Financial services technology provider Fiserv made its latest acquisition this week. The Wisconsin-based company has agreed to purchase payment processing and payment acceptance startup Pineapple Payments.
Financial terms of the deal, which is expected to close next quarter, were not disclosed.
Under the agreement, Fiserv will continue to provide processing services to Pineapple’s 25,000 merchants. Fiserv anticipates the purchase will expand the reach of its own payment solutions, including the CoPilot partner platform, Clover, and Clover Connect.
“With Pineapple Payments already operating as a key distribution partner of Fiserv, we expect to accelerate the delivery of new and innovative capabilities to a host of new merchant clients,” said Fiserv President and CEO Frank Bisignano. “Together, we will provide omni-channel payments technology and services to enable merchants to maximize the potential of electronic payment processing. We look forward to welcoming Pineapple Payments to the Fiserv family and continuing to provide the best-in-class solutions and service that merchants and their customers expect.”
Headquartered in Wisconsin and founded in 2016, Pineapple Payments provides payment processing and omni-channel payment acceptance solutions for integrated software vendors and SMBs.
Today’s deal is Fiserv’s 35th acquisition. Prior to today, the company most recently bought up digital card services platform Ondot in a deal announced last December.
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Source: https://finovate.com/fiserv-buys-pineapple-payments/
