market.

“Having collaborated closely with the Fiserv team, I’m confident we’re uniquely positioned to address the growing needs of hospitality operators with a best-in-class suite of tools that streamline operations and elevate guest experience,” Squire said.

Fiserv reported in July that Clover, which is the company’s flagship point-of-sale offering, is on track to hit $3.5 billion in annual sales this year. The company guided to overall 2025 organic revenue growth rates of 10%.

CEO Mike Lyons said during Fiserv’s July 23 earnings call that the growth “trajectory was based on the successful launch of a long and granular list of new products and strategic initiatives as well as a relatively strong macroeconomic outlook.”

In other recent moves, Clover teamed up with healthcare payment solutions provider Rectangle Health to develop a payment platform for small to medium-sized healthcare providers, launched an integration with small business management platform Homebase to give merchants a single platform to manage daily operations, and introduced a customized point-of-sale system for high-end restaurants.

When introducing the product for high-end restaurants, Krystle Mobayeni, senior vice president, head of restaurants at Fiserv, said in a news release: “We believe that the right technology can propel restaurants forward, allowing them to take day-to-day challenges in stride.”