Fiserv Expands Clover Offerings for Hospitality with CardFree Acquisition

Delivering Integrated Order, Payment and Loyalty Solutions for Enterprise Merchants

MILWAUKEE & SAN FRANCISCO--(BUSINESS WIRE)--Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology, today announced it has acquired CardFree, an all-in-one platform empowering merchants with customized order, pay, and loyalty solutions. This transaction enhances the capabilities of Clover®, the world's smartest point-of-sale solution, to support small businesses as they grow into larger, multi-location merchants with complex technical needs. CardFree’s platform will be fully integrated into both the Clover and Commerce Hub ecosystems, adding capabilities such as drive-through software, kiosk and sub-inventory enablement, and providing third-party software integration support in loyalty, delivery services, and property management. The financial terms of the transaction were not disclosed.

Founded by the team that developed the original Starbucks and Dunkin’ mobile apps, CardFree is a versatile, frictionless, easy-to-use mobile ordering and payment platform with patented technology that integrates across the whole order, pay, and loyalty ecosystem. CardFree integrates with nearly all POS systems and payment processors on the market – enabling merchants to use one checkout process for all orders, including third-party delivery.

“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,” said Takis Georgakopoulos, Chief Operating Officer, Fiserv. “Integrating CardFree’s technology into Clover enhances our platform’s scalability and flexibility, empowering hospitality businesses to drive growth through elevated customer experiences.”

“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,” said Jon Squire, Founder & CEO at CardFree. “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.”

About CardFree

CardFree provides the only integrated solution to mobilize and enhance customer experience for maximum ROI. Our award-winning platform provides end-to-end services to engage consumers with offers, loyalty, ordering and payments. Headquartered in San Francisco, the company has been recognized as a “Fierce 15” company by Fierce Wireless, having the Best Mobile Merchant Platform by Frost & Sullivan, and as Best Mobile Start-up by the MEA Awards. For more information, please visit www.cardfree.com or contact [e-mail].

About Fiserv

Fiserv, Inc. (NYSE: FI), a Fortune 500 company, moves more than money. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and Clover®, the world’s smartest point-of-sale system and business management platform. Fiserv is a member of the S&P 500® Index, one of TIME Magazine’s Most Influential Companies™ and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.

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