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Fiserv Review, Our Expert Take
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In this article we will provide an in-depth analysis of Fiserv, formerly known as First Data, detailing everything a business needs to know before utilizing the company’s merchant services. We’ll begin by detailing the company’s history, including its significant acquisitions and mergers. Then, we will delve into the various services offered by Fiserv, such as credit and debit card processing, hardware sales and leasing, payment gateways, and e-commerce solutions. We’ll explain Fiserv’s role as a direct processor and its partnerships with various resellers and sub-ISOs.
We will then address the challenges and controversies that have surrounded Fiserv, including common customer complaints, legal issues, and government fines. This will involve a critical look at the company’s customer support options, alongside providing essential contact information for different service needs.
Further, this article will explore Fiserv’s online ratings and customer feedback. We aim to shed light on the common issues faced by its clients, offering a balanced view of the company’s performance from the perspective of its users.
Additionally, we’ll examine Fiserv’s fee structure and contract terms, paying special attention to the implications of dealing with its network of resellers. The article will also scrutinize Fiserv’s sales tactics and the impact of its extensive network of independent resellers on its overall reputation.
- Complaints & Service: Has received more than 1,000 public complaints regarding…
- Costs & Contract: Typically offers a multi-year contract with a variable early termination fee ranging from…
- Online Ratings: Has garnered over 500 reports with distinguished organizations, such as…
- Sales Tactics & Employee Reviews: Hires independent sales agents and has received a high number of complaints about its…
Fiserv, also previously known as First Data, stands as a global giant among credit card processing services. The company primarily generates revenue by offering back-end card processing services to Independent Sales Organizations (ISOs), banks, and various merchant service providers worldwide. Fiserv has also made strides in the point-of-sale technology sector with its Clover POS system (see our Clover POS Review). A significant expansion occurred in May 2017 when Fiserv acquired CardConnect for $750 million, followed by the purchase of BluePay in October of the same year. In a landmark development, First Data merged with Fiserv in January 2019 through an all-stock deal valued at $22 billion, with Frank Bisignano, the former CEO of First Data, continuing as the CEO of the merged entity.
Continuing its growth trajectory, Fiserv acquired Radius8 for $14 million and Ondot Systems for $270 million in 2021, along with the purchase of BentoBox for an undisclosed sum. The company’s acquisition spree didn’t stop there; it also included Finxact, Merchant One, The City POS, and Yacare. Additionally, Fiserv has formed a strategic partnership with Central Payments, further expanding its influence and capabilities in the financial services technology sector.
Fiserv offers a comprehensive range of products and services primarily focused on financial transactions, merchant services, and payment processing, catering primarily to U.S. businesses and financial institutions. Here’s a summary of their key offerings:
- Credit and Debit Card Processing: Fiserv provides extensive card processing services, including authorization, settlement, and funding for credit and debit card transactions.
- Point-of-Sale (POS) Solutions: Fiserv offers a versatile point-of-sale solution with its Clover POS system, which includes hardware and software for processing sales transactions, managing inventory, and customer engagement.
- Mobile and Online Payment Solutions: They offer solutions for online and mobile payments, enabling businesses to accept payments through websites, mobile apps, and other digital platforms.
- Merchant Cash Advances: Fiserv provides financial loan products like merchant cash advances, offering businesses access to working capital based on their future sales.
- E-commerce Solutions: They offer a range of e-commerce solutions, including payment gateways and shopping cart integration, to facilitate online transactions.
- Fraud and Risk Management: Fiserv provides tools and services for fraud detection and risk management to protect businesses and their customers from fraudulent activities.
- Data Analytics and Reporting: They offer data analytics and reporting tools to help businesses track transactions, understand customer behavior, and make informed decisions.
- Financial Services Technology: Beyond merchant services, Fiserv is known for its financial services technology solutions, offering a wide range of products for banks and financial institutions, including account processing services, electronic bill payment, and digital banking solutions.
