Paysafe and Fiserv Expand Partnership With New SMB Solutions

Global payments platform Paysafe and payment and financial technology provider Fiserv have expanded their partnership with new strategic financial solutions for small and medium-sized businesses (SMBs). The collaboration includes capital access, fraud protection, and digital wallet services.

“Together, we are creating innovative, growth-oriented solutions that unlock new opportunities for SMBs while accelerating our product expansion strategies,” Bruce Lowthers, CEO of Paysafe, said in a press release.

As part of the collaboration, Paysafe will integrate Fiserv’s Clover Capital solution, a flexible funding option for SMBs to help them scale and grow. Paysafe will also leverage Fiserv’s Data-as-a-Service solution to strengthen its risk and fraud protection capabilities for merchants and customers.

Furthermore, the two global financial firms will jointly launch a digital wallet service for the US market through Fiserv’s Clover merchant base. The new digital wallet will facilitate faster payouts for merchants and give them access to a broad range of banking services, all while improving the customer experience.

Paysafe offers one of the largest selections of payment types among processors – over 250 globally, including popular e-wallets like PayPal, Skrill, and NETELLER. Earlier this year, Paysafe reported an increased average number of transactions per active user of digital wallets. The launch of the new collaborative digital wallet service aligns with Paysafe’s increased client demands.

“These strategic initiatives reflect the strength and momentum of our partnership with Fiserv,” Lowthers said in the official press release.

Jennifer LaClair, Head of Merchant Solutions at Fiserv, added: “Our expanded collaboration with Paysafe reflects our shared commitment to empowering small and mid-sized businesses with the tools they need to thrive in today’s digital economy.”

This January, Paysafe obtained a payment institution (PI) license from the Central Bank of Brazil (BCB). The license allows Paysafe to offer merchant services on Brazil’s newly regulated online sports betting and gambling market and other industries like e-commerce and travel, paving the way for its expansion across Latin America.

A few months later, Fiserv also expanded its presence on the Brazilian market, agreeing to acquire Brazilian SMB-focused fintech company Money Money Serviços Financeiros.