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Business Segment Information - Narrative (Details)	3 Months Ended
Business Segment Information - Narrative (Details)	Mar. 31, 2026 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Revenue Recognition - Contract with Customer, Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Revenue from Contract with Customer [Abstract]
Contract assets	$ 915	$ 885
Contract liabilities	$ 1,087	$ 1,124

Recent Accounting Pronouncements	3 Months Ended
Recent Accounting Pronouncements	Mar. 31, 2026
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncement In 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”), which provides a practical expedient for estimating expected credit losses on current trade receivables and contract assets by assuming that current conditions persist over the life of these assets. For all entities, the provisions within ASU 2025-05 are effective for annual reporting periods beginning after December 15, 2025, and for interim reporting periods within those annual reporting periods. The provisions within ASU 2025-05 are required to be applied prospectively. The Company adopted ASU 2025-05 effective January 1, 2026, and the adoption did not have a material impact on the Company’s consolidated financial statements. Recently Issued Accounting Pronouncements In 2025, the FASB issued ASU No. 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements (“ASU 2025-09”), which is intended to more closely align hedge accounting with the economics of an entity’s risk management activities. ASU 2025-09 includes targeted improvements, primarily related to cash flow hedging, involving expanded eligibility for grouping individual forecasted transactions with similar risk exposure; the addition of an alternative model for the application of hedge accounting to cash flow hedges of interest payments on choose-your-rate debt instruments; the ability to designate a variable price component of a forecasted purchase or sale of a nonfinancial asset; and refines the guidance for net written options as hedging instruments and for a dual hedge strategy involving foreign currency denominated debt. For public entities, the provisions within ASU 2025-09 are effective for fiscal years beginning after December 15, 2026, and for interim reporting periods within those fiscal years. The provisions within ASU 2025-09 are required to be applied prospectively. The Company is currently assessing the impact the adoption of ASU 2025-09 may have on its consolidated financial statements and disclosures. In 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. Under ASU 2024-03, entities will be required to disaggregate information, in tabular format, about specific natural expense categories underlying certain income statement expense line items that are considered ‘relevant’, such as purchases of inventory, employee compensation, depreciation, and intangible asset amortization. Additionally, ASU 2024-03 requires the disclosure of selling expenses, along with how an entity defines such expenses. For public entities, the provisions within ASU 2024-03 (as further clarified through ASU No. 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)) are effective for the first annual reporting period beginning after December 15, 2026, and for interim reporting periods within annual reporting periods beginning after December 15, 2027. The provisions within ASU 2024-03 are required to be applied prospectively; however, such provisions may be applied retrospectively for all comparative periods following the effective date. The Company is currently assessing the impact the adoption of ASU 2024-03 will have on its consolidated financial statement disclosures. In 2025, the FASB issued ASU No. 2025-06, Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”), to modernize the accounting guidance for costs to develop software for internal use. ASU 2025-06 amends the existing standard that refers to various stages of a software development project to better align with current software development methods, such as agile programming. Under ASU 2025-06, cost capitalization begins when management has authorized and committed to funding the project, and it is probable the project will be completed and the software will be used to perform its intended function. For all entities, the provisions within ASU 2025-06 are effective for fiscal years beginning after December 15, 2027, and for interim reporting periods within those fiscal years. The provisions within ASU 2025-06 can be applied either retrospectively through a cumulative-effect adjustment, prospectively to software costs incurred after the adoption date (on existing, in-process software projects or new projects), or on a modified prospective basis. The Company is currently assessing the impact the adoption of ASU 2025-06 will have on its consolidated financial statements and disclosures. In 2025, the FASB issued ASU No. 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities (“ASU 2025-10”), which amends Topic 832 to provide specific guidance on the recognition, measurement, presentation and disclosure of government grants received by business entities, including both monetary and certain non-monetary grants. For public entities, the provisions within ASU 2025-10 are effective for annual and interim periods beginning after December 15, 2028, with early adoption permitted. The provisions within ASU 2025-10 can be applied either on a modified prospective, modified retrospective, or on a retrospective approach through a cumulative-effect adjustment. The Company is currently assessing the impact the adoption of ASU 2025-10 will have on its consolidated financial statements and disclosures.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Basis of Presentation and Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

Basis of Presentation

The consolidated financial statements for the three months ended March 31, 2026 and 2025 are unaudited. In the opinion of management, all adjustments necessary for a fair presentation of the consolidated financial statements have been included. Such adjustments consisted of normal recurring items. Interim results are not necessarily indicative of results for a full year. The consolidated financial statements and accompanying notes are presented as permitted by Form 10-Q and do not contain certain information included in the annual consolidated financial statements and accompanying notes of Fiserv, Inc. (the “Company”). These interim consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

Principles of Consolidation

The consolidated financial statements include the accounts of Fiserv, Inc. and its subsidiaries in which the Company holds a majority controlling financial interest. All intercompany transactions and balances between the Company and its subsidiaries have been eliminated in consolidation. Control is typically established when ownership and voting interests in an entity are greater than 50%. Investments in which the Company has significant influence but not control are accounted for using the equity method of accounting, for which the Company’s share of net income or loss is reported within income (loss) from investments in unconsolidated affiliates, and the related tax expense or benefit is reported within the income tax provision in the consolidated statements of income. Significant influence over an affiliate’s operations generally coincides with an ownership interest of between 20% and 50%; for partnerships and limited liability companies, an ownership interest of between 3% and 50%; or board of director representation may also constitute significant influence.

Noncontrolling interests in entities of which the Company maintains a majority controlling financial interest represent the minority shareholders’ share of the net income or loss and equity in consolidated subsidiaries and are presented as a separate line item within the consolidated statements of income and as a component of equity in the consolidated balance sheets.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S.”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash and investments with original maturities of 90 days or less and are stated at cost in the consolidated balance sheets, which approximates market value. Cash and cash equivalents held on behalf of merchants and other payees are included in settlement assets in the consolidated balance sheets. The changes in settlement cash and cash equivalents are included in settlement activity, net within cash flows from financing activities in the consolidated statements of cash flows. Cash and cash equivalents that are restricted from use due to contractual or legal restrictions are included in other long-term assets in the consolidated balance sheets.

The following table provides a reconciliation between cash and cash equivalents on the consolidated balance sheets and the consolidated statements of cash flows:


(In millions)	March 31, 2026		December 31, 2025		March 31, 2025
Cash and cash equivalents on the consolidated balance sheets	$	829	$	798	$	1,177
Cash and cash equivalents included in settlement assets	1,400		1,978		2,190
Restricted cash	21		26		2
Total cash and cash equivalents on the consolidated statements of cash flows	$	2,250	$	2,802	$	3,369

Allowance for Doubtful Accounts

The Company analyzes the collectability of trade accounts receivable by considering historical bad debts and issued client credits, client creditworthiness, current economic trends, changes in client payment terms and collection trends when evaluating the adequacy of the allowance for doubtful accounts. Any change in the assumptions used in analyzing a specific account receivable may result in an additional allowance for doubtful accounts being recognized in the period in which the change occurs. The allowance for doubtful accounts was $91 million and $84 million at March 31, 2026 and December 31, 2025, respectively.

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:


(In millions)	March 31, 2026		December 31, 2025
Prepaid maintenance, postage and insurance	$	437	$	334


Other prepaid expenses	278		269
Total prepaid expenses (1)	715		603

Income tax receivables (2)	121		148
Net merchant cash advances, including Clover Capital program	560		564
Settlement anticipation cash advances	1,200		1,223
Other current assets	815		858
Total other current assets	2,696		2,793
Total prepaid expenses and other current assets	$	3,411	$	3,396

(1)Prepaid expenses represent advance payments for goods and services to be consumed in the future.

(2)Includes receivables associated with transferable federal tax credits (see Note 14).

The Company offers merchants advance access to capital, primarily through its Clover Capital program. Under this program, merchants sell fixed amounts of their future credit card receivables to the Company in exchange for an up-front purchase price payment. Future credit card receivables purchased by the Company under its merchant cash advance programs, including Clover Capital, were $595 million and $598 million at March 31, 2026 and December 31, 2025, respectively. The Company maintained a reserve of $35 million and $34 million at March 31, 2026 and December 31, 2025, respectively, based on an estimate of uncollectible amounts. For the three months ended March 31, 2026, merchant cash advances, which are generally collected over a period of six to twelve months, are presented on a gross basis within investing activities in the consolidated statement of cash flows. For the three months ended March 31, 2025, merchant cash advances were presented on a net basis, along with settlement anticipation cash advances as described below, within investing activities in the consolidated statement of cash flows.

The Company also offers merchants within its international operations advance access to capital through its settlement anticipation program. Under this program, the Company provides merchants the opportunity to receive settlement cash payments in advance in exchange for their receivables from card issuers, including when cardholders have elected to pay over time in installments. These local currency denominated arrangements are primarily associated with the Company’s operations in Latin America, the most significant of which are denominated in Argentine Peso and Brazilian Real. Settlement anticipation cash advances, the majority of which are collected within 30 days, are presented on a net basis within investing activities in the consolidated statements of cash flows.

Settlement Assets and Obligations

Settlement assets and obligations represent intermediary balances arising from the settlement process, which involves the transfer of funds among card issuers, payment networks, processors, merchants and consumers, and collateral amounts held to manage merchant credit risk, primarily associated with the Company’s merchant acquiring services. As a processor, the Company facilitates the clearing and settlement activity for the merchant and records settlement assets and obligations upon processing a payment transaction. Settlement assets represent cash received or amounts receivable from agents, payment networks, bank partners, merchants or direct consumers. Settlement obligations represent amounts payable to merchants and payees.

Certain merchant settlement assets (included within settlement receivables) that relate to settlement obligations are held by partner banks. Although the Company does not have legal ownership of these assets, it has the right to use them to satisfy the

related settlement obligations. The Company records settlement obligations for amounts payable to merchants and for outstanding payment instruments issued to payees that have not yet been presented for settlement.

Allowance for Merchant Credit Losses

With respect to the Company’s merchant acquiring business, the Company’s merchant customers have the legal obligation to refund any charges properly reversed by the cardholder. However, in the event the Company is not able to collect the refunded amounts from the merchants, the Company may be liable for the reversed charges. The Company’s risk in this area primarily relates to situations where a cardholder has purchased goods or services to be delivered in the future. The Company requires cash deposits, guarantees, letters of credit or other types of collateral from certain merchants to mitigate this risk. Collateral held by the Company, or held by partner banks for the Company’s benefit, is classified within settlement assets, and the obligation to repay the collateral is classified within settlement obligations in the consolidated balance sheets. The amount of merchant collateral available to the Company was $568 million and $588 million at March 31, 2026 and December 31, 2025, respectively. The Company also utilizes a number of systems and procedures to manage merchant credit risk. Despite these efforts, the Company experiences losses due to merchant defaults. The aggregate merchant credit loss expense, recognized by the Company within cost of processing and services in the consolidated statements of income, was $34 million and $28 million for the three months ended March 31, 2026 and 2025, respectively.

