Fiserv to Acquire Brazilian Financing Engine Money Money

Fiserv plans to acquire Brazilian FinTech company Money Money Servicos Financeiros S.A. to expand the range of payment, management and cash flow solutions Fiserv’s Clover offers Brazilian small– to medium-sized businesses (SMBs).

Following the planned acquisition, Money Money’s specialized financing engine will be integrated with the Clover cloud-based point-of-sale and business management platform, Fiserv said in a Wednesday (April 23) press release.

Money Money’s financing engine is connected to the receivables’ registry infrastructure regulated by the Central Bank of Brazil, according to the release. This enables business analysis that helps generate personalized offers of working capital and other financial services with competitive rates.

Subject to regulatory approval and customary closing conditions, the acquisition is expected to close during the second quarter, per the release.

“By adding this service to our portfolio, we take an important step to boost the growth of our acquiring clients, facilitating their access to the necessary resources to invest in improvements and processes,” Jorge Valdivia, general manager of Fiserv in Brazil, said in the release. “Our continued investment in the Brazilian market demonstrates our commitment to advance our clients’ business objectives by expanding our local capabilities.”

The planned transaction follows other acquisitions announced by Fiserv.

The company said April 7 that it acquired payment facilitator (PayFac) Pinch Payments, which serves 2,000 merchants in Australia and New Zealand, and its management platform Glassbox. Fiserv said the deal gives it a payment orchestration platform that supports flexible service options and speed to market for PayFacs, independent software vendors (ISVs), business payment solutions providers (BPSPs), independent sales organizations (ISOs) and enterprises.

In March, Fiserv acquired CCV, a payment solutions provider operating in the Netherlands, Belgium and Germany, saying the deal allows Fiserv to speed deployment of the Clover platform throughout Europe. CCV’s services include transaction processing, online and closed-loop payments, acquiring and a range of in-store and self-service payment terminals.

Also in March, Fiserv finalized its purchase of earned wage access (EWA) provider Payfare, saying the deal would accelerate the delivery of embedded finance solutions for all of Fiserv’s clients. The deal was announced late last year.

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