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Fiserv's $22B purchase of First Data marks one of the largest acquisitions in the fintech industry US fintech solutions provider Fiserv has announced it will purchase payment processor First Data in an all-stock deal for $22 billion, marking one of the largest acquisitions within the fast-growing fintech industry.
Fiserv, a core banking vendor with a client list of 12,000 financial institutions (FIs), offers services including processing credit and debit card transactions for banks. Meanwhile, First Data provides payment processing and technology to over 4,000 FIs.
The companies anticipate the deal will formally close in the second half of this year.
Business Insider Intelligence's Mekebeb Tesfaye has the full story. | |
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| | | Six months after AT&T teamed up with Magic Leap, a cutting-edge AR headset startup, to become the sole US wireless carrier for the company's headsets, the firms have announced the expansion of this partnership, according to a company statement. Read More → | | | | |
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| | | Neobanks, digital-only banks that aren't saddled by traditional banking technology and costly networks of physical branches, have been working to redefine retail banking in major markets around the world. While the US is home to some of the oldest neobanks, the country's neobank ecosystem has lagged behind its European counterpart — until now. This report maps out the factors contributing to this shifting tide, examines how key players are positioning themselves to take advantage, and explores how incumbents can embark on their own digital transformations to stave off disruption. Learn More → | | | | |
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Mobile has edged out the web as the UK's most popular banking channel. |  | |
Ad buyers expect to spend more on Amazon, Instagram and less on core FB, Google. |  | |
Retailers saw unexpected conversion rates during the holidays. |  | |
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