The acquisition is expected to accelerate Fiserv’s digital payments and channel strategies.
CashEdge adds to Fiserv’s capabilities in areas such as account-to-account transfer, account opening and funding, data aggregation, small business payments, and person-to-person (P2P) payments.
Fiserv president and CEO Jeffery Yabuki said CashEdge provides an attractive suite of solutions to further enable the delivery of a highly differentiated payments experience for financial institutions and their customers, as well as accelerate the coming P2P movement.
CashEdge provides services to more than 500 clients. The transaction is expected to expand Fiserv’s workforce in the US and India.
The transaction is currently expected to be completed by September 2011, subject to regulatory approvals and customary closing conditions.