The Company maintains an allowance for merchant credit losses that are expected to exceed the amount of merchant collateral. The allowance includes estimated losses from anticipated chargebacks and fraud events that have been incurred on merchant payment transactions that have been processed but not yet reported to the Company, which is recorded within accounts payable and other current liabilities in the consolidated balance sheets, as well as estimated losses on refunded amounts to cardholders that have not yet been collected from the merchants, which is recorded within prepaid expenses and other current assets in the consolidated balance sheets. The allowance is based primarily on the Company’s historical experience of credit losses and other factors such as changes in economic conditions or increases in merchant fraud. The aggregate merchant credit loss allowance was $51 million and $46 million at March 31, 2026 and December 31, 2025, respectively.

Property and Equipment

Property and equipment is reported at cost. Depreciation of property and equipment is computed primarily using the straight-line method over the shorter of the estimated useful life of the asset or the leasehold period, if applicable. During the three months ended March 31, 2026, the Company entered into sale leaseback arrangements for certain of its facilities for an aggregate net sales price of $201 million. The sale of these facilities in the first quarter of 2026 resulted in an aggregate gain of $83 million recorded within net gain on sale of assets in the consolidated statement of income. The leasebacks of these facilities are classified as operating leases and are recorded as right-of-use assets and lease liabilities in the consolidated balance sheet.

Goodwill

Goodwill represents the excess of purchase price over the fair value of identifiable assets acquired and liabilities assumed in a business combination. The Company evaluates goodwill for impairment on an annual basis, or more frequently if circumstances indicate possible impairment. Goodwill is tested for impairment at a reporting unit level, which is one level below the Company’s operating segments.

During its annual impairment assessment as of October 1, 2025, the Company performed a quantitative test for each of its reporting units and determined that its goodwill was not impaired as the estimated fair values exceeded the respective carrying values for each of the Company’s reporting units. Subsequently, the Company determined that a triggering event occurred during the fourth quarter of 2025 due to a sustained decline in its stock price, and therefore performed an additional quantitative goodwill impairment test for all reporting units as of December 31, 2025. The Company determined that its goodwill was not impaired as of December 31, 2025 as the estimated fair values exceeded the respective carrying values for each of the Company’s reporting units. At December 31, 2025, fair values exceeded carrying values by less than 15% for eight of the Company’s reporting units with an aggregate goodwill balance of $18.5 billion.

The Company determined that there have been no material events or changes during the first quarter of 2026 that would impact the estimates and assumptions used in the goodwill impairment test as of December 31, 2025. However, it is reasonably possible that future developments related to changes in forecasted revenue growth rates or operating margins; the interest or currency exchange rate environments; a shift in strategic initiatives; a deterioration in financial performance within a particular reporting unit; sustained decreases in the Company’s stock price; or significant changes in the composition of, or assumptions used in, the quantitative test for certain of the Company’s reporting units (such as an increase in risk-adjusted discount rates) could have a material impact on one or more of the estimates and assumptions used to evaluate goodwill impairment in subsequent periods. There is no accumulated goodwill impairment for the Company through March 31, 2026.

Foreign Currency

The U.S. dollar is the functional currency of the Company’s U.S.-based and certain foreign-based businesses. Where the functional currency of subsidiaries differs from the U.S. dollar, assets and liabilities are translated into U.S. dollars at the exchange rates in effect at the balance sheet date. Revenue and expenses are translated at the average exchange rates during the reporting period. Gains and losses from foreign currency translation are recorded as a separate component of accumulated other comprehensive loss. Gains and losses from foreign currency transactions are included in determining net income for the reporting period.

Financial statements of subsidiaries located in highly inflationary economies outside of the U.S. are remeasured into U.S. dollars, and the foreign currency gains and losses from the remeasurement of monetary assets and liabilities are reflected in the consolidated statements of income, rather than as foreign currency translation within accumulated other comprehensive loss in the consolidated balance sheets. The remeasurement of monetary assets and liabilities in highly inflationary economies, including Argentina, resulted in foreign currency exchange gains (losses) of $21 million and $(18) million for the three months ended March 31, 2026 and 2025, respectively, which is included within other income (expense), net in the consolidated statements of income.

To reduce exposure to changes in the value of the Company’s net investments in certain of its foreign currency-denominated subsidiaries due to changes in foreign currency exchange rates, the Company uses fixed-to-fixed cross-currency rate swap contracts and foreign currency-denominated debt as economic hedges of its net investments in such foreign currency-denominated subsidiaries. Foreign currency transaction gains or losses on the qualifying net investment hedge instruments are recorded as foreign currency translation, net of tax, within other comprehensive income (loss) in the consolidated statements of comprehensive income and will remain in accumulated other comprehensive loss within the consolidated balance sheets until the sale or complete liquidation of the underlying foreign currency-denominated subsidiaries.

Derivatives

Derivatives are entered into for periods consistent with related underlying exposures and are recorded in the consolidated balance sheets as either an asset or liability measured at fair value. If the derivative is designated as a cash flow hedge, changes in the fair value of the derivative are recorded as a component of accumulated other comprehensive loss and recognized in the consolidated statements of income when the hedged item affects earnings. If the derivative is designated as a net investment hedge, changes in the fair value of the derivative, net of tax, are recorded in the foreign currency translation component of other comprehensive income (loss) until the sale or complete liquidation of the underlying net investment. If the derivative is designated as a fair value hedge, changes in the fair value of the derivative are recorded in the same line item as the changes in the fair value of the hedged item and recognized in the consolidated statements of income. To the extent a derivative is not designated as a hedge, changes in fair value are recognized in the consolidated statements of income. The Company’s policy is to enter into derivatives as economic hedges with creditworthy institutions to limit exposure to changing interest rates and foreign currency rate fluctuations, and not to enter into such derivatives for speculative purposes. Additional information regarding the Company’s derivatives and hedging instruments is included in Note 7 to the consolidated financial statements.

Redeemable Noncontrolling Interest

The minority partner in one of the Company’s merchant alliance joint ventures previously maintained a redeemable noncontrolling 1% interest which was presented outside of equity and carried at its estimated redemption value. The minority partner was entitled to a contractually determined share of the entity’s income, and the joint venture agreement contained redemption features whereby the interest held by the minority partner was redeemable either (i) at the option of the holder or (ii) upon the occurrence of an event that was not solely within the Company’s control.

Effective June 2024, the Company and the merchant alliance joint venture minority partner mutually agreed to terminate the joint venture agreement on September 1, 2024. Under the provisions of the separation agreement, the Company redeemed the minority partner’s membership interest in exchange for a future distribution of certain merchant contracts. The distribution of certain merchant contracts for the redemption of the minority partner’s membership interest was settled in the third quarter of 2025, resulting in a gain of $89 million recorded within net gain on sale of assets in the consolidated statement of income. There was no associated tax impact on this gain. The Company maintains an ongoing relationship with the former minority partner to provide processing and other support services following the termination of the joint venture agreement.

Interest Expense, Net

Interest expense, net consists of interest expense primarily associated with the Company’s outstanding borrowings and finance lease obligations, as well as interest income primarily associated with the Company’s investment securities. Interest expense, net consisted of the following:


	Three Months Ended March 31,
(In millions)	2026		2025
Interest expense	$	(361)	$	(339)
Interest income	14		8
Interest expense, net	$	(347)	$	(331)

Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	$ 25,809	$ 27,686
Total other comprehensive (loss) income	(50)	243
Balance at end of period	26,221	26,521
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(984)	(1,413)
Other comprehensive income (loss) before reclassifications	(57)	222
Amounts reclassified from accumulated other comprehensive loss	6	4
Total other comprehensive (loss) income	(51)	226
Balance at end of period	(1,035)	(1,187)
Derivatives
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(71)	(79)
Other comprehensive income (loss) before reclassifications	(13)	2
Amounts reclassified from accumulated other comprehensive loss	6	4
Total other comprehensive (loss) income	(7)	6
Balance at end of period	(78)	(73)
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(908)	(1,327)
Other comprehensive income (loss) before reclassifications	(44)	220
Amounts reclassified from accumulated other comprehensive loss	0	0
Total other comprehensive (loss) income	(44)	220
Balance at end of period	(952)	(1,107)
Pension Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(5)	(7)
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive loss	0	0
Total other comprehensive (loss) income	0	0
Balance at end of period	$ (5)	$ (7)

- Definition

Amount after tax, before reclassification adjustments of other comprehensive income (loss).

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+ Details

Shares Used in Computing Net Income Per Share Attributable to Fiserv, Inc. - Narrative (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Earnings Per Share [Abstract]
Stock options excluded from the calculation of diluted weighted-average outstanding shares because their impact was anti-dilutive (in shares)	5,300	688

Revenue Recognition - Revenue Recognized (Details) $ in Millions	3 Months Ended
	Mar. 31, 2026 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue recognized which was included in the contract liability balance	$ 322

Derivatives and Hedging Instruments

3 Months Ended

Mar. 31, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging Instruments

In order to limit exposure to risk, the Company maintains derivative instruments with creditworthy institutions to hedge against changing interest rates and foreign currency rate fluctuations. The Company utilizes forward exchange contracts, fixed-to-fixed cross-currency rate swap contracts, fixed-to-floating interest rate swap contracts and other non-derivative hedging instruments to manage such risk. The Company has designated these instruments as cash flow hedges, net investment hedges, or fair value hedges, as further described below. Derivative instruments maintained by the Company are measured on a recurring basis and are recorded at fair value either as an asset or liability in the consolidated balance sheets (see Note 8).

Cash Flow Hedges

The Company maintains forward exchange contracts, designated as cash flow hedges, to hedge foreign currency exposure to the Indian Rupee. The notional amount of these derivatives was $381 million and $323 million at March 31, 2026 and December 31, 2025, respectively. Based on the amounts recorded in accumulated other comprehensive loss at March 31, 2026, the Company estimates that it will recognize losses of approximately $19 million in cost of processing and services during the next 12 months as foreign exchange forward contracts settle.

The Company previously entered into treasury lock agreements (“Treasury Locks”), designated as cash flow hedges, to manage exposure to fluctuations in benchmark interest rates in anticipation of the issuance of fixed rate debt in connection with the acquisition and refinancing of certain indebtedness of First Data Corporation and its subsidiaries. In 2019, concurrent with the issuance of U.S. dollar-denominated senior notes, the Treasury Locks were settled resulting in a loss, net of income taxes, and recorded in accumulated other comprehensive loss that is being amortized to earnings over the terms of the originally forecast interest payments. The unamortized balance recorded in accumulated other comprehensive loss related to the Treasury Locks was $85 million and $88 million at March 31, 2026 and December 31, 2025, respectively. Based on the amounts recorded in accumulated other comprehensive loss at March 31, 2026, the Company estimates that it will recognize approximately $12 million in net interest expense during the next 12 months related to settled interest rate hedge contracts.

Net Investment Hedges

The aggregate notional amount of the fixed-to-fixed cross-currency rate swap contracts were as follows:


(In millions)	March 31, 2026	December 31, 2025
Currency
Euros	940	940
Singapore Dollars	828	828
Canadian Dollars	405	405

These fixed-to-fixed cross-currency rate swaps have been designated as net investment hedges to hedge a portion of the Company’s net investment in certain subsidiaries whose functional currencies are the Euro, Singapore Dollar, and Canadian Dollar. The Company has also designated certain of its Euro- and British Pound-denominated senior notes and Euro commercial paper notes as net investment hedges to hedge a portion of its net investment in certain subsidiaries whose functional currencies are the Euro and the British Pound.

