Fiserv acquires Pennsylvania-based fintech company

The acquisition will expand the reach of payment solutions from Fiserv

Fiserv

Fiserv acquires Pennsylvania-based fintech company. Source: facebook.com

Fiserv has announced the acquisition of Pineapple Payments and will keep providing payment processing services to Pineapple Payments merchants.

Founded in 2016, Pineapple Payments provides payment processing, proprietary technology, and omnichannel payment acceptance solutions for integrated software vendors and SMBs. The company currently serves more than 25,000 merchants.

With Pineapple Payments already operating as a key distribution partner of Fiserv, we expect to accelerate the delivery of new and innovative capabilities to a host of new merchant clients. Together, we will provide omnichannel payments technology and services to enable merchants to maximize the potential of electronic payment processing. We look forward to welcoming Pineapple Payments to the Fiserv family and continuing to provide the best-in-class solutions and service that merchants and their customers expect
Frank Bisignano, President and Chief Executive Officer of Fiserv

The transaction is subject to customary approvals and closing conditions and is expected to close in Q2 2021. The financial terms of the transaction were not disclosed.

We’ve reported that 1 in 5 Americans changed their banks amid pandemics.

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