- Acquisitions and Partnerships: Fiserv’s growth strategy includes acquiring companies like CardConnect, BluePay, and Ondot Systems, and forming partnerships to expand its service offerings and technological capabilities
Reseller Network & Banking Partnerships
Fiserv distinguishes itself in the merchant services industry as a direct processor with major credit card networks like Visa and MasterCard. This direct processing capability sets the company apart from many other merchant services organizations that rely on intermediary banks or processors like Fiserv to handle transactions. Being a direct processor allows Fiserv to have more control over the processing and, potentially, offer more competitive rates to high volume businesses.
While Fiserv does maintain a modest direct sales force, the company predominantly leverages partnerships with third-party resellers through a white label program that allows companies to market and sell merchant services under their own branding. This extensive network of partners has enabled Fiserv to reach a broad range of clients across various industries and geographical locations.
Furthermore, Fiserv has played significant role in the credit card processing operations of some of the largest banks in the United States, providing the underlying credit card processing services for Wells Fargo Merchant Services and, formerly, Bank of America Merchant Services which ended its joint venture in 2020 to provide its own merchant services. These partnerships, along with thousands of others, contribute to Fiserv’s status as one of the largest, if not the largest, processor in the world.
Equipment Leasing Controversy
In addition to its core credit card processing services, Fiserv operates a POS (Point of Sale) leasing division through First Data Global Leasing. However, this division has received significant amount of negative reviews, with much of criticism directed at the terms and conditions of the leasing agreements and the quality of the leased equipment. In fact, a competitor offering nearly identical leasing services was was shut down by the New York Attorney General (see our review of Northern Leasing Systems).
Location & Leadership
|Address:||255 Fiserv Drive|
Brookfield, WI 53045
Fiserv Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||1,000+|
|Most Common Complaint||Hidden Fees|
|Most Common Praise||Technology|
As part of our research process, we dug deep into Fiserv’s customer reviews and commentary. Through this process we uncovered trends and patterns in client satisfaction that can help you know what to expect with this credit card processor. In examining customer feedback about Fiserv across various online forums and comment sections, it’s evident that alongside the challenges, there are also several positive trends in user experiences.
What Clients Say They Like about Fiserv
- Modern and Reliable Technology: A common thread of positive feedback was centered around the reliability of Fiserv’s “Clover” payment hardware product line. Many customers appreciate its advanced features and capabilities, which include efficient payment processing, robust security measures, and user-friendly interfaces.
- Support for Businesses of Varying Sizes: Fiserv is often commended for its support of small and medium-sized businesses, as well as its enterprise level payment systems. Users have expressed satisfaction with how Fiserv’s solutions are tailored to meet the unique needs of their businesses, providing them with tools that were previously accessible only to larger corporations.
- Customization and Flexibility: Another positive aspect frequently mentioned is the customization and flexibility of Fiserv’s services. Businesses from various sectors have stated that they benefited from the ability to tailor Fiserv’s solutions to their specific needs. This flexibility was particularly appreciated in situations where reviewers reported unique requirements or when their business was undergoing changes to its operations.
- Global Reach and Comprehensive Services: Fiserv’s global presence and comprehensive range of services have also been positively noted. Customers from different parts of the world have highlighted the convenience of accessing a wide array of financial services under one umbrella.
- Positive Customer Service Experiences: While there are mixed reviews about customer service, there are also numerous accounts of positive interactions. These include experiences with knowledgeable and helpful customer support teams, quick and effective resolution of issues, and a proactive approach to customer care.
What Clients Did Not Like
Fiserv also suffers from a considerable number of customer complaints covering varying aspects the company’s fees, policies, and services. We located a high number of negative Fiserv reviews, with more than 600 in our comment section below, and over 400 more on other consumer protection websites.
- Concerns Over Sales Practices and Transparency: A notable trend in customer feedback involves concerns about sales practices. Many users report experiences with deceptive sales tactics, particularly from resellers and sales agents. This includes instances where the terms and conditions of contracts were not fully disclosed at the outset, leading to surprises and misunderstandings later on. Customers have expressed frustration over being placed into merchant account contracts directly with Fiserv through resellers without clear communication about the important terms and conditions.