Foreign currency transaction gains or losses on the qualifying net investment hedge instruments are recorded as foreign currency translation within other comprehensive income (loss) in the consolidated statements of comprehensive income and will remain in accumulated other comprehensive loss in the consolidated balance sheets until the sale or complete liquidation of the underlying foreign currency-denominated subsidiaries.

Foreign currency transaction gains (losses), net of income tax, related to net investment hedges that were recorded as foreign currency translation within other comprehensive income (loss) in the consolidated statements of comprehensive income were as follows:


	Three Months Ended March 31,
(In millions)	2026		2025
Cross-currency rate swap contracts	$	15	$	(21)
Foreign currency-denominated debt	63		(97)

The Company recorded income tax impacts of $(26) million and $40 million during the three months ended March 31, 2026 and 2025, respectively, in other comprehensive income (loss) from the translation of foreign currency-denominated senior notes, Euro commercial paper notes and fixed-to-fixed cross-currency rate swap contracts.

Fair Value Hedges

The Company maintains fixed-to-floating interest rate swap contracts in the aggregate notional amount of $775 million, designated as fair value hedges, to economically change a portion of its fixed rate senior notes to variable rate debt. Net changes in the fair value of the fixed-to-floating rate swaps ($1 million loss for the three months ended March 31, 2026), along with the

offsetting change in the fair value of the hedged senior notes, attributable to changes in the designated benchmark interest rate, were recognized in interest expense, net within the consolidated statement of income.

The notional amounts of the hedged fixed rate senior notes were as follows:


(In millions)	March 31, 2026		December 31, 2025
Hedged Notes
5.150% senior notes due August 2034	$	250	$	—
5.250% senior notes due August 2035	525		—

Subsequent to March 31, 2026, the Company entered into additional fixed-to-floating interest rate swap contracts in the aggregate notional amount of $725 million, which were designated as fair value hedges, to economically change an additional portion of its fixed rate senior notes to variable rate debt.

The Company previously maintained a fixed-to-fixed cross-currency rate swap contract in the notional amount of 525 million British Pounds, designated as a fair value hedge, to mitigate the spot foreign exchange rate risk on the principal amount of its British Pound-denominated 2.250% senior notes, which matured in July 2025. Net changes in the fair value of the cross-currency rate swaps ($20 million gain for the three months ended March 31, 2025), along with the offsetting change in the fair value of the hedged notes, attributable to fluctuations in the respective foreign currency spot rates were recognized in other income (expense), net within the consolidated statement of income.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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+ Details

Business Segment Information

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Business Segment Information

The Company’s operations are comprised of two reportable segments, the Merchant segment and the Financial segment. The businesses in the Merchant segment provide commerce-enabling products and services to companies of all sizes around the world. These products and services include merchant acquiring and digital commerce services; mobile payment services; security and fraud protection solutions; stored-value solutions; and pay-by-bank solutions. The business lines (operating segments) aggregated within the Merchant segment consist of the following:

•Small Business – provides products and services to small businesses and independent software vendors, including Clover®, the Company’s POS and business management platform for small business clients

•Enterprise – provides products and services to large businesses, including the Company’s integrated omnichannel operating system for enterprise clients

•Processing – provides products and services to financial institutions, joint ventures, and other third party resellers which have direct relationships with merchants

The Company distributes the products and services in the Merchant segment businesses through a variety of channels, including direct sales teams, strategic partnerships with agent sales forces, independent software vendors, financial institutions and other strategic partners in the form of joint venture alliances, revenue sharing alliances and referral agreements.

The businesses in the Financial segment provide products and services to financial institution, corporate and public sector clients across the world, enabling the processing of customer loan and deposit accounts, digital payments and card transactions. The business lines (operating segments) aggregated within the Financial segment consist of the following:

•Digital Payments – provides debit card processing services; debit network services; security and fraud protection products; bill payment; person-to-person payments; and account-to-account transfers

•Issuing – provides credit card processing services; prepaid card processing services; card production services; print services; government payment processing; and student loan processing

•Banking – provides customer loan and deposit account processing; digital banking; financial and risk management; professional services and consulting; and check processing

Corporate and Other supports the reportable segments described above, and consists of amortization of acquisition-related intangible assets, unallocated corporate expenses and other activities that are not considered when management evaluates segment performance, such as gains or losses on sales of businesses, certain assets or investments; costs associated with acquisition activity; certain services revenue associated with various dispositions; expenses associated with the Company’s One Fiserv transformation initiative; and postage reimbursements. The Company’s One Fiserv action plan is a comprehensive, strategic initiative aimed to enhance client service, accelerate product development, address operational inefficiencies, and optimize capital management.

The Company’s Chief Executive Officer, who is also the Company’s chief operating decision maker (“CODM”), assesses segment performance and makes strategic decisions on the allocation of resources. Additionally, the Company’s Chief Executive Officer provides oversight on business leadership and corporate strategy to the executive leadership team, who manages the day to day operations of the various business lines.

The CODM uses reportable segment operating income to evaluate segment performance and allocate resources, primarily during the annual budget and forecasting processes. The CODM regularly reviews variances between forecasted and actual results in assessing earnings, operational efficiency and growth performance, and allocating resources including personnel and capital allocations, to each reportable segment. There are no intersegment revenues contained within the respective reportable segment revenues.

Operating results for each reportable segment were as follows:


	Reportable Segments
(In millions)	Merchant		Financial		Total
Three Months Ended March 31, 2026
Revenues:
Processing and services revenue	$	2,108	$	1,962
Product revenue	265		340
Reportable segment revenue	$	2,373	$	2,302	$	4,675
Corporate and Other revenue (1)					352
Total Company revenue					$	5,027
Expenses:
Personnel expenses (2)	362		543
Direct costs (3)	868		176
Depreciation and amortization expense	125		135
Other operating expense (4)	197		125
Allocations from Corporate and Other (5)	195		446

Reportable segment operating income	$	626	$	877	$	1,503
Corporate and Other operating loss (6)					(585)

Interest expense, net					(347)
Other income, net (7)					22
Income before income taxes and income from investments in unconsolidated affiliates					$	593


	Reportable Segments
(In millions)	Merchant		Financial		Total





















Three Months Ended March 31, 2025
Revenues:
Processing and services revenue	$	2,053	$	1,992
Product revenue	319		425
Reportable segment revenue	$	2,372	$	2,417	$	4,789
Corporate and Other revenue (1)					341
Total Company revenue					$	5,130
Expenses:
Personnel expenses (2)	330		498
Direct costs (3)	823		189
Depreciation and amortization expense	96		122
Other operating expense (4)	147		88
Allocations from Corporate and Other (5)	166		372

Reportable segment operating income	$	810	$	1,148	$	1,958
Corporate and Other operating loss (6)					(563)

Interest expense, net					(331)
Other expense, net (7)					(18)
Income before income taxes and loss from investments in unconsolidated affiliates					$	1,046

(1)Primarily includes postage reimbursements.

(2)Includes compensation and benefit costs of Company employees, as well as expenses paid to third parties for consulting and temporary help, net of capitalized software costs.

(3)Includes cost of goods sold, payments to distribution partners and other reselling costs.

(4)Includes data processing, facility, and marketing costs that are directly charged to the reportable segments.

(5)Represents centrally-managed costs, including sales, technology and administrative expenses, that are allocated to the reportable segments from Corporate and Other and are considered in the CODM’s evaluation of segment performance.

(6)Includes amortization of acquisition-related intangible assets; costs associated with acquisition activity; unallocated corporate expenses; expenses associated with the Company’s One Fiserv transformation initiative; and gains or losses on sale of assets.

(7)Includes foreign currency transaction gains and losses, gains or losses from a sale or change in fair value of investments in certain equity securities, and amounts related to debt guarantee arrangements of certain equity method investments.

Other significant items include:


	Three Months Ended March 31,
(In millions)	2026		2025
Depreciation and amortization:
Merchant (1)	$	142	$	112
Financial (1)	177		163
Corporate and Other (2)	512		504
Total Company	$	831	$	779

Capital expenditures, including capitalized software and other intangibles:
Merchant	$	151	$	95
Financial	193		145
Corporate and Other	114		95
Total Company	$	458	$	335

(1)Includes amortization associated with commissions, residual buyouts and deferred conversion/implementation costs included within personnel expenses, direct costs and other operating expenses, respectively, in the segment operating results tables above.

(2)Primarily includes amortization of acquisition-related intangible assets, such as customer relationships, software/technology and trade names.

The Company does not evaluate the performance of or allocate resources to its reportable segments using asset data.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 21
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 7: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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Reference 12: http://www.xbrl.org/2003/role/exampleRef
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Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
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-Subparagraph (c)
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-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 14: http://www.xbrl.org/2003/role/exampleRef
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Reference 15: http://www.xbrl.org/2003/role/exampleRef
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Reference 16: http://www.xbrl.org/2003/role/exampleRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of intangible assets by class

Identifiable intangible assets consisted of the following:


(In millions)	Gross Carrying Amount		Accumulated Amortization		Net Book Value
March 31, 2026
Customer relationships	$	14,707	$	9,879	$	4,828
Acquired software and technology	2,189		1,447		742
Trade names	621		468		153
Purchased software	1,435		413		1,022
Capitalized software and other intangibles	5,236		1,999		3,237
Total	$	24,188	$	14,206	$	9,982

December 31, 2025
Customer relationships	$	14,773	$	9,680	$	5,093
Acquired software and technology	2,150		1,356		794
Trade names	633		458		175
Purchased software	1,397		441		956
Capitalized software and other intangibles	5,040		1,897		3,143
Total	$	23,993	$	13,832	$	10,161

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details)	3 Months Ended			12 Months Ended
	Mar. 31, 2026 USD ($) noncontrolling_interest	Dec. 31, 2025 USD ($)	Mar. 31, 2025 USD ($)	Dec. 31, 2025 USD ($) reporting_unit
Business Combination [Line Items]
Allowance for doubtful accounts	$ 91,000,000	$ 84,000,000		$ 84,000,000
Proceeds from sale of property, plant, and equipment	201,000,000
Gain (loss) on disposition of property plant equipment	83,000,000
Goodwill, impairment loss		$ 0		$ 0
Reporting unit, percentage of fair value in excess of carrying amount		15.00%		15.00%
Number of reporting units \| reporting_unit				8
Reporting unit, fair value in excess of carrying amount, allocated amount of goodwill		$ 18,500,000,000		$ 18,500,000,000
Goodwill, accumulated impairment loss	0
Foreign currency translation gain (loss)	(21,000,000)		$ 18,000,000
Change in estimated redemption value of redeemable noncontrolling interest (see Note 11)	$ 89,000,000
First Data Joint Venture
Business Combination [Line Items]
Ownership percentage by noncontrolling owner	1.00%
First Data
Business Combination [Line Items]
Number of redeemable noncontrolling interests \| noncontrolling_interest	1
Merchants Utilizing Clover Capital Cash Advance Program
Business Combination [Line Items]
Cash advances	$ 595,000,000	598,000,000		598,000,000
Allowance for credit loss, current	35,000,000	34,000,000		34,000,000
Merchant credit losses
Business Combination [Line Items]
Collateral held	568,000,000	588,000,000		588,000,000
Aggregate merchant credit loss expense	34,000,000		$ 28,000,000
Loss contingency accrual	$ 51,000,000	$ 46,000,000		$ 46,000,000

Equity (Tables)

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Schedule of stockholders equity

The following tables provide changes in equity during the three months ended March 31, 2026 and 2025:


	Fiserv, Inc. Shareholders’ Equity

Three Months Ended March 31, 2026	Number of Shares		Amount
(In millions)	Common Shares	Treasury Shares	Common Stock		Additional Paid-In Capital		Accumulated Other Comprehensive Loss		Retained Earnings		Treasury Stock		Noncontrolling Interests		Total Equity

Balance at December 31, 2025	784	250	$	8	$	23,260	$	(984)	$	27,055	$	(23,547)	$	17	$	25,809
Net income									571				2		573


Other comprehensive income							(51)						1		(50)
Share-based compensation					118										118
Shares issued under stock plans		(2)			(167)						138				(29)
Purchases of treasury stock		3									(200)				(200)


Balance at March 31, 2026	784	251	$	8	$	23,211	$	(1,035)	$	27,626	$	(23,609)	$	20	$	26,221


	Fiserv, Inc. Shareholders’ Equity

Three Months Ended March 31, 2025	Number of Shares		Amount
(In millions)	Common Shares	Treasury Shares	Common Stock		Additional Paid-In Capital		Accumulated Other Comprehensive Loss		Retained Earnings		Treasury Stock				Total Equity
													Noncontrolling Interests
Balance at December 31, 2024	784	220	$	8	$	23,080	$	(1,413)	$	23,575	$	(18,182)	$	618	$	27,686
Net income									851				(3)		848


Other comprehensive income							226						17		243
Share-based compensation					124										124
Shares issued under stock plans		(2)			(383)						162				(221)
Purchases of treasury stock		10									(2,164)				(2,164)
Capital contribution from noncontrolling interest													5		5
Balance at March 31, 2025	784	228	$	8	$	22,821	$	(1,187)	$	24,426	$	(20,184)	$	637	$	26,521

Cash Flow Information (Tables)

3 Months Ended

Mar. 31, 2026

Supplemental Cash Flow Elements [Abstract]

Schedule of supplemental cash flow information

Supplemental cash flow information consisted of the following:


	Three Months Ended March 31,
(In millions)	2026		2025
Interest paid	$	487	$	454
Net income taxes paid, including transferable federal tax credits	761		727
Treasury stock purchases settled after the balance sheet date	—		39

Software obtained under financing arrangements	103		513
Hardware obtained under financing arrangements	—		70
Right-of-use assets obtained in exchange for lease liabilities - operating leases	160		23
Right-of-use assets obtained in exchange for lease liabilities - finance leases	309		214

Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Summary of restricted stock and performance activity

A summary of restricted stock unit and performance share unit activity during the three months ended March 31, 2026 is as follows:


	Restricted Stock Units			Performance Share Units
	Shares (In thousands)	Weighted-Average Grant Date Fair Value		Shares (In thousands)	Weighted-Average Grant Date Fair Value
Units - December 31, 2025	3,890	$	156.58	2,251	$	138.57

Granted	7,380	64.47		1,109	67.53
Forfeited	(124)	130.68		(127)	176.17
Vested	(1,743)	147.36		(153)	160.86
Units - March 31, 2026	9,403	$	86.24	3,080	$	110.11

Summary of stock option activity

A summary of stock option activity during the three months ended March 31, 2026 is as follows:


	Shares (In thousands)	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In millions)
Stock options outstanding - December 31, 2025	759	$	90.84


Forfeited	(4)	81.92
Exercised	(36)	47.06
Stock options outstanding - March 31, 2026	719	$	93.06	3.18	$	—
Stock options exercisable - March 31, 2026	719	$	93.06	3.18	$	—

Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Changes in accumulated other comprehensive loss by component, net of income taxes

Changes in accumulated other comprehensive loss by component, net of income taxes, consisted of the following:


(In millions)	Derivatives		Foreign Currency Translation		Pension Plans		Total
Three Months Ended March 31, 2026
Balance at December 31, 2025	$	(71)	$	(908)	$	(5)	$	(984)
Other comprehensive loss before reclassifications	(13)		(44)		—		(57)
Amounts reclassified from accumulated other comprehensive loss	6		—		—		6
Net current-period other comprehensive income	(7)		(44)		—		(51)
Balance at March 31, 2026	$	(78)	$	(952)	$	(5)	$	(1,035)

Three Months Ended March 31, 2025
Balance at December 31, 2024	$	(79)	$	(1,327)	$	(7)	$	(1,413)
Other comprehensive income before reclassifications	2		220		—		222
Amounts reclassified from accumulated other comprehensive loss	4		—		—		4
Net current-period other comprehensive income	6		220		—		226



Balance at March 31, 2025	$	(73)	$	(1,107)	$	(7)	$	(1,187)

Revenue Recognition

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Revenue Recognition

The Company generates revenue from the delivery of processing, service and product solutions. Revenue is measured based on consideration specified in a contract with a customer, and excludes any amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer which may be at a point in time or over time.

Disaggregation of Revenue

The Company’s operations are comprised of the Merchant Solutions (“Merchant”) and the Financial Solutions (“Financial”) reportable segments (see Note 18). The table below presents the Company’s revenue disaggregated by business line and includes a reconciliation with its reportable segments. The Company serves its global client base by working among its geographic teams across various regions, including the U.S. and Canada; Europe, Middle East and Africa (“EMEA”); Latin America (“LATAM”); and Asia Pacific (“APAC”). The majority of the Company’s revenue is earned in the U.S., with revenue generated within its EMEA, LATAM and APAC regions comprising approximately 16% and 14% of total revenue for the three months ended March 31, 2026 and 2025, respectively.


(In millions)	Three Months Ended March 31,
Revenue by Business Line	2026		2025
Small Business	$	1,609	$	1,594
Enterprise	512		502
Processing	252		276
Total Merchant Solutions segment revenue	$	2,373	$	2,372
Digital Payments	$	947	$	995
Issuing	769		814
Banking	586		608
Total Financial Solutions segment revenue	$	2,302	$	2,417
Corporate and Other	$	352	$	341
Total Revenue (1)	$	5,027	$	5,130

(1)Total revenue includes $324 million and $331 million for the three months ended March 31, 2026 and 2025, respectively, which represent revenue recognized outside the scope of Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”). Such revenue primarily consists of interest-related income earned on merchant and settlement anticipation cash advances, on short-term investments of subscriber funds and intermediary settlement cash balances, and lease income associated with point-of-sale (“POS”) terminal equipment.

Contract Balances

The following table provides information about contract assets and contract liabilities from contracts with customers:


(In millions)	March 31, 2026		December 31, 2025
Contract assets	$	915	$	885
Contract liabilities	1,087		1,124

Contract assets, reported within other long-term assets in the consolidated balance sheets, primarily relate to customer discounts (contract incentives) where revenue is recognized and payment of consideration under the contract is contingent upon the transfer of services to a customer over the contractual period. Contract liabilities primarily relate to advance consideration received from customers (deferred revenue) for which transfer of control occurs, and therefore revenue is recognized, as services are provided. Contract balances are reported in a net contract asset or liability position on a contract-by-contract basis at the end of each reporting period. The Company recognized $322 million of revenue during the three months ended March 31, 2026 that was included in the contract liabilities balance at the beginning of the period.

Transaction Price Allocated to Remaining Performance Obligations

The following table includes estimated processing and services revenue expected to be recognized in the future related to performance obligations that were unsatisfied (or partially unsatisfied) at March 31, 2026:



(In millions)
Year Ending December 31,
Remainder of 2026	$	1,962
2027	2,133
2028	1,573
2029	965
Thereafter	967

The Company applies the optional exemption under ASC 606 and does not disclose information about remaining performance obligations for account- and transaction-based processing fees that qualify for recognition under the as-invoiced practical expedient. These multi-year contracts contain variable consideration for stand-ready performance obligations for which the exact quantity and mix of transactions to be processed are contingent upon the customer’s request. The Company also applies the optional exemptions under ASC 606 and does not disclose information for variable consideration that is a sales-based or usage-based royalty promised in exchange for a license of intellectual property or that is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service in a series. The amounts disclosed above as remaining performance obligations consist primarily of fixed or monthly minimum processing fees and maintenance fees under contracts with an original expected duration of greater than one year.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of fair value, assets and liabilities measured on recurring basis

Assets and liabilities measured at fair value on a recurring basis consisted of the following:

Fair Value

(In millions)

Classification

Fair Value Hierarchy

March 31, 2026

December 31, 2025

Assets

Cross-currency rate swap contracts designated as net investment hedges

Other long-term assets

Level 2

—

Fixed-to-floating interest rate swap contract designated as fair value hedge

Other long-term assets

Level 2

—

Liabilities

Cross-currency rate swap contracts designated as net investment hedges

Accounts payable and other current liabilities

Level 2

Forward exchange contracts designated as cash flow hedges

Accounts payable and other current liabilities

Level 2

Forward exchange contracts designated as cash flow hedges

Other long-term liabilities

Level 2

Cross-currency rate swap contracts designated as net investment hedges

Other long-term liabilities

Level 2

Fixed-to-floating interest rate swap contracts designated as fair value hedges

Other long-term liabilities

Level 2

—

Contingent consideration

Accounts payable and other current liabilities

Level 3

Contingent consideration

Other long-term liabilities

Level 3

Contingent debt guarantee

Other long-term liabilities

Level 3

Business Segment Information (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Schedule of segment reporting information

Operating results for each reportable segment were as follows:


	Reportable Segments
(In millions)	Merchant		Financial		Total
Three Months Ended March 31, 2026
Revenues:
Processing and services revenue	$	2,108	$	1,962
Product revenue	265		340
Reportable segment revenue	$	2,373	$	2,302	$	4,675
Corporate and Other revenue (1)					352
Total Company revenue					$	5,027
Expenses:
Personnel expenses (2)	362		543
Direct costs (3)	868		176
Depreciation and amortization expense	125		135
Other operating expense (4)	197		125
Allocations from Corporate and Other (5)	195		446

Reportable segment operating income	$	626	$	877	$	1,503
Corporate and Other operating loss (6)					(585)

Interest expense, net					(347)
Other income, net (7)					22
Income before income taxes and income from investments in unconsolidated affiliates					$	593


	Reportable Segments
(In millions)	Merchant		Financial		Total





















Three Months Ended March 31, 2025
Revenues:
Processing and services revenue	$	2,053	$	1,992
Product revenue	319		425
Reportable segment revenue	$	2,372	$	2,417	$	4,789
Corporate and Other revenue (1)					341
Total Company revenue					$	5,130
Expenses:
Personnel expenses (2)	330		498
Direct costs (3)	823		189
Depreciation and amortization expense	96		122
Other operating expense (4)	147		88
Allocations from Corporate and Other (5)	166		372

Reportable segment operating income	$	810	$	1,148	$	1,958
Corporate and Other operating loss (6)					(563)

Interest expense, net					(331)
Other expense, net (7)					(18)
Income before income taxes and loss from investments in unconsolidated affiliates					$	1,046

(1)Primarily includes postage reimbursements.

