Fiserv Enters Agreement with Fintech Pineapple Payments to Extend Delivery of Innovative Solutions to Merchants

Fiserv, Inc. (NASDAQ: FISV), a global provider of payments and financial services technology solutions, announced on Thursday (March 25, 2021) that it had entered an agreement with Pittsburgh’s Fintech Pineapple Payments. The terms of the deal have not been shared publicly.

Established in 2016, Pineapple Payments offers payments processing services, proprietary tech along with omni-channel payment acceptance services for integrated software providers and SMBs. The Fintech company serves over 25,000 merchants.

In statements shared with Biz Journals, Frank Bisignano, President and Chief Executive at Fiserv, noted that with Pineapple Payments currently serving as a key distribution partner of Fiserv, they intend to accelerate the delivery of innovative capabilities to many different merchant clients.

Bisignano added that together, they will aim to offer omni-channel payments tech and related services to enable merchants to “maximize the potential” of digital payment processing. He added that they’re looking forward to welcoming Pineapple Payments to the Fiserv team and continuing to provide services that merchants and their clients require.

Brian Shanahan, a serial Fintech entrepreneur who is serving as Chief Executive at Pineapple Payments, stated that Fiserv is a great business partner to take its company goals and mission to the next level.

The deal, which is currently subject to relevant approvals and closing requirements, is set to be finalized during H2 2021.

Pineapple Payments President Jon Halpern told Biz Journals that with the scale and industry experience of Fiserv, they intend to  make commerce even more seamless in several key segments. Halper added that they look forward to their professional teams working cooperatively as they aim to set a higher standard of service for their customers.

As covered in January 2021, Fiserv, Inc. had completed its acquisition of Ondot Systems, Inc. The company previously stated it was acquiring Ondot in December 2020.

As previously reported, Ondot processes more than one billion transactions each month and offers digital capabilities for more than 30 million cards. Fiserv intends to further develop the Ondot platform’s interplay between real-time authorization, user context, and AI in order to “engage users in-the-moment – before, during and after transactions.”

Bisignano had shared at the time that digital services have become increasingly important and consumers are turning to online and mobile banking. They’re also conducting more contactless payments.

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