Carat enables businesses to disburse funds at scale to payment apps such as PayPal and Venmo through a single API

Digital payout capabilities are part of the Carat omnichannel commerce ecosystem

BROOKFIELD, Wis., August 18, 2021 —Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, today announced that Carat has expanded the digital payout options available to businesses to include payments to PayPal and Venmo accounts. The innovation allows businesses that deliver mass payouts to provide additional choice in how customers quickly receive funds, while also unlocking new opportunities to market their brands through a social community such as Venmo.

As consumers increasingly adopt digital wallets, it has become important for businesses to provide the convenience of payouts directly into a consumer’s preferred account or wallet. For businesses operating in verticals with payout-heavy infrastructure, such as insurance, the ability to deliver payouts at scale to PayPal or Venmo accounts can be a significant differentiator.

“Fiserv is helping organizations across the globe move money and information with the speed, flexibility, and convenience that today’s consumer is demanding,” said Nandan Sheth, Head of Carat and Digital Commerce at Fiserv. “With the addition of payouts to PayPal and Venmo accounts via our Carat ecosystem, businesses can benefit from enhanced visibility of their brand via a logo, tagline or customized message in Venmo’s social payments platform. This provides our clients with a unique opportunity to drive next generation customer experiences, with the simplicity of doing so at scale through a single API.”

Digital payouts are part of the Carat omnichannel commerce ecosystem that more securely delivers pay-in and payout opportunities across the most popular channels and devices. Through simple API access, Carat enables clients to easily access pre-integrated solutions – such as digital payouts – that allow businesses to imagine and realize cutting-edge customer journeys.

Digital payouts can also help businesses save time and money with a comprehensive solution that reduces operating costs associated with delivering paper checks. Carat currently executes nearly $1 billion in digital payouts a month via exclusive payout options and direct bank connections. In addition to payouts to digital wallets such as PayPal and Venmo, businesses can disburse digital payouts via a consumer’s credit or debit card, ACH, prepaid card, or even a digital check.

“With more than 400 million active accounts on the PayPal and Venmo platforms, we are able to provide companies with a fast, easy, and cost effective way to send money in situations such as insurance payouts or other disbursements,” said Dan Leberman, Senior Vice President of Partnerships, PayPal. “This integration is the next step in our long standing partnership with Fiserv and will provide substantial value to enterprises that need to send money directly to customers.”

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.

Additional Resources:

• Downloadable Image of Branded Payout
• Digital Disbursement and Payout Solutions

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 solution. Fiserv is a member of the S&P 500^® Index and the FORTUNE^® 500 and is among FORTUNE World’s Most Admired Companies^®. Visit fiserv.com and follow on social media for more information and the latest company news.

Media Relations:

Chase Wallace
Director, Communications
Fiserv, Inc.
+1 470-481-2555
chase.wallace@fiserv.com

Additional Contact:

Ann S. Cave
Vice President, External Communications
Fiserv, Inc.
678-325-9435
ann.cave@fiserv.com