Trust Payments Expands Fiserv Relationship to Enable Long-Term Growth

Rhea-AI Summary

Fiserv has entered into a multi-year agreement with Trust Payments, extending their partnership since 2012. This deal enables Trust Payments to leverage Fiserv's acquiring-as-a-service capabilities to enhance their payment solutions for clients. Trust Payments reported a 73% increase in revenues last year, reflecting growing demand for digitized payment solutions. The partnership aims to support Trust Payments' global expansion and provides access to innovative payment processing technologies, aligning with the increasing trend towards omnichannel commerce.

Positive

• Trust Payments reported a 73% revenue increase year-over-year.
• Extended partnership is expected to support Trust Payments' global expansion plans.
• Fiserv's acquiring-as-a-service capabilities will enhance Trust Payments' service offerings.

Negative

• None.

Multi-year agreement extends existing relationship and adds robust acquiring-as-a-service capabilities

BROOKFIELD, Wis. & LONDON--(BUSINESS WIRE)-- London-based Trust Payments, a disruptive leader in fintech specialising in frictionless payments and value-added services, is expanding its existing relationship with Fiserv to support the company’s ambitious growth and worldwide expansion plans. The new long-term agreement builds on the companies’ successful collaboration since 2012 and will allow Trust Payments to provide its clients with on-demand payment capabilities, enabled by acquiring-as-a-service (AqaaS) capabilities from Fiserv.

The emergence of AqaaS has made it possible for a broad range of fintechs beyond financial institutions or large payment processers to become merchant acquirers, enabling the acceptance of card payments for their own clients.

“Enabling card payment acceptance is a must for any company looking to include payments as part of their services mix. And, for fintechs offering payment acceptance, the selection of a processing partner is critical, as their advice, experience, flexibility and reliability have a strategic impact on business operations and growth,” said Adam Bowman, Vice President of Acquiring-as-a-Service at Fiserv. "Trust Payments is one of the industry’s most dynamic payments players, and we are proud to extend our relationship with them as they accelerate their growth and serve even more businesses.”

Trust Payments is seeing rapid growth, with a 73% increase in total revenues last year, as more merchants recognised the need for digitisation of payments and commerce, partially fuelled by the rise in contactless spending and the need to meet growing customer demand for omnichannel experiences.

"Trust Payments has had a successful, long-standing relationship with Fiserv and is delighted to further extend this partnership based on the proven Fiserv track record of supporting acquirers at scale,” said Daniel Holden, Chief Executive Officer of Trust Payments. “With this extension, Fiserv will deliver the next generation payment processing capability necessary to support Trust Payments’ growth for years to come.”

Trust Payments is also one of the first businesses to utilise the Fiserv suite of API-enabled services to facilitate faster and more seamless access to new capabilities.

“Fiserv has demonstrated its commitment to invest in its technology and processing services in the coming years, which will be pivotal to Trust Payments’ delivery of data and services to our clients via on-demand APIs and SDKs,” said Holden. “This partnership will enable us to continue providing our merchants with the most innovative global commerce services.”

In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud- based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index, the FORTUNE® 500, and has been recognised as one of FORTUNE World's Most Admired Companies® for 11 of the past 14 years and named among the World’s Most Innovative Companies by Fast Company for two consecutive years. Visit fiserv.com and follow on social media for more information and the latest company news.

About Trust Payments

Trust Payments is a disruptive leader in fintech, specialising in frictionless payments and value-added services for online and offline merchants. We provide on-demand Payments and Banking-as-a-Service to help businesses grow and scale online, in-store, and on mobile. Combining these omnichannel services with powerful tools, such as retail operations technology, loyalty management and instant eCommerce, Trust Payments is constantly engaging new, innovative payments methods in crypto and bank transfers to drive Converged Commerce™. Trust Payments has a global footprint, with over 400 people across 10 offices supporting the most demanding business sectors ­-- from retail, travel and hospitality to crypto, gaming, and financial services. We have an acquiring network of over 50 global banks and hundreds of alternative payment methods. Trust Payments holds Visa and Mastercard Principal Memberships in the EU for cross-border business and holds licenses in 6 US States to carry out regulated payments in gaming. Find out more at www.trustpayments.com.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220606005452/en/

Media Relations:

Ann Cave

Vice President, External Communications

Fiserv, Inc.

+ 1 678-325-9435

ann.cave@fiserv.com



Media Relations:

Joe Fernandez

Content & Communications Manager

Trust Payments

joe.fernandez@trustpayments.com

Source: Fiserv

FAQ

What is the significance of the multi-year agreement between FISV and Trust Payments?

The agreement extends their partnership and allows Trust Payments to utilize Fiserv's acquiring-as-a-service capabilities, enhancing their payment solutions.

How much did Trust Payments increase their revenues last year?

Trust Payments reported a 73% increase in total revenues last year.

What does acquiring-as-a-service mean for Trust Payments?

Acquiring-as-a-service enables Trust Payments to accept card payments on behalf of their clients, expanding their service offerings.

When did FISV and Trust Payments start their collaboration?

FISV and Trust Payments have been collaborating since 2012.

How will the partnership benefit Trust Payments' clients?

The partnership will provide clients with on-demand payment capabilities and access to innovative payment processing technologies.