A Pair of Acquisitions Bolsters Fiserv’s Hospitality Business And Presence in Europe

Fiserv Inc. moved this week to strengthen its hand in the highly competitive hospitality and restaurant industries and pave the way for additional growth in Europe with the acquisitions of digital-commerce platform CardFree and processor AIB Merchant Services. Terms for the two deals, announced Thursday and Friday, were not disclosed.

Fiserv plans to integrate CardFree’s platform into its Clover point-of-sale system and its Commerce Hub data-management platform. The inclusion of CardFree’s technology stack will add drive-through software, kiosk, and sub-inventory enablement, Fiserv says. It will also provide third-party software-integration support in loyalty, delivery services, and property management to Fiserv’s Clover and Commerce Hub products and services, the Milwaukee-based processor adds.

CardFree’s platform enables merchants to use a single checkout process for all orders, including third-party delivery. “Integrating CardFree’s technology into Clover enhances our platform’s scalability and flexibility, empowering hospitality businesses to drive growth through elevated customer experiences,” Fiserv chief operating officer Takis Georgakopoulos says in a statement.

CardFree supports digital ordering, payments and loyalty programs for some 21,000 locations across the hospitality industry, according to industry figures.

In addition to the deal for CardFree, Fiserv announced it has closed on its acquisition of AIB Merchant Services by acquiring the remaining 49.9% of the Dublin-based processor and e-commerce acquirer it didn’t already own. The deal is expected to help fuel the growth of Fiserv’s Clover point-of-sale system in Europe, according to Fiserv. Details of this acquisition were also not disclosed.

AIB Merchant Services was established in 2007 as a joint venture between Fiserv and AIB Group. Fiserv announced in June its intention to acquire AIB. Under the terms of the deal, AIB Group will continue to refer to Fiserv businesses in need of card-acquiring services.