Wedge and Fiserv enable financial institution access to innovative programmable payments capabilities

Rhea-AI Summary

Wedge is collaborating with Fiserv to provide innovative programmable payment solutions to financial institutions via the AppMarket. This partnership aims to enhance cash flow management for consumers by allowing spending from various assets, including stocks and cryptocurrencies, through a single debit card. Approximately 40% of U.S. banks utilize Fiserv technology, positioning Wedge to reach a broad customer base. This initiative is expected to optimize everyday spending and simplify the payment experience for users, empowering them to make smarter financial choices.

Positive

• Collaboration with Fiserv enhances access to Wedge's technology for financial institutions.
• Wedge's solution allows spending from multiple asset types, increasing consumer options.
• Approximately 40% of U.S. banks supported by Fiserv technology boosts Wedge's market potential.

Negative

• None.

Financial institutions of all sizes can offer consumers a debit card that optimizes cash flow

AUSTIN, Texas, Dec. 19, 2022 /PRNewswire/ -- Wedge, the fintech company on a mission to make consumer's dollars go farther by bringing the power of the markets and programmable payments to everyday spending, is bringing its capabilities to AppMarket from Fiserv, a collaborative online marketplace where financial institution clients of Fiserv (NASDAQ: FISV) can easily access transformative technology. This will allow Wedge to bring its technology to more financial institutions more efficiently and accelerate its growth trajectory. In addition, Wedge will leverage a real-time fintech ledger and debit issuing capabilities from Fiserv to further its goal of revolutionizing consumer spending.

Wedge is an innovative fintech solution that allows users to spend from multiple fiat accounts and assets with a single card. Wedge is positioned to disrupt the payments space with its ability to simplify a user's wallet, while giving them more upside than achievable with conventional credit and debit offerings. Wedge gives users the power to use their stocks, crypto, ETFs or cash for purchases in the way that works best for them, while earning rewards and benefitting from market movements. Wedge users keep their bank and funding relationships coupled with a new, intuitive way to spend.

"We have an opportunity to disrupt the payments space and shift how consumers think about optimizing their day-to-day spending needs moving forward," said Billy Roberts, Wedge CEO. "We are incredibly excited about working with Fiserv, and the positive impact we can have in our industry and for consumers."

Approximately 40% of U.S. banks and credit unions are supported by Fiserv technology and services. The availability of Wedge via AppMarket from Fiserv will enable financial institutions across the country to offer this innovative technology to their accountholders.

"Consumers today are particularly interested in options that simplify the payment experience while enabling their dollars to go further," said Sunil Sachdev, head of Fintech and Growth, Fiserv. "By facilitating availability of programmable payments via AppMarket, we're empowering our clients to connect their accountholders with the fintech experiences they desire, all through their trusted financial institution relationship." 

To learn more about Wedge and how to get the most out of your assets through everyday spending, visit wedge.us.

About Wedge Financial, Inc.
Wedge provides the first digital wallet and spending app of its kind that lets users fund everyday purchases by using any asset in their Wedge wallet, including cryptocurrencies, stocks, and cash. Wedge is reinventing everyday spending by giving users the choice of selecting the optimal asset to use at checkout to save on purchases by taking advantage of real-time market movements. Wedge is available through the Apple and Google Play app stores.

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 recognized 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/wedge-and-fiserv-enable-financial-institution-access-to-innovative-programmable-payments-capabilities-301705821.html

SOURCE Wedge

FAQ

What is the partnership between Wedge and Fiserv about?

Wedge and Fiserv are partnering to bring innovative programmable payment solutions to financial institutions through the AppMarket.

How will Wedge's technology benefit consumers?

Wedge allows consumers to spend using various assets like stocks and cryptocurrencies, optimizing their cash flow and payment experience.

What percentage of U.S. banks use Fiserv technology?

Approximately 40% of U.S. banks and credit unions are supported by Fiserv's technology and services.

What advantages does Wedge offer compared to traditional payment methods?

Wedge simplifies the payment process by allowing users to utilize multiple asset types, enhancing their spending flexibility.

When was the press release about Wedge and Fiserv issued?

The press release was issued on December 19, 2022.