- Customer Service Experiences: Another significant area of feedback is customer service. There are numerous accounts of challenges in dealing with Fiserv’s customer support, including long wait times, difficulty in getting issues resolved, and a perceived lack of attentiveness to customer concerns. This has been a point of contention for many, especially when dealing with complex issues like billing disputes and service-length commitments.
- Billing and Contract Disputes: Billing issues are a recurrent theme in the feedback. Customers frequently mention disputes over billing, hidden fees, higher than expected rates, and difficulties in resolving these disputes satisfactorily. The complexity and length of contracts, coupled with a lack of clarity in some cases, have also been points of concern, leading to dissatisfaction among some users.
- Hardware Costs and Commitments: Common customer grievances regarding Fiserv’s credit card processing hardware often center around a few key issues. Firstly, we found frequent mentions of dissatisfaction with the costs associated with credit card processing hardware. Customers often express surprise at hidden fees or higher-than-expected charges. Secondly, the lease terms for Fiserv’s hardware are another point of contention. Users report that these terms can be lengthy and inflexible, making it challenging for businesses to upgrade or change their hardware without incurring additional costs. Lastly, some customers have experienced difficulties with the hardware itself, citing issues with functionality or reliability, which can disrupt daily business operations.
Problems With Resellers and ISOs
As previously mentioned, Fiserv partners with numerous resellers and ISOs (Independent Sales Organizations) to varying degrees. In some cases, resellers market Fiserv under the Fiserv brand and in others, resellers market Fiserv’s underlying processing under their own branding. This business practice as lead to some confusion for business owners, as well as a pattern in complaints related to resellers.
- Misleading Sales Tactics: Customers frequently report encountering misleading or aggressive sales tactics from some of Fiserv’s resellers and ISOs. This includes making promises about rates and fees that are not upheld, and providing incomplete or inaccurate information about the services offered.
- Lack of Transparency in Contract Terms: Many complaints revolve around a lack of transparency in contract terms. Customers often find themselves locked into long-term contracts with high cancellation fees, which were not clearly communicated at the outset. Some customer reviews reported that the unexpected costs placed financial burdens on their businesses.
- Hidden Fees and Unexpected Charges: Another common issue is the presence of hidden fees, higher than promised rates, or unexpected charges that were not disclosed during the sales process. Customers have reported being surprised by various additional costs that significantly increased the overall expense of using Fiserv’s services.
- Inconsistent Customer Support: The level of customer support provided by resellers and ISOs can be inconsistent, with support in some cases being supplied directly by Fiserv and at other times by the resellers themselves. Some customers have also reported difficulties in getting timely and effective assistance for their issues. This inconsistency has lead to frustration and a lack of trust in Fiserv, according to many client reviews.
- Quality and Reliability of Equipment: Concerns have also been raised about the quality and reliability of the credit card processing equipment provided by some resellers. Issues range from equipment malfunctioning to outdated technology, which some have reported as impeding their business operations.
- Pressure to Lease Equipment: Customers have expressed concerns about being pressured to lease credit card processing equipment, often at rates that are not competitive. These leasing agreements can also come with long-term commitments and strict terms, which are almost never in the best interest of the business.
Fiserv Lawsuits & Government Actions
Fiserv has been the defendant in several lawsuits and has caught the attention of regulators on a few occasions.
- Fiserv’s Acquisition of First Data:
- Valued at $22 billion.
- Faced a class-action lawsuit by Alan Skulsky, a minority stockholder in First Data, in the Delaware Chancery Court.
- Legal Issues of First Data (Part of Fiserv):
- In 2017, faced a class-action lawsuit in New York.
- Allegations of imposing excessive termination fees on equipment leases.
- The lawsuit demanded a jury trial, highlighting concerns over unfair financial practices.
- Lawsuit Against First Data by Peel Payments (2016):
- Peel Payments, a First Data reseller, filed the lawsuit.
- Alleged significant increase in authorization fees for some merchants, from $0.05 to over $0.60 per transaction.
