Financial services technology solutions
provider Fiserv has acquired m-payments provider M-Com to enhance
its mobile channel capabilities.
The two companies are no stranger to each
other, having been in partnership since 2008 where they have been
jointly working on developing and delivering ‘Mobile Money from
Fiserv’ to various financial institutions.
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The acquisition is hoped to accelerate the
development of innovative mobile solutions for existing clients of
Fiserv’s Mobile Money. M-Com’s mobile banking and payment
technology will become integrated into Fiserv’s current product
offerings as well as being leveraged for transformative new
solutions.
“Offering robust services through the mobile
channel is now critical for financial institutions,” said Adam
Clark, CEO of M-Com.
“With the addition of M-Com’s proven
technology and deep employee expertise, Fiserv is positioned to
continue delivering with excellence in the rapidly evolving mobile
space, both domestically and internationally. Together, we will set
the pace for mobile banking and payments.”
Financial terms of the acquisition were not
disclosed.
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