(2)Includes compensation and benefit costs of Company employees, as well as expenses paid to third parties for consulting and temporary help, net of capitalized software costs.

(3)Includes cost of goods sold, payments to distribution partners and other reselling costs.

(4)Includes data processing, facility, and marketing costs that are directly charged to the reportable segments.

Other significant items include:


	Three Months Ended March 31,
(In millions)	2026		2025
Depreciation and amortization:
Merchant (1)	$	142	$	112
Financial (1)	177		163
Corporate and Other (2)	512		504
Total Company	$	831	$	779

Capital expenditures, including capitalized software and other intangibles:
Merchant	$	151	$	95
Financial	193		145
Corporate and Other	114		95
Total Company	$	458	$	335

(2)Primarily includes amortization of acquisition-related intangible assets, such as customer relationships, software/technology and trade names.

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Disaggregation of Revenue [Line Items]
Revenue	$ 5,027	$ 5,130
Revenue not from contract with customer	324	331
Operating segments
Disaggregation of Revenue [Line Items]
Revenue	4,675	4,789
Operating segments \| Merchant Segment
Disaggregation of Revenue [Line Items]
Revenue	2,373	2,372
Operating segments \| Financial Segment
Disaggregation of Revenue [Line Items]
Revenue	2,302	2,417
Corporate and Other
Disaggregation of Revenue [Line Items]
Revenue	$ 352	$ 341
Geographic Concentration Risk \| Non-US \| Revenue from Contract with Customer Benchmark
Disaggregation of Revenue [Line Items]
Percentage of concentration risk	16.00%	14.00%
Small Business \| Operating segments \| Merchant Segment
Disaggregation of Revenue [Line Items]
Revenue	$ 1,609	$ 1,594
Enterprise \| Operating segments \| Merchant Segment
Disaggregation of Revenue [Line Items]
Revenue	512	502
Processing \| Operating segments \| Merchant Segment
Disaggregation of Revenue [Line Items]
Revenue	252	276
Digital Payments \| Operating segments \| Financial Segment
Disaggregation of Revenue [Line Items]
Revenue	947	995
Issuing \| Operating segments \| Financial Segment
Disaggregation of Revenue [Line Items]
Revenue	769	814
Banking \| Operating segments \| Financial Segment
Disaggregation of Revenue [Line Items]
Revenue	$ 586	$ 608

Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Disaggregation of revenue

The table below presents the Company’s revenue disaggregated by business line and includes a reconciliation with its reportable segments. The Company serves its global client base by working among its geographic teams across various regions, including the U.S. and Canada; Europe, Middle East and Africa (“EMEA”); Latin America (“LATAM”); and Asia Pacific (“APAC”). The majority of the Company’s revenue is earned in the U.S., with revenue generated within its EMEA, LATAM and APAC regions comprising approximately 16% and 14% of total revenue for the three months ended March 31, 2026 and 2025, respectively.


(In millions)	Three Months Ended March 31,
Revenue by Business Line	2026		2025
Small Business	$	1,609	$	1,594
Enterprise	512		502
Processing	252		276
Total Merchant Solutions segment revenue	$	2,373	$	2,372
Digital Payments	$	947	$	995
Issuing	769		814
Banking	586		608
Total Financial Solutions segment revenue	$	2,302	$	2,417
Corporate and Other	$	352	$	341
Total Revenue (1)	$	5,027	$	5,130

Contract with customer, asset and liabilities

The following table provides information about contract assets and contract liabilities from contracts with customers:


(In millions)	March 31, 2026		December 31, 2025
Contract assets	$	915	$	885
Contract liabilities	1,087		1,124

Schedule of remaining performance obligations



(In millions)
Year Ending December 31,
Remainder of 2026	$	1,962
2027	2,133
2028	1,573
2029	965
Thereafter	967

Equity (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury shares balance at beginning of period (in shares)	250
Balance at beginning of period	$ 25,809	$ 27,686
Net income	573	848
Other comprehensive income	(50)	243
Share-based compensation	118	124
Shares issued under stock plans	(29)	(221)
Purchases of treasury stock	$ (200)	(2,164)
Capital contribution from noncontrolling interest		5
Treasury shares balance at end of period (in shares)	251
Balance at end of period	$ 26,221	$ 26,521
Common Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares balance at beginning of period (in shares)	784	784
Balance at beginning of period	$ 8	$ 8
Common shares balance at end of period (in shares)	784	784
Balance at end of period	$ 8	$ 8
Treasury Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury shares balance at beginning of period (in shares)	250	220
Balance at beginning of period	$ (23,547)	$ (18,182)
Shares issued under stock plans (in shares)	(2)	(2)
Shares issued under stock plans	$ 138	$ 162
Purchases of treasury stock (in shares)	3	10
Purchases of treasury stock	$ (200)	$ (2,164)
Treasury shares balance at end of period (in shares)	251	228
Balance at end of period	$ (23,609)	$ (20,184)
Additional Paid-In Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	23,260	23,080
Share-based compensation	118	124
Shares issued under stock plans	(167)	(383)
Balance at end of period	23,211	22,821
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	(984)	(1,413)
Other comprehensive income	(51)	226
Balance at end of period	(1,035)	(1,187)
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	27,055	23,575
Net income	571	851
Balance at end of period	27,626	24,426
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	17	618
Net income	2	(3)
Other comprehensive income	1	17
Capital contribution from noncontrolling interest		5
Balance at end of period	$ 20	$ 637

Share-Based Compensation - Summary of Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2026 USD ($) $ / shares shares
Shares
Stock options outstanding - balance at beginning of period (in shares) \| shares	759
Forfeited (in shares) \| shares	(4)
Exercised (in shares) \| shares	(36)
Stock options outstanding - balance at end of period (in shares) \| shares	719
Stock options exercisable (in shares) \| shares	719
Weighted-Average Exercise Price
Stock options outstanding - balance at beginning of period (in dollars per shares) \| $ / shares	$ 90.84
Forfeited (in dollars per share) \| $ / shares	81.92
Exercised (in dollars per share) \| $ / shares	47.06
Stock options outstanding - balance at end of period (in dollars per shares) \| $ / shares	93.06
Stock options exercisable (in dollars per share) \| $ / shares	$ 93.06
Weighted-Average Remaining Contractual Term (Years)
Stock options outstanding (in years)	3 years 2 months 4 days
Stock options exercisable (in years)	3 years 2 months 4 days
Aggregate Intrinsic Value (In millions)
Stock options outstanding \| $	$ 0
Stock options exercisable \| $	$ 0

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation and Investigation Matters In the normal course of business, the Company or its subsidiaries are named as defendants in lawsuits in which claims are asserted against the Company. The Company maintained an accrual of $26 million and $25 million at March 31, 2026 and December 31, 2025, respectively, related to its various legal proceedings. The Company’s estimate of the possible range of exposure for various legal proceedings in excess of amounts accrued is $0 million to approximately $160 million. In the opinion of management, the liabilities, if any, which may ultimately result from such legal proceedings are not expected to have a material adverse effect on the Company’s consolidated financial statements. On July 24, 2025, a federal securities law complaint was filed against the Company and Frank J. Bisignano (the Company’s former Chairman and Chief Executive Officer), Michael P. Lyons, Robert W. Hau (the Company’s former Chief Financial Officer), and Kenneth F. Best in the United States District Court for the Southern District of New York. The complaint is brought on behalf of a putative class of purchasers of Company securities from July 22, 2024 to July 24, 2025 and alleges violations of Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”), and Rule 10b-5 thereunder, and Section 20(a) of the Exchange Act. The complaint alleges, among other things, that certain statements made by the Company about the growth of its Clover business management platform were false and/or misleading and led to a decline in the Company’s stock price over the purported class period. On November 17, 2025, lead plaintiffs were appointed in the action and it was assigned the caption In re Fiserv, Inc. Securities Litigation, No. 1:25-cv-06094. On November 4, 2025 and November 14, 2025, federal securities law complaints were filed against the Company and Messrs. Lyons and Hau in the United States District Court for the Eastern District of Wisconsin. The complaints are brought on behalf of a putative class of purchasers of Company securities from July 23, 2025 to at latest October 29, 2025, and allege violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Section 20(a) of the Exchange Act. The complaints allege, among other things, that certain statements made by the Company in connection with its second quarter 2025 earnings were false and/or misleading and led to a decline in the Company’s stock price over the purported class period. On February 5, 2026, the actions were consolidated under the caption In re Fiserv, Inc. Securities Litigation, No. 25-cv-1716. On April 28, 2026, an order was entered transferring the consolidated action to the Southern District of New York. Between December 10, 2025 and February 3, 2026, derivative complaints were filed by purported Company shareholders Richard Martin, Nathan Silva, and Gary Peterson in the United States District Court for the Eastern District of Wisconsin. On December 30, 2025, Mr. Martin filed an amended derivative complaint. On February 27, 2026 and April 14, 2026, derivative complaints were filed by purported Company shareholders Scott Kracht, Karen Artman, and Jenny Zhang in the Wisconsin Circuit Court for Milwaukee County. The actions name Messrs. Bisignano and Lyons, and certain other current and former officers and directors of the Company as individual defendants, and the Company as the nominal defendant, and generally allege that certain individual defendants breached their fiduciary duties and violated the Exchange Act in connection with, among other things, factual allegations made in the In re Fiserv, Inc. Securities Litigation actions. The actions also allege that certain individual defendants are liable for trading in Company stock at artificially inflated prices. The Company has also received demands on the board of directors from purported Company shareholders that the Company pursue certain litigation against certain of its current and former directors and officers alleging, among other things, supposed breaches of duty based on factual allegations made in the In re Fiserv, Inc. Securities Litigation actions. The Company may receive additional demands and these demands may precede derivative actions which name the Company as a nominal defendant. The defendants have not yet answered or otherwise responded to any of the complaints in these actions. The Company intends to vigorously defend these cases but cannot predict with any degree of certainty the outcome of the suits or determine the extent of any potential liability or damages. In November 2025, the Company began responding to requests for information from the Enforcement Division of the U.S. Securities and Exchange Commission and the U.S. Attorney’s Office for the Southern District of New York in connection with investigations related to the Company’s 2025 earnings guidance. The Company is cooperating with these investigations. Electronic Payments Transactions In connection with the Company’s processing of electronic payments transactions, which are separate and distinct from the settlement payment transactions described in Note 1, funds received from subscribers are invested from the time the Company collects the funds until payments are made to the applicable recipients. These subscriber funds are invested in short-term, highly liquid investments. Subscriber funds, which are not included in the Company’s consolidated balance sheets, can fluctuate significantly based on consumer bill payment and debit card activity and totaled $1.3 billion and $1.7 billion at March 31, 2026 and December 31, 2025, respectively. Indemnifications and Warranties The Company may indemnify its clients from certain costs resulting from claims of patent, copyright or trademark infringement associated with its clients’ use of the Company’s products or services. The Company may also warrant to clients that its products and services will operate in accordance with identified specifications. From time to time, in connection with sales of businesses, the Company agrees to indemnify the buyers of such businesses for liabilities associated with the businesses that are sold. Payments, net of recoveries, under such indemnification or warranty provisions were not material to the Company’s consolidated financial statements.

