Best for
Large financial institutions, government agencies, and organizations (500+ employees).
Specializes in
Fiserv delivers high-end POS systems, credit card processing, and funding for large corporations. It offers one common source capture platform for handling check deposits at all payment points: branch, regional center, and ATM.
Pricing Summary
Setup Fee:
Monthly Fee: $25
Swipe Rate: 2.69% + $0.19
Keyed-in Rate: 3.69% + $0.19
Early Termination Fee : $495
Contract Terms:
Launched in 1984, Fiserv is one of the world's largest merchant account providers, cementing its reputation with its acquisition of First Data in 2019. The company is headquartered in Wisconsin and is ran by CEO Frank Bisignano. The company's core competencies are offering competitive interchange-plus pricing and high-volume payment processing.
Fiserv provides processing solutions, remittance solutions, debit, credit, and ATM services for large financial and government institutions as per the official website.
Head Quarters
Brookfield, WI
Year Founded
1984
CEO
Frank Bisignano
Employees
44000
Merchant Provider Risk Tolerance
A full line of clover equipment is available.
Interchange plus rate is available to high volume businesses.
Extensive online knowledge base.
Domestic telephone support during business hours.
Recorded video training is available.
Early termination fee.
A monthly fee is assessed.
Expensive equipment leases.
Four year contract with liquidated damage clause.
High recurring account fees.
Fiserv lists the following services on its website:
ATM Solutions: Fiserv has experience in providing ATM payment solutions to more than 3,200 financial institutions. Besides basic transactions like cash withdrawals and balance inquiries, it also offers remote check image capture, mixed deposits, multi-language support, electronic journal upload, multi-currency, and no-envelope deposits.
ACH Solutions: The firm maintains industry-standards in ACH processing for nearly 30 years. It offers many services like automated settlement, multi-institutional processing, robust risk mitigation tools, debit authorization/protection, comprehensive return item processing, and extensive reporting. These features are ideal for handling high-volume business transactions.
Online Banking Solutions: with online banking solutions, Fiserv offers businesses convenient, secure, and simple internet banking. It enables firms to conduct online banking transactions, like viewing account balances and history, enabling transfers, canceling checks, viewing check images and retrieving electronic statements. Plus, firms can perform self-service functions on financial accounts.
Discloses All Important Terms
No
Public Pricing Available
No
Fiserv has a swiped rate of 2.69% + $0.19 and a keyed-in rate of 3.69% + $0.19. There is also a PCI-compliance fee of $19.95 as per online reviews.
Pricing Model
Interchange PlusTiered PricingFlat Rate
Swiped Rate
2.69% + $0.19
Keyed-in Rate
3.69% + $0.19
Mobile Payment Rate
Virtual Terminal Rate
Monthly Fee
$25
Payment Gateway Fee
Batch Fee
Early Termination Fee
$495
PCI Compliance Fee
$19.95/mo
Equipment Lease Terms
48-month (locked)
Address Verification Service (AVS)
Application Fee
Account Setup Fee
Gateway Setup Fee
Annual Fee
Monthly Minimum
Statement Fee
According to online reviews, Fiserv has an early termination fee (ETF) of $495 along with a 48-month locked lease period for its POS equipment.
Contract Length
Unknown
Early Termination Fee
$495
Fiserv has a profile with Better Business Bureau since 1984, and it currently boasts an A+ rating. Fiserv is not BBB-accredited, and it has a customer rating of 1 out of 5 (18 reviews). Moreover, said profile has 95 complaints to report. The breakdown consists of 50 product/service problems, 35 billing issues, 5 delivery issues, 4 sales issues, and 1 warranty problem. All complaints saw a satisfactory resolution to date.
BBB
A+ (81 Complaints)
4.2 Stars / Based on the opinion of 239 people
Yelp
2 Stars / 3 Reviews
Total Online Reviews
2,300+
Total Online Complaints
1,000+
Lawsuits
1+
If you're in the market for a merchant account provider, be sure to check out our user reviews, our merchant accounts guide and our top popular merchant provider picks