Fiserv Acquires M-Com for Mobile Banking and Payments
March 3, 2011
Fiserv, Inc. has acquired Mobile Commerce Ltd. (M-Com), a mobile banking and payments provider, to enhance the Brookfield. Wis.-based financial services technology provider’s existing mobile channel capabilities. The two companies have been partners since 2008, together developing and delivering Fiserv’s mobile banking solution. As a result of the acquisition, Fiserv said it will have the ability to integrate M-Com mobile banking and payment technology into current product offerings, as well as leverage that technology for new solutions. “Technology advancements and consumer usage patterns are converging across online and mobile channels,” said, Steve Olsen, group president, Digital Payments, Fiserv. “The acquisition of M-Com will enhance our ability to provide anywhere, anytime access to consumers who want their finances at their fingertips. Together, we will deliver best-in-class digital solutions for our clients, enabling a superior user experience for their customers.” Financial terms of the acquisition were not disclosed.