Combination will build on existing integration and facilitate new digital commerce use cases
BROOKFIELD, Wis.--(BUSINESS WIRE)--
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, today announced the acquisition of Bypass Mobile (“Bypass”), an independent software vendor (ISV) and leading innovator in enterprise point-of-sale systems. The acquisition of Bypass will help power the next generation of omni-commerce capabilities from Fiserv, enabling enterprise businesses to deliver a seamless customer experience that spans physical and digital channels.
Bypass provides robust back office management tools and rich insights engines for sports and entertainment venues, food service management providers and national restaurant chains. The acquisition builds on an existing strategic relationship through which Bypass software is integrated into Fiserv technology. More than 50 major stadiums and arenas already leverage the combination of Bypass and Fiserv technology, including Fiserv Forum in Milwaukee, Clover Park in Port St. Lucie, Florida and Citi Field in New York.
“Adding Bypass to our portfolio will make it easier for our clients to realize their digital transformation strategy, delivering interactions their customers are demanding,” said Devin McGranahan, senior group president, Global Business Solutions at Fiserv. “With this combination, we will improve the omni-commerce experience for businesses and their customers, making it easier and more efficient to pay for goods and services. We look forward to working with Brandon and the Bypass team to make omni-commerce smoother and simpler for clients and their customers.”
The powerful combination enables the creation of new, secure purchasing experiences across connected devices, as Bypass integrates with the universal commerce platform from Fiserv. Businesses will now be able to work with a single provider and benefit from increased operational efficiency, improved security and a more complete picture of customer interactions.
“We have long admired Fiserv and their commitment to delivering continuous innovation on behalf of their clients,” said Brandon Lloyd, Chief Executive Officer of Bypass. “In an age of increasing customer expectations, it is critical that businesses have a robust and easy-to-use omni-commerce platform. In combination with Fiserv, we will help businesses accept payments efficiently while continuing to meet customer expectations by providing a variety of payment options.”
Terms of the transaction were not disclosed.
For more information on universal commerce capabilities from Fiserv, visit fisv.co/universalcommerce.
Since its founding in 2010, Austin-based Bypass has become the leading innovator in enterprise point-of-sale systems, working with more than 300 national restaurant chains, sports and entertainment properties, and cafes in corporate, healthcare and educational settings across 18,000 registers. Whether through fixed terminals, mobile devices or desktop management software, Bypass accelerates profit, efficiency, and most importantly, the guest experience. Bypass combines front-of-house, self service, back-office tools and deep insights for an integrated solution that brings the innovation, sophistication, and scalability of e-commerce to physical merchants.
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.
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Source: Fiserv, Inc.