Global FinTech payments firm Fiserv announced on Tuesday (March 3) that it has acquired MerchantPro Express to help it advance the merchant services division of its business.
The acquisition will also help Fiserv grow its partner-based distribution. Financial terms of the transaction were not disclosed.
“MerchantPro Express has been a key Fiserv distribution partner since 2009,” said Devin McGranahan, senior group president of global business solutions at Fiserv. “By combining our solutions and expertise under one roof, we will be able to expand and speed the delivery of new and innovative solutions.”
The Fiserv-MerchantPro combination puts a range of payment solutions – including CoPilot, CardPointe and Clover – and onboarding tools on a single, integrated platform.
“By completing this transaction, we have confirmed our commitment to provide a high-quality and sustainable platform to our agents, employees and customers,” said Chris Briller, chief executive officer at MerchantPro Express. “The highly regarded Fiserv brand and focus on growth will enable us to distribute premier products and services to our clients.”
Founded in 2009 and headquartered in Melville, New York, MerchantPro Express is an independent sales organization (ISO) that offers the latest processing services, point-of-sale (POS) equipment and merchant cash advances. Platform analytics help businesses expand by lowering expenses associated with processing costs and offering a cross-section of transparent, personalized services.
“We could not be more thrilled to join the Fiserv family. Their cutting-edge suite of payments technology products and services will help transform the way our sales agents and their merchant clients are able to serve customers,” said Sean O’Neil, chief operating officer at MerchantPro Express.
Last month, Fiserv announced a partnership with software company SAP, offering B2B firms a streamlined platform to bring digital payments to their customers with the integration of two cloud-based solutions: Fiserv’s enterprise payments app SnapPay and the SAP digital payments add-on.