Fiserv, Inc. (NYSE: FI), a global provider of payments and financial services technology, has acquired CardFree, an all-in-one platform offering customized order, pay, and loyalty solutions for merchants. This acquisition aims to enhance the capabilities of Clover®, Fiserv’s point-of-sale solution, particularly for small businesses transitioning into larger, multi-location merchants with complex technical requirements.
CardFree’s platform will be fully integrated into both the Clover and Commerce Hub ecosystems. This integration will add capabilities such as drive-through software, kiosk and sub-inventory enablement, and provide support for third-party software integrations in loyalty, delivery services, and property management.
CardFree, founded by the team that developed the original Starbucks and Dunkin’ mobile applications, is a mobile ordering and payment platform with patented technology designed to integrate across the entire order, pay, and loyalty ecosystem. The platform integrates with nearly all point-of-sale systems and payment processors available, allowing merchants to use a single checkout process for all orders, including those from third-party delivery services.
Takis Georgakopoulos, Chief Operating Officer at Fiserv, commented on the acquisition, stating, “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.” He added that integrating CardFree’s technology into Clover enhances the platform’s scalability and flexibility, enabling hospitality businesses to drive growth through elevated customer experiences.
Jon Squire, Founder & CEO at CardFree, noted that joining Fiserv presents an opportunity for the CardFree team to advance its mission of bringing advanced restaurant and hospitality solutions to market. He expressed confidence that the collaboration uniquely positions them to address the growing needs of hospitality operators with a suite of tools designed to streamline operations and enhance guest experience. The financial terms of the transaction were not disclosed.
Fiserv, a Fortune 500 company, specializes in payments and financial technology, offering solutions in areas including account processing, digital banking, card issuer processing, payments, e-commerce, and merchant acquiring. CardFree, headquartered in San Francisco, has received recognition for its integrated solutions that aim to mobilize and enhance customer experience.
