Fiserv Purchases CCV to Expand Clover Throughout Europe
Fiserv has acquired CCV, a payment solutions provider operating in the Netherlands, Belgium and Germany.
The payments technology firm announced the deal Wednesday (March 19) morning, saying it allows Fiserv to speed deployment of its Clover point-of-sale (POS) platform throughout Europe. Financial terms of the purchase were not disclosed.
Founded in 1958, CCV’s services include transaction processing, online and closed-loop payments, acquiring and a range of in-store and self-service payment terminals. According to a Fiserv news release, CCV “has been a pioneer in payments,” having facilitated the first electronic payments in its home country of the Netherlands 55 years ago.
“We have a deep appreciation and admiration for the reputation CCV has built over its 67-year history, and the impact the company has on its stakeholders,” said Katia Karpova, head of the EMEA (Europe, the Middle East and Africa) region at Fiserv. “Fiserv is committed to building upon CCV’s strong foundation to ensure continued success.”
The company says the acquisition will allow the two companies to “create a robust omnichannel offer” that lets more European businesses accept payments with Fiserv’s products.
“Businesses are continuously looking for ways to operate more effectively, with added-value applications and services in a secure manner. Providing our merchant and partner network with Fiserv’s suite of products allows them to access the latest, best and most reliable payment technology,” said Michiel Bijleveld, CCV’s chief technology/innovation officer.
Clover has been a strong revenue driver for Fiserv. The company’s latest quarterly earnings — released last month — showed Clover sales climbing 29%, representing $310 billion in annualized gross payments volume (GPV).
The announcement comes weeks after Fiserv said it had finalized its purchase of Payfare, an earned wage access (EWA) provider.
“This acquisition complements Fiserv’s existing embedded financial solutions with card program management and a white-label consumer application,” the company said at the time.
“Payfare’s offerings, combined with Fiserv’s strengths in processing, bank ledgers and integrated value-added services, provide a complete solution for embedded banking, payments and lending.”
Meanwhile, PYMNTS Intelligence collaborated recently with Fiserv’s Carat on a report that finds many companies in the gaming industry held back by outdated data strategies. That research found that just 18% of gaming platforms both track and have access to real-time market data, even though 80% think that such access is critical.
“This glaring disconnect can leave gaming companies flying blind, unable to make agile, informed decisions in an industry that thrives on immediacy,” PYMNTS wrote earlier this week. “After all, from optimizing player engagement to refining monetization strategies, data-driven decision-making is the linchpin of modern game development and live operations.”
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