Welcome to our dedicated page for Fiserv news (Ticker: FI), a resource for investors and traders seeking the latest updates and insights on Fiserv stock.
Fiserv, Inc. (NASDAQ: FI) is a prominent American multinational corporation headquartered in Brookfield, Wisconsin. With a rich history in the financial technology sector, Fiserv provides a broad range of services to banks, credit unions, securities broker-dealers, mortgage companies, insurance firms, leasing and finance companies, and retailers.
As a leading provider of core processing and complementary services, Fiserv specializes in electronic funds transfer, payment processing, and loan processing. These services are critical for small and midsize banks and credit unions, helping them manage their day-to-day operations efficiently.
In 2019, Fiserv significantly expanded its capabilities by merging with First Data, a move that strengthened its position in the payment processing sector, particularly for merchants. This merger has allowed Fiserv to offer a more comprehensive suite of payment solutions and enhance its service offerings.
Despite being primarily focused on the US market, approximately 10% of Fiserv's revenue is generated from international operations. This global reach ensures that the company remains a key player in the financial technology landscape worldwide.
Fiserv's dedication to innovation and customer satisfaction has led to numerous recent achievements. The company continues to invest in new technologies and partnerships to stay ahead in the competitive fintech market. Current projects include the development of advanced payment solutions, improved security measures, and enhanced digital banking platforms.
Financially, Fiserv maintains a strong position with consistent revenue growth and robust financial health. The company's strategic initiatives and operational efficiencies contribute to its long-term stability and growth potential.
The Fiserv Small Business Index for August 2024 remained steady at 141, indicating stable consumer spending at small businesses in the US. Key findings include:
- Year-over-year growth: Sales +1.6%, Transactions +5.7%
- Month-over-month changes: Sales -0.3%, Transactions +1.3%
- Retail sector showed strength, with the index rising to 147
- Restaurants rebounded, with the index increasing 3 points to 126
- Professional Services continued strong growth: Sales +9.6%, Transactions +8.5% YoY
The report highlights shifts in consumer spending patterns, with retail and restaurant sectors trending upward, while some service-based businesses experienced slower growth rates.
PayPal Holdings, Inc. (NASDAQ: PYPL) has expanded its strategic partnership with Fiserv, Inc. (NYSE: FI) to streamline checkout experiences in the U.S. This expansion simplifies how Fiserv's merchant clients enable PayPal, Venmo, and related services, providing a simple connection point to Fastlane by PayPal for accelerated guest checkout flows.
The partnership, spanning over a decade, covers various merchant and payment functions across millions of merchants globally. Fastlane, PayPal's innovative checkout solution, allows users to complete purchases in as little as one click. It has shown impressive results, with guest shoppers using Fastlane converting over 80% of the time, achieving up to 50% higher conversion rates, and reducing checkout time by 32% compared to non-Fastlane users.
The Fiserv Small Business Index™ for July 2024 shows a rebound in consumer spending at small businesses. The index rose to 141, with small business sales growing 3.5% year-over-year and 1.3% month-over-month. Key highlights include:
- Retail sector saw strong growth, with the national Retail index rising to 146
- Restaurant sales declined 1.6% annually and 3.1% monthly
- Professional, Scientific, and Technical Services experienced significant growth (15.2% YoY)
- Specialty Trade Contractors saw increased demand, with 5.7% YoY sales growth
The report indicates shifting consumer spending patterns and potential pricing relief in some sectors, providing valuable insights for small businesses and the broader economy.
Fiserv (NYSE: FI) reported strong Q2 2024 results, with GAAP revenue growth of 7% both in the quarter and year-to-date. GAAP EPS increased 39% in both periods. The company achieved organic revenue growth of 18% in Q2 and 19% year-to-date, while adjusted EPS rose 18% in both timeframes.
Key highlights include:
- Q2 GAAP revenue: $5.11 billion
- Q2 GAAP EPS: $1.53
- Q2 Adjusted EPS: $2.13
- Q2 Organic revenue growth: 18% (Merchant Solutions: 28%, Financial Solutions: 8%)
Fiserv affirmed its 2024 organic revenue growth outlook of 15-17% and raised its adjusted EPS outlook to $8.65-$8.80, representing 15-17% growth.
Fiserv (NYSE: FI) will release its second quarter financial results on July 24, 2024, before the market opens. The company, known for its payments and financial services technology solutions, will hold a live webcast at 7 a.m. CT on the same day to discuss the results. Investors can access the webcast and supplementary financial information on the Fiserv website under the investor relations section. A replay will be available approximately one hour after the webcast concludes.
The Fiserv Small Business Index for June 2024 shows a decline to 140, reflecting a slowing pace in small business growth. Year-over-year, small business sales increased by 1.6% and transactions by 4.4%, but month-over-month, sales fell by 2.9% and transactions by 1.5%. Retail sales saw mixed results, with general merchandise up 8.5% yearly but significant monthly declines in categories like gasoline stations (-4.5%) and health/personal care (-7.2%). Restaurant sales grew 3.6% annually but declined 1.2% monthly. Other sectors like professional services and specialty trade contractors experienced slower growth. Fiserv attributes the slowdown to inflation reduction and seasonal demand shifts.
Fiserv, a global provider of payments and financial services technology solutions, has announced the appointment of Takis Georgakopoulos as Senior Advisor, Executive Vice President, and a member of the Management Committee, effective September 3, 2024. Georgakopoulos brings extensive experience in payment solutions and merchant services, having served as the Global Head of Payments at J.P. Morgan. He also has a background as a partner at McKinsey & Company, where he advised major banks and asset managers. Fiserv's CEO, Frank Bisignano, emphasized that Georgakopoulos’s expertise will contribute to delivering top-notch technology and client outcomes.
Fiserv's Small Business Index for May 2024 highlights modest growth in small business sales amidst shifting consumer spending patterns. The index held steady at 145, with small business sales growing 4.3% year-over-year and 0.2% month-over-month. Foot traffic increased by 5.2% year-over-year but dropped 0.5% compared to April. The data reveal a shift towards non-discretionary spending, with notable growth in grocery store purchases over restaurants. Retail spending was flat, with gains in categories like Food & Beverage (+2.1%) and slight declines in General Merchandise (-0.4%) and Auto Parts (-0.9%). Service categories showed mixed results, with Professional Services up 13.5% year-over-year but down 0.7% month-over-month, while Truck Transportation saw a robust 4.0% month-over-month growth.
Monex USA has announced its integration with Fiserv's Payments Exchange, enhancing international payment options for financial institutions. This collaboration allows financial entities using Payments Exchange to partner with Monex USA for foreign exchange wire transfers. The integration supports straight-through processing and paperless transactions, simplifying global payments. Mike Rockouski, Managing Director at Monex USA, highlighted the enhanced service offerings for their clients. Additionally, Mark Hill emphasized the automation of complex processes, which boosts customer relationships and expands client bases. This integration links Payments Exchange with multiple global financial networks, offering a streamlined and efficient payment solution.
Fiserv, a global leader in payments and financial services technology, announced its participation in two major investor conferences. CEO Frank Bisignano will present at the Baird Global Consumer Technology and Services Conference on June 4 at 7:55 a.m. ET, and the Mizuho Technology Conference on June 12 at 9:15 a.m. ET. Interested parties can access live webcasts and archived replays through the investor relations section on Fiserv's website.
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