Fiserv, Inc. (NASDAQ: FISV), a global provider of payments and financial services technology solutions, completed the acquisition of Ondot Systems, Inc.
The amount of the transaction was not disclosed.
The deal, first announced on Dec 16, 2020, will enable Fiserv to further expand its digital capabilities, enhancing its suite of integrated solutions to enable clients of all sizes to deliver digital-first and personalized experiences to consumers.
Founded in 2011 and led by Vaduvur Bharghavan, President and Chief Executive Officer, Ondot provides more than 4,500 banks and credit unions with a digital card services platform to drive cardholder engagement. From community issuers to top global banks, the company enables financial institutions to offer in-the-moment convenience, control, and transparency for credit and debit cards, leading to higher usage, lower cost, and reduced fraud. Ondot processes more than 1 billion transactions per month and provides digital capabilities for over 30 million cards.
Led by Frank Bisignano, President and Chief Executive Officer, Fiserv is a global leader in payments and financial technology. The company provides clients with solutions in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution.