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Fiserv Inc. is rolling out payment-acceptance technology to food-and-beverage vending machines in multiple markets across Europe in a move that supports mobile wallets as well as global and local payment cards.
Selecta Group, operator of the machines, says its network supports devices in 16 countries selling snacks, meals, and coffee worth nearly $1.2 billion in yearly volume. Its goal is to consolidate payment methods on a single platform, it said in news release on Tuesday.
Switzerland-based Selecta expects to manage onboarding and activation of machines, as well as data reporting, maintenance, and diagnostics, through a dedicated portal. As part of the project, the company says it is also working on its own payment app featuring a loyalty program.
Overall, Selecta says it is looking to replace cash payments and bring contactless capability to its network. “We will be able to deliver these options in a way that is easy for us to manage, through a single solution,” says Christian Schmitz, Selecta’s chief executive, in a statement.
“Seamless digital-payment capabilities perfectly complement the convenience of self-service retail, and enhance the overall buying experience,” adds John Gibbons, head of EMEA at Brookfield, Wis.-based Fiserv, in a statement. “As consumer habits continue to shift, we are committed to working with Selecta to meet the current and future payment preferences of their clients while enabling them to streamline operations across Europe.”
The project with Selecta represents further expansion in the European market by Fiserv. This spring, the company formed a joint venture in Germany with Deutsche Bank to reach more than 800,000 merchants. In that venture, the company expects to enable payments through its Clover platform, which features the Clover point-of-sale device.
Globally, Fiserv reported $1.67 billion in merchant-acceptance revenue in the second quarter, up 43% year-over-year, making the unit the largest of its three operating divisions in terms of revenue. In 2019, the company acquired First Data Corp., one of the largest acquiring processors in the world, in a transaction valued at $22 billion.
