Fiserv Named a World’s Most Innovative Company by Fast Company
Fiserv recognized alongside USDA for enablement of the SNAP Online Purchasing Pilot, allowing millions of Americans to buy groceries online for the first time
BROOKFIELD, Wis., March 9, 2021 — Fast Company has named Fiserv, Inc. to its list of World’s Most Innovative Companies 2021, a group of businesses that have not only found a way to be resilient in the past year, but also turned those challenges into impact-making processes.
Fiserv (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, was recognized for its role in facilitating the acceptance of online Electronic Benefits Transfer (EBT) payments in support of the United States Department of Agriculture’s (USDA) Supplemental Nutrition Assistance Program (SNAP) Online Purchasing Pilot. The program scaled rapidly in 2020 to allow millions of underserved Americans to buy groceries online for the first time.
“Demand for online grocery ordering grew in 2020 as consumers sought to avoid in-person shopping due to the COVID-19 pandemic, and the USDA wanted to make online commerce capabilities available to SNAP recipients while adhering to the guidelines of the program,” said Nandan Sheth, Head of Carat and Digital Commerce at Fiserv. “We are proud that our technology helped make this possible and are committed to helping provide equitable online purchasing access to the millions of people who rely on SNAP benefits to purchase groceries for their families.”
All EBT transactions, in-person or online, require the use of the cardholder’s PIN to authenticate the transaction. Leveraging a proprietary PIN-on-glass solution that is part of Carat, an omnichannel commerce ecosystem from Fiserv, grocers are able to create a digital PINpad within their digital commerce environment that allows EBT cardholders to verify their transaction.
In order to identify the World’s Most Innovative Companies, Fast Company’s editors and writers sought out the most groundbreaking businesses across the globe and industries. They also judged nominations received through their application process. The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy.
“In a year of unprecedented challenges, companies like Fiserv have made an impact on their industries and culture as a whole by exhibiting fearlessness, ingenuity, and creativity in the face of crisis,” said Fast Company Deputy Editor David Lidsky, who oversaw the issue with Senior Editor Amy Farley.
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
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.
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. The editor-in-chief is Stephanie Mehta. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
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