- Noted that typical authorization fees do not exceed $0.30, even in high-risk environments.
- Lawsuit Against Fiserv by Bessemer System Federal Credit Union (April 2019):
- Alleged failure to address vulnerabilities in the platform for banking websites and online applications.
- Raised concerns about the security and reliability of Fiserv’s digital infrastructure.
- Lawsuit Against Fiserv’s Bank of America Merchant Services Arm (July 2021):
- Claims of charging excessive fees not included in merchant contracts.
- Highlighted ongoing concerns about billing transparency and fairness.
- Lawsuit by Municipal Credit Union Against Fiserv (2022):
- Alleged negligent and fraudulent practices leading to a data breach.
- Breach exposed sensitive information of thousands of MCU members.
- MCU sought compensation for protection costs and damages for member harm.
- Repeated Fines for Labor Violations:
- Fiserv/First Data has been fined multiple times for labor violations.
- These include wage and hour violations, totaling $51,565, and economic sanction violations amounting to $23,336.
- Settlement for Fraud Charges:
- First Data, a part of Fiserv, agreed to a settlement with the Federal Trade Commission (FTC) for its involvement in four scams.
- Settled FTC charges related to aiding illegal actions by an independent sales organization.
- The settlement amount was $40.2 million.
- These charges were from alleged illegal actions committed from 2012 to 2014.
- Source: Reuters
Customer Support Options
When it comes to customer service, Fiserv serves its merchant account customers directly via a 24/7 customer service call center. Resellers can also assist companies with their own customer service. As a third option, Fiserv offers customer support for resellers at an additional cost to the reseller. In a few Fiserv reviews, merchants have reported confusion about which company is responsible for servicing their account.
Customer Service Numbers
- (800) 872-7882 – Sales
- (800) 877-8021 – CheckFree Online Bill Pay
- (800) 848-1337 – CheckFree Online Bill Pay Collections
- (800) 554-8969 – Debit Card Services
- (800) 564-9184 – MyCheckFree
- (800) 967-9649 – BillMatrix
- (877) 675-6378 – Popmoney
- (800) 676-6148 – Walk-In Payments/CheckFreePay
See the top-rated merchant accounts for great customer service. before risking your payment acceptance with any merchant account provider.
Fiserv Online Ratings
Here's How They Rate Online
|Trust Pilot Rating||1.9/5|
|Software Advice Rating||4.3/5|
Fiserv BBB Rating Analysis
Fiserv, Inc. has an average customer review rating of 1 out of 5 stars on the Better Business Bureau (BBB) website, based on 89 customer reviews. Common themes among these reviews include complaints about poor customer service, issues with account handling, and dissatisfaction with the company’s response to customer concerns.
“I am with business for so long. Lately they tried to rob me by telling my processing machine is obsolete and needed to be changed. I thought it was true and they quickly sent me a new machine which I never use then they withdraw more than $1000 from my account without letting me know. I have to fight before they even refund $800 and they refused to refund the remaining. This is last two months fight and today with surprise they withdraw $361 and when I called them they said restocking fee. I told them if they don’t refund me they will hear from me. Be aware of scam.”
– Review from November 3, 2023
“This company (Clover) is a scam, they said that 3 of the deposit my company received were higher than our daily average so they put the funds on hold on 10/20 when I called back on 10/23 they told me that they decided to close the account and they would be releasing my funds and I would receive them within 24/48 hours. I still did not receive my funds on 10/26 so I called them back and they said that there was an issue but the funds were released I should be receiving them back on tomorrow 10/27. Tomorrow came and I still did not receive the funds and they said that there was a delay on their end and I would be receiving the funds by 10/30 or 10/31 at the latest and I don’t need to worry. Today 10/31 I called and they said that they were not sure who I spoke to and that there has been no attempt on their end to send the money to bank account and they were not sure because that is handled by a different department and the best she could do is send them an email but could not provide me with their contact info. Now I’m sitting here with my thumb up my A$$ and have no clue what to do or who to talk to and they are holding my $8835 with no timeframe of when I will get it back. I’m a SMB owner and not having this money is really going to put me a hole. Please please stay away from this company.”
