Fiserv Acquires Skytef and Broadens Network of Strategic Partners in Brazil to More than 1,000
With the acquisition, automation partners (ISVs) gain greater operational efficiency and incorporate new services and solutions to generate more value for clients and increase revenue. The combination also expands capacity to support large clients with complex after-sales demands.
SÃO PAULO, October 11 , 2023 – Fiserv, Inc. (NYSE: FI), a global leader in payments and financial technology, announces the acquisition of Skytef, primary distributor of Software Express’s SiTef® (Solução Inteligente de Transferência Eletrônica de Fundos), from Fiserv, the leading Electronic Funds Transfer solution in Brazil.
Through the acquisition Fiserv strengthens its distribution network in the country, adding relationships with more than 600 ISV partners and approximately 27,000 merchants, bringing its total number of partners to more than 1,000. Fiserv also adds experience with Traditional Terminal, Android Point of Sale (APOS) and Multi-merchant solutions that enable terminal applications to be shared by multiple merchants using the same device.
This combination benefits Fiserv partners by enhancing operational efficiency and expanding the range of products and services that can be offered to add value to businesses.
With the integration of the two companies and the addition of new associates, Fiserv expands its capacity to support large clients with complex after-sales demands. "We want to add even more value to our clients and partners, expanding our current and future portfolio of solutions with a highly qualified team that values relationships", says Jorge Valdivia, General Manager for Brazil at Fiserv.
Fiserv wanted to work more closely with Skytef based on its broad range of capabilities across payment and commerce channels and because of its preference for exclusively offering Software Express solutions for 21 years, especially in the drugstore, foodservice and clothing sectors, among others. "Since 2002, Skytef has shown itself to be a highly capable distributor, offering our solutions strategically to all Brazilian retail verticals. By integrating Skytef into Fiserv, we will bring their best practices and commercial policies to ISV partners and merchants who are part of the Fiserv network, which includes more than 4,500 connected commercial automation solutions and 170,000 commercial establishments,” adds Valdivia.
Partners and distributors have the opportunity to increase their revenue with new products and services, such as instant payments (Pix), Carat (omnichannel payment ecosystem), acquiring and issuing processing, in addition to having a closer relationship with Fiserv with access to training and trained staff.
For the founders of Skytef, José Boldin and Sidnei Alonso, joining Fiserv in Brazil represents success. "Joining Fiserv confirms that we have been on the right track. We are combining our relationships and expertise to boost the distribution of products and services and support clients with ethics and commitment. We're confident this combination will be well received and we’re proud to join a global company that serves more than 6 million commercial establishments worldwide," says Boldin.
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. 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 the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index 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.
Released October 11, 2023