Shares Used in Computing Net Income Per Share Attributable to Fiserv, Inc. (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Computation of shares used in calculating basic and diluted net income per common share

The computation of shares used in calculating basic and diluted net income per share is as follows:


	Three Months Ended March 31,
(In millions)	2026	2025
Weighted-average common shares outstanding used for the calculation of net income attributable to Fiserv, Inc. per share - basic	534.3	561.3
Common stock equivalents	1.1	3.4
Weighted-average common shares outstanding used for the calculation of net income attributable to Fiserv, Inc. per share - diluted	535.4	564.7

Share-Based Compensation - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Dec. 31, 2025	Mar. 31, 2026	Mar. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 118	$ 124
Unrecognized compensation cost		$ 674
Weighted-average period unrecognized compensation cost will be recognized (in years)		2 years
Time-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period		3 years
Retention Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period	18 months

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
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-Paragraph 2
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 718
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-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

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-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
-Subparagraph (a)(2)
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-Topic 718
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-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Acquisitions and Other Transactions - Narrative (Details) - USD ($) $ in Millions						3 Months Ended		6 Months Ended
	Dec. 17, 2025	Sep. 05, 2025	Apr. 17, 2025	Mar. 18, 2025	Mar. 02, 2025	Mar. 31, 2026	Mar. 31, 2025	Sep. 25, 2025	Dec. 31, 2025
Business Combination [Line Items]
Goodwill						$ 37,602			$ 37,703
Cash flows from investing activities						0	$ 316
Finite-lived intangible assets, period increase (decrease)						(15)
Goodwill, measurement period adjustment						14
Increase in other noncurrent assets and liabilities, net						1
StoneCastle
Business Combination [Line Items]
Business combination, consideration transferred	$ 416
Cash acquired from acquisition	4
Business combination, recognized identifiable assets acquired and liabilities assumed, finite-lived intangibles	165
Business combination, recognized identifiable assets acquired and liabilities assumed, other noncurrent assets	$ 8
StoneCastle \| Acquired software and technology
Business Combination [Line Items]
Acquired finite-lived intangible assets, weighted average useful life	7 years
Goodwill	$ 247
CCV Group B.V.
Business Combination [Line Items]
Cash acquired from acquisition				$ 34
Goodwill						120
Business combination, recognized identifiable assets acquired and liabilities assumed, other noncurrent assets						24
Cash flows from investing activities				$ 219
CCV Group B.V. \| Acquired software and technology
Business Combination [Line Items]
Business combination, recognized identifiable assets acquired and liabilities assumed, finite-lived intangibles						$ 2
Acquired finite-lived intangible assets, weighted average useful life						1 year
CCV Group B.V. \| Customer relationships
Business Combination [Line Items]
Business combination, recognized identifiable assets acquired and liabilities assumed, finite-lived intangibles						$ 103
Acquired finite-lived intangible assets, weighted average useful life						8 years
CCV Group B.V. \| Trademarks
Business Combination [Line Items]
Business combination, recognized identifiable assets acquired and liabilities assumed, finite-lived intangibles						$ 4
Acquired finite-lived intangible assets, weighted average useful life						2 years
Payfare
Business Combination [Line Items]
Cash acquired from acquisition					$ 46
Goodwill					56
Business combination, recognized identifiable assets acquired and liabilities assumed, other noncurrent assets					49
Cash flows from investing activities					95
Payfare \| Acquired software and technology
Business Combination [Line Items]
Business combination, recognized identifiable assets acquired and liabilities assumed, finite-lived intangibles					$ 22
Acquired finite-lived intangible assets, weighted average useful life					7 years
Payfare \| Customer Relationships
Business Combination [Line Items]
Business combination, recognized identifiable assets acquired and liabilities assumed, finite-lived intangibles					$ 14
Acquired finite-lived intangible assets, weighted average useful life					14 years
Pinch Payments, Money Money Acquisitions, and CardFree
Business Combination [Line Items]
Goodwill								$ 73
Cash flows from investing activities								127
Earn-out provisions estimated fair value								35
Net assumed liabilities								5
Pinch Payments, Money Money Acquisitions, and CardFree \| Acquired software and technology
Business Combination [Line Items]
Business combination, recognized identifiable assets acquired and liabilities assumed, finite-lived intangibles								$ 31
Acquired finite-lived intangible assets, weighted average useful life								7 years
Pinch Payments, Money Money Acquisitions, and CardFree \| Customer Relationships
Business Combination [Line Items]
Business combination, recognized identifiable assets acquired and liabilities assumed, finite-lived intangibles								$ 18
Acquired finite-lived intangible assets, weighted average useful life								6 years
ICICI Merchant Services Private Limited
Business Combination [Line Items]
Cash flows from investing activities			$ 22
Business combination, voting equity interest acquired, percentage			19.00%
AIBMS
Business Combination [Line Items]
Business combination, consideration transferred		$ 420
Cash acquired from acquisition		$ 195
Business combination, voting equity interest acquired, percentage		49.90%

Debt

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Debt

The Company’s debt consisted of the following at:


(In millions)	March 31, 2026		December 31, 2025
Short-term and current maturities of long-term debt:
Foreign lines of credit	$	767	$	762
Finance lease and other financing obligations	556		477
Total short-term and current maturities of long-term debt	$	1,323	$	1,239

Long-term debt:
3.200% senior notes due July 2026	$	2,000	$	2,000
5.150% senior notes due March 2027	750		750
2.250% senior notes due June 2027	1,000		1,000
1.125% senior notes due July 2027 (Euro-denominated)	575		589
5.450% senior notes due March 2028	900		900
2.875% senior notes due June 2028 (Euro-denominated)	862		883
5.375% senior notes due August 2028	700		700
4.200% senior notes due October 2028	1,000		1,000
3.500% senior notes due July 2029	3,000		3,000
4.750% senior notes due March 2030	850		850
2.650% senior notes due June 2030	1,000		1,000
1.625% senior notes due July 2030 (Euro-denominated)	575		589
4.550% senior notes due February 2031	1,000		1,000
5.350% senior notes due March 2031	500		500
4.500% senior notes due May 2031 (Euro-denominated)	919		942
3.000% senior notes due July 2031 (British Pound-denominated)	695		709
3.500% senior notes due June 2032 (Euro-denominated)	890		912
5.600% senior notes due March 2033	900		900
5.625% senior notes due August 2033	1,300		1,300
5.450% senior notes due March 2034	750		750
5.150% senior notes due August 2034	900		900
5.250% senior notes due August 2035	1,000		1,000
4.000% senior notes due June 2036 (Euro-denominated)	747		765
4.400% senior notes due July 2049	2,000		2,000
U.S. dollar commercial paper notes	560		326
Euro commercial paper notes	682		839
Revolving credit facility	221		188


Unamortized discount and deferred financing costs	(161)		(169)
Fair value hedge accounting adjustments (see Note 8)	(1)		—
Finance lease and other financing obligations	1,745		1,635
Total long-term debt	$	27,859	$	27,758

The Company was in compliance with all financial debt covenants during the three months ended March 31, 2026.

Senior Notes

On August 11, 2025, the Company completed the public offering and issuance of $2.0 billion of senior notes, comprised of $1.0 billion aggregate principal amount of 4.550% senior notes due in February 2031 and $1.0 billion aggregate principal amount of 5.250% senior notes due in August 2035. Interest on these senior notes is paid semi-annually. The Company used the net proceeds from this senior notes offering for general corporate purposes, including the repayment of a portion of the Company’s commercial paper notes and for share repurchases.

On May 7, 2025, Fiserv Funding Unlimited Company, an indirect wholly owned subsidiary of the Company, completed the public offering and issuance of €2.175 billion of senior notes, comprised of €750 million aggregate principal amount of 2.875% senior notes due in June 2028, €775 million aggregate principal amount of 3.500% senior notes due in June 2032 and €650 million aggregate principal amount of 4.000% senior notes due in June 2036. These notes are fully and unconditionally guaranteed on a senior unsecured basis by the Company. Interest on these senior notes is paid annually. The Company used the net proceeds from this senior notes offering for general corporate purposes, including the repayment of a portion of the Company’s commercial paper notes, 3.850% senior notes due in June 2025 and 2.250% senior notes due in July 2025.

At March 31, 2026, the 3.200% senior notes due July 2026 and 5.150% senior notes due March 2027 were classified in the consolidated balance sheet as long-term, as the Company has the intent to refinance this debt on a long-term basis, and the ability to do so under its revolving credit facility.

The indentures governing the Company’s senior notes contain covenants that, among other matters, limit (i) the Company’s ability to consolidate or merge with or into, or convey, transfer or lease all or substantially all of its properties and assets to, another person, (ii) the Company’s and certain of its subsidiaries’ ability to create or assume liens, and (iii) the Company’s and certain of its subsidiaries’ ability to engage in sale and leaseback transactions. The Company may, at its option, redeem the senior notes, in whole or in part, at any time and from time to time at the applicable redemption price. Interest on the Company’s U.S. dollar-denominated senior notes is paid semi-annually, while interest on its Euro- and British Pound- denominated senior notes is paid annually. The interest rate applicable to certain of the senior notes is subject to an increase of up to two percent in the event that the credit rating assigned to such notes is downgraded below investment grade.

Commercial Paper

The Company maintains unsecured U.S. dollar and Euro commercial paper programs. From time to time, the Company may issue under these programs U.S. dollar commercial paper with maturities of up to 397 days from the date of issuance and Euro commercial paper with maturities of up to 183 days from the date of issuance. Outstanding borrowings under the U.S. dollar program were $560 million and $326 million at March 31, 2026 and December 31, 2025, with weighted average interest rates of 4.009% and 3.851%, respectively. Outstanding borrowings under the Euro program were $682 million and $839 million at March 31, 2026 and December 31, 2025, with weighted average interest rates of 2.330% and 2.210%, respectively. The Company intends to maintain available capacity under its revolving credit facility, as described below, in an amount at least equal to the aggregate outstanding borrowings under its commercial paper programs. Outstanding borrowings under the commercial paper programs are classified in the consolidated balance sheets as long-term as the Company has the intent to refinance this commercial paper on a long-term basis through the continued issuance of new commercial paper upon maturity, and the Company also has the ability to refinance such commercial paper under its revolving credit facility.