– Review from October 31, 2023
“There are no positive reviews published about Fiserv, Inc. on Better Business Bureau.”
Source: Better Business Bureau
Trustpilot Rating Analysis
Fiserv, Inc. has an average customer review rating of 1.9 out of 5 stars on Trustpilot based on 13 customer reviews. The common themes in the reviews include poor customer service, issues with their merchant services, and difficulties in resolving problems.
Don’t do business with Fiserv or any business they own. Their merchant services are the worst and their customer service is worthless. No one can ever actually resolve anything. Reports for merchants are terrible. No customer order number for the transactions. They used to have order numbers and they took them away and refuse to put them back on the reporting. After spending thousands of dollars to have custom code written to reconcile the merchant account, bank account and sales from my website they changed the reporting and all the money I spent is down the drain. Now I have to reconcile by hand one transaction at a time. It’s crazy! Today I tried to issue a refund and it won’t go through their Clover system. I called customer service and they cannot get it to go through either. Now they tell me I have to wait 3 days for them to figure out the problem. I am supposed to call my customer and tell them to wait 3 days. How does that make my business look to my customer??? I have been on the telephone with them for over 2 hours and am on hold to speak with a supervisor. This company is the worst company I have ever dealt with. Very unprofessional! Save yourself a ton of stress and stay away from anything Fiserv, First Data, Clover….
– Review from November 13, 2023
You are NOT important to us!! I quit Fiserve on 8/1/2023 – I received an email from customer service confirming my request to close my account on 8/4/23. NO WHERE in any of the 3 emails I received did it say “trickle fees” would show up, for up to 60 days, after closing. I’ve been charged a Visa month end fee for 2 months now. I gave them August as we did process for the first 3 days. Now I want my money back! All the customer service rep (Appropriately named Boycott) said “It’s a valid charge” (You say!!!) He requested my fee to be refunded, but I needed to wait, up to 72 hours, for a response.
After being on hold for almost 30 minutes – Nothing says “you’re not important to us” like being on hold – or being transferred multiple times from CSR to CSR.
My bank now does inhouse credit card processing. If they go back to using Fiserve as 3rd party – I will find a new bank!
– Review from October 3, 2023
“There are no positive reviews published about Fiserv on Trustpilot.”
Software Advice Rating Analysis
Fiserv has an average customer review rating of 4.1 stars on Software Advice based on 23 customer reviews. Common themes in the reviews include appreciation for its ease of use and integration with other software like QuickBooks and Shopify. However, some users mention issues such as system lag, difficulties with customer service, and limitations in software functionality.
LISA from the banking sector, who has been using Fiserv for more than 2 years, reviewed the service in July 2021. She finds the Maxxar software for phone banking very basic and antiquated, lacking advanced features and voice options. She also mentions frequent service disruptions and a general lack of support for this product.
– Review from July 2021
Ryan, from the computer software industry, using Fiserv monthly for less than 2 years, reviewed it in August 2023. He appreciates the robustness of the payment processor but criticizes the slow customer service response time, mentioning that they have had tickets open for months without answers.
– Review from August 2023
Eve, from the hospital & health care sector, using Fiserv daily for less than 12 months, gave a review in November 2018. She finds it quick and easy to take payments, appreciates the integration with QuickBooks and Invoice ASAP, and likes the feature of resending receipts easily.
– Review from November 2018
Dustin, from the medical practice industry, using Fiserv daily for less than 12 months, reviewed it in August 2018. He praises the ease of use, the simplicity of processing payments, and the fast processing of transactions.
– Review from August 2018
Source: Software Advice
Fiserv Fees, Rates & Costs
A Closer Look at The Contract
|Service Length Commitments||Possible|
|Early Termination Fees||Possible|
|Monthly & Annual Fees||Yes, Negotiable|
|Hardware Options||Purchase or Lease|
In this section we’ll discuss several important topics related to the costs and contract terms a business owner could experience when selecting Fiserv, or one of its resellers, for credit card processing services. We uncovered several factors that can greatly influence the service length commitment required and the associated costs.
