Fiserv, Inc. (NASDAQ: FISV), a global provider of financial services technology solutions, announced on Tuesday it has acquired MerchantPro Express, an Independent Sales Organization (ISO) that provides state-of-the-art processing services, advanced point-of-sale (POS) equipment and merchant cash advances to businesses across the U.S., as part of its strategy to expand its merchant services business and grow its partner-based distribution.
Fiserv reported that the acquisition will bring together market-leading payment solutions from its platform, which includes CoPilot, CardPointe and Clover, with the onboarding and service of MerchantPro Express. While sharing more details about the acquisition, Devin McGranahan, Senior Group President of Global Business Solutions at Fiserv, stated:
“MerchantPro Express has been a key Fiserv distribution partner since 2009. By combining our solutions and expertise under one roof we will be able to expand and speed the delivery of new and innovative solutions.”
Chris Briller, CEO at MerchantPro Express, further commented:
“By completing this transaction, we have confirmed our commitment to provide a high-quality and sustainable platform to our agents, employees, and customers. The highly regarded Fiserv brand and focus on growth will enable us to distribute premier products and services to our clients.”
The financial terms of the transaction were not disclosed.