- Paysafe (PSFE, Financial) and Fiserv (FI) expand their partnership to support small and medium-sized businesses (SMBs) with enhanced services.
- Key initiatives include improved access to capital, fraud protection, and a new digital wallet solution for Fiserv's Clover merchants.
- This collaboration aims to empower SMBs and accelerate product expansion strategies.
Paysafe (PSFE), a prominent payments platform, and Fiserv, Inc. (FI), a leader in payments and financial services technology, have announced an expansion of their long-term partnership. This move aims to deliver superior value to their customers, particularly focusing on small and medium-sized businesses (SMBs).
A significant development in this collaboration is the integration of Fiserv’s Clover Capital solution, which is designed to offer SMBs improved access to the capital necessary for scaling and growth. Furthermore, Paysafe will utilize Fiserv's Data-as-a-Service solution to augment their risk and fraud protection capabilities, thereby enhancing security measures for both merchants and consumers.
In a notable advancement in the US, Paysafe and Fiserv are set to introduce a digital wallet within Fiserv’s Clover merchant ecosystem. This wallet aims to facilitate faster settlements and provide businesses with comprehensive banking services, thus improving the overall customer experience. This initiative is pivotal in the evolution of Paysafe’s business wallet platform, ensuring financial efficiency and scalability.
Bruce Lowthers, CEO of Paysafe, highlighted the strategic importance of these initiatives, noting that the partnership with Fiserv is focused on creating innovative solutions that not only aid SMB growth but also expedite product expansion strategies. Jennifer LaClair, Head of Merchant Solutions at Fiserv, emphasized the shared commitment of both companies to empower SMBs with essential tools for thriving in a digital economy.
