A Major Credit Card Payment Processing Provider
Fiserv, formerly known as First Data Merchant Services, is a large credit card processing company headquartered at 255 Fiserv Drive Brookfield, WI 53045. The company’s main bread and butter is providing back-end card processing services for Independent Sales Organizations (ISOs), banks, and other merchant service providers across the world. It has also has entered the tablet-based point-of-sale software market with its Clover POS system. In May 2017, the company purchased CardConnect for $750 million, and in October, it announced its acquisition of BluePay. In January 2019, First Data was acquired by Fiserv, major global provider of financial services technology, in an all-stock transaction valued at $22 billion. Frank Bisignano was CEO of First Data and remains as CEO for Fiserv. In 2021, Fiserv purchased Radius8 for $14 million and Ondot Systems for $270 million as well as BentoBox for an undisclosed amount.
Merchant Services & Merchant Accounts
Under their Fiserv Merchant Services division, Fiserv processes credit cards and debit cards from all major card brands. Fiserv’s credit card processing services are most often received through a resellers who market themselves as independent companies under their own branding. As a direct processor, the company offers an extensive array of services. These include the popular Clover POS system family, credit card readers, e-commerce payments, ISV payment integration, multi-currency payment processing, B2B payments, analytics, and new payment technologies such as touchless payments. It should be noted, that businesses processing credit card transactions through a Fiserv reseller may have a different array of payment options to choose from.
The Company Behind Many Resellers
Unlike most merchant services organizations, Fiserv is a direct processor with Visa and MasterCard. While the company does have a small direct sales force, Fiserv relies primarily upon partnerships with third-party resellers and sub-ISOs to sell its credit card processing services. The company also operates a poorly rated POS leasing division through First Data Global Leasing. Fiserv also providers the underlying credit card processing services for Wells Fargo Merchant Services and Bank of America Merchant Services. These two partnerships along with thousands of others make Fiserv one of the largest processors in the world, if not the largest. In fact, it has been stated that roughly 45% of all credit card sales in the U.S. are processed by Fiserv.
First Data Merchant Services Location & Leadership
While the Fiserv headquarters is at the Wisconsin address listed above, it appears the old First Data buildings are still in operation. As such, the former First Data headquarters at 2900 Westside Pkwy, Alpharetta, GA 30004 is likely still in use by the company’s processing division. The BBB lists Nancy Whitt as the principal at First Data, while LinkedIn lists Michael Ross as the Senior Account Executive for Fiserv/First Data.
Fiserv Review Table of Contents
- Costs & Contract: Fiserv typically offers a multi-year contract with a variable early termination fee ranging from…
- Complaints & Service: Prior to becoming Fiserv, First Data had received more than 1,000 public complaints regarding…
- BBB Rating: First Data has a rating of “A-” with the Better Business Bureau and had received 665 complaints of…
- Sales & Marketing: Fiserv hires independent sales agents and has received a high number of complaints about its…