Fiserv Rates and Fees Explained
Fiserv offers merchant account services directly with a pricing structure that can significantly vary based on a business owner’s negotiation skills and understanding of merchant account fees. Unlike some competitors, Fiserv does not publicly advertise a standardized fee structure for its credit card processing services. Instead, the company grants considerable discretion to its sales representatives to set fees and rates stuctures. This approach leads to a wide variation in pricing, often depending on the business owner’s level of knowledge the pricing models available in the broader market.
Business owners with a deeper understanding of merchant account fees and industry benchmarks are in a better position to negotiate more favorable rates. Knowledgeable merchants can challenge high fees or unfavorable terms, pushing for reductions or alterations that align more closely with industry standards or their specific transaction patterns. Conversely, less informed business owners often accept the first offer made by a sales representative, potentially leading to higher costs.
Costs Related to Sales Commissions
Fiserv’s sales representatives, motivated by commission structures, often have a financial incentive to sell merchant accounts with higher rates and fees. The commission system within Fiserv is designed to reward sales representatives for securing contracts with higher costs, creating a potential conflict of interest. This incentive can lead representatives to prioritize their own earnings over the best financial interests of the merchant, especially if the business owner is not well-versed in merchant account fee structures.
Tiered Pricing vs. Interchange-plus
Moreover, Fiserv’s sales representatives are more likely to offer tiered pricing models to merchants. Tiered pricing is often criticized for its lack of transparency compared to the Interchange-plus model. In a tiered pricing structure, transactions are grouped into different tiers, each with its own rate. This model can be more expensive for merchants, as it often includes higher markups and less predictability in fees. In contrast, Interchange-plus pricing is more transparent, as it separates the interchange fees set by credit card networks from the processor’s markup, making it easier for merchants to understand exactly what they are paying for each transaction.
Fiserv primarily markets it “Clover” branded product line of POS systems and payment processing hardware (See our Clover Review), but continues to offer various other traditional equipment options. The company does not openly disclose its pricing for hardware, which suggests that sales representative retain flexibility to negotiate prices, raise costs for higher commissions, or reduce costs to compete with other offers. It is unclear if Fiserv is still offering hardware leasing through the notorious division of First Data Global leasing, which marketed expensive lease agreements and trapped clients is leases that couldn’t be cancelled without incurring a costly penalty.
As with Fiserv’s costs, the service agreement and its associated terms appear to also vary based upon a business owner’s knowledge and the sales person. The company was notorious for only marketing binding long-term agreements with stiff early termination fees, but appears to have softened its policies in this area. Although, it may be possible to achieve a month-to-month service agreement, numerous customer reviews state surprise over cancellation fees and automatically renewing contracts. Such agreements are likely influenced by discounts on equipment or other offers by Fiserv, but the general sentiment among clients is that concessions provided by Fiserv have not been equitable to the commitment required for services.
Pricing Through Fiserv Resellers
Fiserv’s costs, when it comes to resellers, is notable for its significant variability. This is largely because resellers have the discretion to set their own pricing terms, which can lead to a wide range of costs for the end user. While some resellers adopt an honest and transparent approach to pricing, clearly outlining their fees and margins, others may not be as forthcoming. This lack of uniformity can be attributed to the fact that resellers are permitted to add their own margins and monthly fees on top of Fiserv’s base rates. As a result, the pricing offered by one reseller can differ greatly from another. This variability underscores the importance for potential clients to conduct thorough research and comparisons when choosing a Fiserv reseller, as the financial implications of these differences can be substantial. The ability for resellers to independently set prices means that the same Fiserv services could come with vastly different price tags, depending on who is selling them.
Resellers have the option to set a business up directly with Fiserv, wherein the terms of service, including the length of the agreement, cancellation policies, and costs associated with hardware, are directly tied to Fiserv’s policies. These direct agreements are often marketed by very small resellers that are acting more as sales agents than full scale merchant services organizations.