Revolving Credit Facility

The Company maintains a senior unsecured multicurrency revolving credit facility, which matures in August 2030 and provides for a maximum aggregate principal amount of availability of $8.0 billion. Borrowings under the credit facility bear interest at a variable base rate, determined by the term and currency of the borrowing, plus a specified margin based on the Company’s long-term debt rating. Outstanding borrowings under the revolving credit facility were $221 million and $188 million at March 31, 2026 and December 31, 2025, with corresponding interest rates of 4.655% and 4.685%, respectively. The credit facility also requires the Company to pay a facility fee based on the aggregate commitments in effect under the agreement from time to time. The credit facility contains various restrictions and covenants that require the Company to, among other things, limit its consolidated indebtedness as of the end of each fiscal quarter to no more than 3.75 times the Company’s consolidated net income before interest, taxes, depreciation, amortization, non-cash charges and expenses and certain other adjustments during the period of four fiscal quarters then ended, subject to certain exceptions.

Foreign Lines of Credit

The Company maintains various short-term lines of credit and other borrowing arrangements with foreign banks and alliance partners primarily to fund merchant settlement advances associated with operations in Latin America through the Company’s settlement anticipation program (see Note 1). The following table provides a summary of the outstanding borrowings and weighted average interest rates of the Company’s foreign lines of credit and other borrowing arrangements by country:


	Outstanding Borrowings (In millions)				Weighted-Average Interest Rate
	March 31, 2026		December 31, 2025		March 31, 2026		December 31, 2025
Argentina	$	154	$	282	35.787	%	51.559	%
Brazil	472		365		15.294	%	15.482	%
Uruguay and Other	141		115		6.242	%	7.964	%
Total	$	767	$	762	17.741	%	27.727	%

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Prepaid Expenses and Other Current Assets [Line Items]
Prepaid maintenance, postage and insurance	$ 437	$ 334
Other prepaid expenses	278	269
Total prepaid expenses	715	603
Income tax receivables	121	148
Other current assets	815	858
Total other current assets	2,696	2,793
Total prepaid expenses and other current assets	3,411	3,396
Clover Capital
Prepaid Expenses and Other Current Assets [Line Items]
Cash advances	560	564
Foreign Merchants
Prepaid Expenses and Other Current Assets [Line Items]
Cash advances	$ 1,200	$ 1,223

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025	Aug. 11, 2025
Short-term and current maturities of long-term debt:
Total short-term and current maturities of long-term debt	$ 1,323	$ 1,239
Finance lease and other financing obligations	556	477
Long-term debt:
Unamortized discount and deferred financing costs	(161)	(169)
Fair value hedge accounting adjustments (see Note 8)	(1)	0
Finance lease and other financing obligations	1,745	1,635
Total long-term debt	$ 27,859	27,758
Senior Notes \| 3.200% senior notes due July 2026
Debt Instrument [Line Items]
Interest rate, stated percentage	3.20%
Long-term debt:
Long-term debt	$ 2,000	2,000
Senior Notes \| 5.150% senior notes due March 2027
Debt Instrument [Line Items]
Interest rate, stated percentage	5.15%
Long-term debt:
Long-term debt	$ 750	750
Senior Notes \| 2.250% senior notes due June 2027
Debt Instrument [Line Items]
Interest rate, stated percentage	2.25%
Long-term debt:
Long-term debt	$ 1,000	1,000
Senior Notes \| 1.125% senior notes due July 2027 (Euro-denominated)
Debt Instrument [Line Items]
Interest rate, stated percentage	1.125%
Long-term debt:
Long-term debt	$ 575	589
Senior Notes \| 5.450% senior notes due March 2028
Debt Instrument [Line Items]
Interest rate, stated percentage	5.45%
Long-term debt:
Long-term debt	$ 900	900
Senior Notes \| 2.875% senior notes due June 2028 (Euro-denominated)
Long-term debt:
Long-term debt	$ 862	883
Senior Notes \| 5.375% senior notes due August 2028
Debt Instrument [Line Items]
Interest rate, stated percentage	5.375%
Long-term debt:
Long-term debt	$ 700	700
Senior Notes \| 4.200% senior notes due October 2028
Debt Instrument [Line Items]
Interest rate, stated percentage	4.20%
Long-term debt:
Long-term debt	$ 1,000	1,000
Senior Notes \| 3.500% senior notes due July 2029
Debt Instrument [Line Items]
Interest rate, stated percentage	3.50%
Long-term debt:
Long-term debt	$ 3,000	3,000
Senior Notes \| 4.750% senior notes due March 2030
Debt Instrument [Line Items]
Interest rate, stated percentage	4.75%
Long-term debt:
Long-term debt	$ 850	850
Senior Notes \| 2.650% senior notes due June 2030
Debt Instrument [Line Items]
Interest rate, stated percentage	2.65%
Long-term debt:
Long-term debt	$ 1,000	1,000
Senior Notes \| 1.625% senior notes due July 2030 (Euro-denominated)
Debt Instrument [Line Items]
Interest rate, stated percentage	1.625%
Long-term debt:
Long-term debt	$ 575	589
Senior Notes \| 4.550% senior notes due February 2031
Debt Instrument [Line Items]
Interest rate, stated percentage	4.55%		4.55%
Long-term debt:
Long-term debt	$ 1,000	1,000
Senior Notes \| 5.350% senior notes due March 2031
Debt Instrument [Line Items]
Interest rate, stated percentage	5.35%
Long-term debt:
Long-term debt	$ 500	500
Senior Notes \| 4.500% senior notes due May 2031 (Euro-denominated)
Debt Instrument [Line Items]
Interest rate, stated percentage	4.50%
Long-term debt:
Long-term debt	$ 919	942
Senior Notes \| 3.000% senior notes due July 2031 (British Pound-denominated)
Debt Instrument [Line Items]
Interest rate, stated percentage	3.00%
Long-term debt:
Long-term debt	$ 695	709
Senior Notes \| 3.500% senior notes due June 2032 (Euro-denominated)
Long-term debt:
Long-term debt	$ 890	912
Senior Notes \| 5.600% senior notes due March 2033
Debt Instrument [Line Items]
Interest rate, stated percentage	5.60%
Long-term debt:
Long-term debt	$ 900	900
Senior Notes \| 5.625% senior notes due August 2033
Debt Instrument [Line Items]
Interest rate, stated percentage	5.625%
Long-term debt:
Long-term debt	$ 1,300	1,300
Senior Notes \| 5.450% senior notes due March 2034
Debt Instrument [Line Items]
Interest rate, stated percentage	5.45%
Long-term debt:
Long-term debt	$ 750	750
Senior Notes \| 5.150% senior notes due August 2034
Debt Instrument [Line Items]
Interest rate, stated percentage	5.15%
Long-term debt:
Long-term debt	$ 900	900
Senior Notes \| 5.250% senior notes due August 2035
Debt Instrument [Line Items]
Interest rate, stated percentage	5.25%		5.25%
Long-term debt:
Long-term debt	$ 1,000	1,000
Senior Notes \| 4.0% Senior Notes Due June 2036
Long-term debt:
Long-term debt	$ 747	765
Senior Notes \| 4.400% senior notes due July 2049
Debt Instrument [Line Items]
Interest rate, stated percentage	4.40%
Long-term debt:
Long-term debt	$ 2,000	2,000
Commercial Paper \| U.S. dollar commercial paper notes
Long-term debt:
Long-term debt	560	326
Commercial Paper \| Euro commercial paper notes
Long-term debt:
Long-term debt	682	839
Line of Credit \| Revolving credit facility
Long-term debt:
Long-term debt	221	188
Foreign lines of credit
Short-term and current maturities of long-term debt:
Total short-term and current maturities of long-term debt	$ 767	$ 762

Derivatives and Hedging Instruments - Schedule of Notional Amount of Cross Currency Rate Swaps (Details) € in Millions, $ in Millions, $ in Millions	Mar. 31, 2026 EUR (€)	Mar. 31, 2026 SGD ($)	Mar. 31, 2026 CAD ($)	Dec. 31, 2025 EUR (€)	Dec. 31, 2025 SGD ($)	Dec. 31, 2025 CAD ($)
Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of derivatives	€ 940	$ 828	$ 405	€ 940	$ 828	$ 405

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025	Aug. 12, 2025
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments in unconsolidated affiliates	$ 1,028		$ 1,046
Revolving Credit Facility \| Line of Credit
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Maximum borrowing capacity				$ 8,000
Revolving Credit Facility \| Variable-Rate Revolving Credit Facilities Due April 2027 \| Line of Credit \| Lending Joint Ventures
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Maximum borrowing capacity	83
Term Loan Facilities \| Variable-Rate Term Loan Facilities Due April 2027 \| Line of Credit \| Lending Joint Ventures
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Maximum borrowing capacity	393
Long-term debt	44
Carrying value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total debt	26,900		26,900
Level 2 \| Fair value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total debt	26,000		26,400
Lending Joint Ventures
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments in unconsolidated affiliates	83		88
Financial Guarantee
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Carrying value of non-contingent liability	476
Financial Guarantee \| Lending Joint Ventures
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Carrying value of non-contingent liability	9		$ 12
Other (expense) income	$ 4	$ 5

Investments in Unconsolidated Affiliates (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2025	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Investments in and Advances to Affiliates [Line Items]
Investments in unconsolidated affiliates		$ 1,028		$ 1,046
Equity securities without a readily determinable fair value		$ 114		126
Equity securities without readily determinable fair value, upward price adjustment, annual amount			$ 0
Wells Fargo Merchant Services (WFMS)
Investments in and Advances to Affiliates [Line Items]
Percentage of interest owned in affiliate		40.00%
Proceeds from divestiture of interest in joint venture	$ 453
Lending Joint Ventures
Investments in and Advances to Affiliates [Line Items]
Investments in unconsolidated affiliates		$ 83		88
Other Strategic Investments
Investments in and Advances to Affiliates [Line Items]
Investments in unconsolidated affiliates		212		208
Banc of America Merchant Services
Investments in and Advances to Affiliates [Line Items]
Investments in unconsolidated affiliates		723		$ 736
Affiliated entities
Investments in and Advances to Affiliates [Line Items]
Revenues		$ 18	$ 32

Accounts Payable and Other Current Liabilities

3 Months Ended

Mar. 31, 2026

Payables and Accruals [Abstract]

Accounts Payable and Other Current Liabilities

Accounts payable and other current liabilities consisted of the following:


(In millions)	March 31, 2026		December 31, 2025
Trade accounts payable	$	930	$	797
Client deposits	1,012		988
Transferable federal tax credits (see Note 14)	7		801
Accrued compensation and benefits	271		299
Accrued taxes	403		368
Accrued interest	282		417

Accrued payment network fees	303		297
Operating lease liabilities	124		126
Accrued professional fees	147		161


