Payments company Fiserv has acquired CardFree, an integrated platform that enables merchants to offer customised order, payment, and loyalty solutions.
Financial specifics of the deal remain undisclosed.
Go deeper with GlobalData
The acquisition is expected to augment the functionality of Clover, Fiserv’s point-of-sale system, supporting small businesses transition into larger entities with more technical demands.
CardFree is known for its patented technology and was established by the team responsible for the initial mobile applications of Starbucks and Dunkin’.
It is compatible with POS systems and payment processors, facilitating a unified checkout process for all transactions, including those from third-party delivery services.
The integration of CardFree’s platform into the Clover and Commerce Hub ecosystems will introduce new features, such as drive-through software, kiosk and sub-inventory management, and enhanced third-party software integration for loyalty schemes, delivery services, and property management.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataFiserv chief operating officer Takis Georgakopoulos said: “Today’s acquisition builds on the strong foundation Clover and CardFree have created through our work together and positions us to further expand Clover’s capabilities across the hospitality, restaurant and lodging industries.
“Integrating CardFree’s technology into Clover enhances our platform’s scalability and flexibility, empowering hospitality businesses to drive growth through elevated customer experiences.”
CardFree founder and CEO Jon Squire stated: “Joining Fiserv is an incredible opportunity for the CardFree team and takes our mission to bring the most advanced restaurant and hospitality solutions to market to the next level.
“Having collaborated closely with the Fiserv team, I’m confident we’re uniquely positioned to address the growing needs of hospitality operators with a best-in-class suite of tools that streamline operations and elevate guest experience.”
Furthermore, Fiserv has completed the acquisition of the remaining 49.9% interest in AIB Merchant Services (AIBMS), cementing its presence in the European market and extending the reach of Clover across the region.
AIBMS stands as a payment solutions provider in Ireland and a e-commerce acquirer in Europe.
Under the terms of the agreement, AIB Group will continue to exclusively recommend Fiserv to businesses seeking card acquiring services.
The deal was first announced in April.