Larger resellers have the autonomy to tailor their service agreements, which can include modifying the length of the contract, offering different cancellation terms, and varying the costs associated with leasing or purchasing hardware. This flexibility allows resellers to create customized solutions that might be more closely aligned with the specific needs of a business. For instance, a reseller might offer shorter contract terms or more competitive hardware pricing to attract certain types of businesses. However, this flexibility can also lead to less favorable terms for the merchant. Some resellers might impose longer contract lengths, higher cancellation fees, or more expensive hardware costs as a way to increase their margins. Additionally, the level of customer service and support can differ when dealing with a reseller, as opposed to dealing directly with Fiserv.
We strongly encourage any business considering Fiserv or a Fiserv reseller to fully read and understand all aspects of the pricing and contract terms being marketed to them. Less complicated credit card processing options can also be found among this list.
Fiserv Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Independent Sales Positions:||Yes|
|Sales Tactics Complaints:||Yes|
|Glassdoor Rating:||3.4 Stars|
|Indeed Rating:||3 Stars|
We analyzed numerous employees reviews from various sources to gain insight into the company’s work culture, management practices, and overall employee satisfaction – variables that can also affect a business owner’s experience with the company.
Work Environment and Culture
Employees often describe the work environment at Fiserv as fast-paced and dynamic, reflecting the company’s position in the rapidly evolving financial technology industry. Many appreciate the opportunity to work on challenging projects that push the boundaries of financial services and technology. The company’s commitment to innovation is frequently cited as a motivating factor, providing employees with a sense of being at the forefront of industry changes.
However, some reviews indicate that the fast-paced nature of the work can lead to a high-stress environment. Employees have mentioned the pressure to meet tight deadlines and manage large workloads, which can sometimes impact work-life balance. Despite these challenges, there is a general consensus that the work is intellectually stimulating and offers opportunities for professional growth.
Management and Leadership
The leadership at Fiserv receives mixed reviews from employees. On the positive side, some employees commend their managers for being supportive and fostering a collaborative work environment. They appreciate the open-door policy of some managers and their willingness to listen to employee concerns and suggestions.
Conversely, other reviews point to inconsistencies in management styles across different departments and locations. Some employees have expressed concerns about a lack of clear communication from upper management, leading to uncertainties about company direction and employee expectations. There are also mentions of challenges in getting recognition and visibility for achievements, particularly in larger teams.
Employee Benefits and Compensation
Fiserv is often recognized for offering competitive compensation and a comprehensive benefits package. Employees appreciate the health insurance, retirement plans, and paid time off policies. These benefits are seen as reflective of the company’s commitment to its employees’ well-being and long-term financial security.
However, some reviews suggest that the compensation may not always be commensurate with the workload or industry standards, particularly in junior or mid-level positions. There are also comments about the variability in pay scales across different roles and departments.
Sales Positions & Tactics
User reviews of Fiserv often touch upon the company’s sales tactics. These reviews, primarily from clients and customers, provide a different angle on how Fiserv trains it saleforce.
A recurring theme in these reviews is the mention of aggressive sales tactics. Some users have reported experiences with sales representatives who are highly persistent, sometimes to the point of being intrusive. There are accounts of representatives using high-pressure strategies to close deals, which can leave customers feeling overwhelmed or coerced.
Additionally, there are mentions of a lack of transparency in sales pitches, with some customers finding that the actual terms and conditions of services differ from what was initially presented. This includes discrepancies in pricing, contract terms, and the specifics of service offerings.
Actual Employee Reviews
People are great, not super demanding, great work-life balance, AMAZING maternity leave, and great benefits overall. Managers are wonderful and don’t micromanage.
I’ve worked for Fiserv for 10 years. I’ve been remote for the last 8. When leadership changed to Frank Bisignano the entire organization started on a downward spiral. This list is long so I will try to keep it succinct 1. Pay has not kept up with either the market or inflation. 2. No flexibility in work arrangements. Remote is no longer an option. Relocation is a requirement and working onsite from a local office instead of moving is not an accepted compromise.
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