Other accrued expenses	1,112		1,053
Total	$	4,591	$	5,307

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2026	May 01, 2026
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
Document Transition Report	false
Entity File Number	1-38962
Entity Registrant Name	FISERV, INC.
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-1506125
Entity Address, Address Line One	600 N. Vel R. Phillips Avenue
Entity Address, City or Town	Milwaukee
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53203
City Area Code	262
Local Phone Number	879-5000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		533,253,986
Amendment Flag	false
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000798354
Current Fiscal Year End Date	--12-31
Common Stock, par value $0.01 per share
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	FISV
Security Exchange Name	NASDAQ
1.125% Senior Notes due 2027
Document Information [Line Items]
Title of 12(b) Security	1.125% Senior Notes due 2027
Trading Symbol	FISV27
Security Exchange Name	NASDAQ
1.625% Senior Notes due 2030
Document Information [Line Items]
Title of 12(b) Security	1.625% Senior Notes due 2030
Trading Symbol	FISV30
Security Exchange Name	NASDAQ
3.000% Senior Notes due 2031
Document Information [Line Items]
Title of 12(b) Security	3.000% Senior Notes due 2031
Trading Symbol	FISV31
Security Exchange Name	NASDAQ
4.500% Senior Notes due 2031
Document Information [Line Items]
Title of 12(b) Security	4.500% Senior Notes due 2031
Trading Symbol	FISV31A
Security Exchange Name	NASDAQ
2.875% Senior Notes due 2028
Document Information [Line Items]
Title of 12(b) Security	2.875% Senior Notes due 2028
Trading Symbol	FISV28C
Security Exchange Name	NASDAQ
3.500% Senior Notes due 2032
Document Information [Line Items]
Title of 12(b) Security	3.500% Senior Notes due 2032
Trading Symbol	FISV32
Security Exchange Name	NASDAQ
4.000% Senior Notes due 2036
Document Information [Line Items]
Title of 12(b) Security	4.000% Senior Notes due 2036
Trading Symbol	FISV36
Security Exchange Name	NASDAQ

Revenue Recognition - Remaining Performance Obligation (Details) $ in Millions	Mar. 31, 2026 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 1,962
Performance obligations expected to be satisfied, expected timing	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 2,133
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 1,573
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 965
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 967
Performance obligations expected to be satisfied, expected timing

Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss by component, net of income taxes, consisted of the following:


(In millions)	Derivatives		Foreign Currency Translation		Pension Plans		Total
Three Months Ended March 31, 2026
Balance at December 31, 2025	$	(71)	$	(908)	$	(5)	$	(984)
Other comprehensive loss before reclassifications	(13)		(44)		—		(57)
Amounts reclassified from accumulated other comprehensive loss	6		—		—		6
Net current-period other comprehensive income	(7)		(44)		—		(51)
Balance at March 31, 2026	$	(78)	$	(952)	$	(5)	$	(1,035)

Three Months Ended March 31, 2025
Balance at December 31, 2024	$	(79)	$	(1,327)	$	(7)	$	(1,413)
Other comprehensive income before reclassifications	2		220		—		222
Amounts reclassified from accumulated other comprehensive loss	4		—		—		4
Net current-period other comprehensive income	6		220		—		226



Balance at March 31, 2025	$	(73)	$	(1,107)	$	(7)	$	(1,187)

Intangible Assets - Schedule of Intangible Assets by Class (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 24,188		$ 23,993
Accumulated Amortization	14,206		13,832
Net Book Value	9,982		10,161
Amortization of intangible assets	573	$ 559
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	14,707		14,773
Accumulated Amortization	9,879		9,680
Net Book Value	4,828		5,093
Acquired software and technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,189		2,150
Accumulated Amortization	1,447		1,356
Net Book Value	742		794
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	621		633
Accumulated Amortization	468		458
Net Book Value	153		175
Purchased software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,435		1,397
Accumulated Amortization	413		441
Net Book Value	1,022		956
Capitalized software and other intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	5,236		5,040
Accumulated Amortization	1,999		1,897
Net Book Value	$ 3,237		$ 3,143

Cash Flow Information

3 Months Ended

Mar. 31, 2026

Supplemental Cash Flow Elements [Abstract]

Cash Flow Information

Supplemental cash flow information consisted of the following:


	Three Months Ended March 31,
(In millions)	2026		2025
Interest paid	$	487	$	454
Net income taxes paid, including transferable federal tax credits	761		727
Treasury stock purchases settled after the balance sheet date	—		39

Software obtained under financing arrangements	103		513
Hardware obtained under financing arrangements	—		70
Right-of-use assets obtained in exchange for lease liabilities - operating leases	160		23
Right-of-use assets obtained in exchange for lease liabilities - finance leases	309		214

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
Accounting Policies [Abstract]
Cash and cash equivalents on the consolidated balance sheets	$ 829	$ 798	$ 1,177
Cash and cash equivalents included in settlement assets	1,400	1,978	2,190
Restricted cash	21	26	2
Total cash and cash equivalents on the consolidated statements of cash flows	$ 2,250	$ 2,802	$ 3,369	$ 2,993

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Interest Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Accounting Policies [Abstract]
Interest expense	$ (361)	$ (339)
Interest income	14	8
Interest expense, net	$ (347)	$ (331)

- Definition

Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-24

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483013/835-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-3

+ Details

Share-Based Compensation

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation

The Company recognized $118 million and $124 million of share-based compensation expense during the three months ended March 31, 2026 and 2025, respectively. The Company’s share-based compensation awards are typically granted in the first quarter of the year; however, grants may also occur throughout the year. Time-based restricted stock units generally vest over a three-year period. In December 2025, the Company granted retention restricted stock units to certain employees, which fully vest after an 18-month period. At March 31, 2026, the total remaining unrecognized compensation cost for restricted stock units and performance share units, net of estimated forfeitures, of $674 million is expected to be recognized over a weighted-average period of 2.0 years.

A summary of restricted stock unit and performance share unit activity during the three months ended March 31, 2026 is as follows:


	Restricted Stock Units			Performance Share Units
	Shares (In thousands)	Weighted-Average Grant Date Fair Value		Shares (In thousands)	Weighted-Average Grant Date Fair Value
Units - December 31, 2025	3,890	$	156.58	2,251	$	138.57

Granted	7,380	64.47		1,109	67.53
Forfeited	(124)	130.68		(127)	176.17
Vested	(1,743)	147.36		(153)	160.86
Units - March 31, 2026	9,403	$	86.24	3,080	$	110.11

A summary of stock option activity during the three months ended March 31, 2026 is as follows:


	Shares (In thousands)	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In millions)
Stock options outstanding - December 31, 2025	759	$	90.84


Forfeited	(4)	81.92
Exercised	(36)	47.06
Stock options outstanding - March 31, 2026	719	$	93.06	3.18	$	—
Stock options exercisable - March 31, 2026	719	$	93.06	3.18	$	—

Derivatives and Hedging Instruments (Tables)

3 Months Ended

Mar. 31, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of notional amounts of outstanding derivative positions

The aggregate notional amount of the fixed-to-fixed cross-currency rate swap contracts were as follows:


(In millions)	March 31, 2026	December 31, 2025
Currency
Euros	940	940
Singapore Dollars	828	828
Canadian Dollars	405	405


	Three Months Ended March 31,
(In millions)	2026		2025
Cross-currency rate swap contracts	$	15	$	(21)
Foreign currency-denominated debt	63		(97)

The notional amounts of the hedged fixed rate senior notes were as follows:


(In millions)	March 31, 2026		December 31, 2025
Hedged Notes
5.150% senior notes due August 2034	$	250	$	—
5.250% senior notes due August 2035	525		—

Intangible Assets

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Identifiable intangible assets consisted of the following:


(In millions)	Gross Carrying Amount		Accumulated Amortization		Net Book Value
March 31, 2026
Customer relationships	$	14,707	$	9,879	$	4,828
Acquired software and technology	2,189		1,447		742
Trade names	621		468		153
Purchased software	1,435		413		1,022
Capitalized software and other intangibles	5,236		1,999		3,237
Total	$	24,188	$	14,206	$	9,982

December 31, 2025
Customer relationships	$	14,773	$	9,680	$	5,093
Acquired software and technology	2,150		1,356		794
Trade names	633		458		175
Purchased software	1,397		441		956
Capitalized software and other intangibles	5,040		1,897		3,143
Total	$	23,993	$	13,832	$	10,161

Amortization expense associated with the above identifiable intangible assets was $573 million and $559 million for the three months ended March 31, 2026 and 2025, respectively.

Share-Based Compensation - Summary of Restricted Stock and Performance Activity (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2026 $ / shares shares
Restricted Stock Units
Shares (In thousands)
Balance at beginning of period (in shares) \| shares	3,890
Granted (in shares) \| shares	7,380
Forfeited (in shares) \| shares	(124)
Vested (in shares) \| shares	(1,743)
Balance at end of period (in shares) \| shares	9,403
Weighted-Average Grant Date Fair Value
Balance at beginning of period (in dollars per share) \| $ / shares	$ 156.58
Granted (in dollars per share) \| $ / shares	64.47
Forfeited (in dollars per share) \| $ / shares	130.68
Vested (in dollars per share) \| $ / shares	147.36
Balance at end of period (in dollars per share) \| $ / shares	$ 86.24
Performance Share Units
Shares (In thousands)
Balance at beginning of period (in shares) \| shares	2,251
Granted (in shares) \| shares	1,109
Forfeited (in shares) \| shares	(127)
Vested (in shares) \| shares	(153)
Balance at end of period (in shares) \| shares	3,080
Weighted-Average Grant Date Fair Value
Balance at beginning of period (in dollars per share) \| $ / shares	$ 138.57
Granted (in dollars per share) \| $ / shares	67.53
Forfeited (in dollars per share) \| $ / shares	176.17
Vested (in dollars per share) \| $ / shares	160.86
Balance at end of period (in dollars per share) \| $ / shares	$ 110.11

Derivatives and Hedging Instruments - Narrative (Details) € in Millions, £ in Millions, $ in Millions, $ in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2026 USD ($)	Mar. 31, 2025 USD ($)	May 06, 2026 USD ($)	Mar. 31, 2026 EUR (€)	Mar. 31, 2026 SGD ($)	Mar. 31, 2026 CAD ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2025 EUR (€)	Dec. 31, 2025 SGD ($)	Dec. 31, 2025 CAD ($)	Aug. 11, 2025	Jul. 31, 2025 GBP (£)	May 07, 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Estimate of gains (losses) related to foreign currency exchange contracts during the next 12 months	$ 19
Accumulated other comprehensive loss	1,035						$ 984
Estimated interest expense related to settled interest rate hedge contracts during the next twelve months	12
Foreign currency translation adjustment, tax	$ 26	$ (40)
Change in fair value of cross-currency rate swaps		20
2.25% Senior Notes Due July 2025 \| Senior Notes
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Debt instrument, interest rate												2.25%	2.25%
5.150% senior notes due August 2034 \| Senior Notes
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Debt instrument, interest rate	5.15%			5.15%	5.15%	5.15%
5.250% senior notes due August 2035 \| Senior Notes
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Debt instrument, interest rate	5.25%			5.25%	5.25%	5.25%					5.25%
Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount				€ 940	$ 828	$ 405		€ 940	$ 828	$ 405
Foreign currency translation adjustment, tax	$ (26)	$ 40
Foreign currency forward exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	381						323
Treasury Lock
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Accumulated other comprehensive loss	85						88
Cross-currency rate swap contracts designated as net investment hedges \| Fair Value Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount \| £												£ 525
Interest Rate Swap \| Fair Value Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	775
Change in fair value of cross-currency rate swaps	(1)
Interest Rate Swap \| Fair Value Hedging \| Subsequent Event
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount			$ 725
Interest Rate Swap \| Fair Value Hedging \| 5.150% senior notes due August 2034 \| Senior Notes
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	250						0
Interest Rate Swap \| Fair Value Hedging \| 5.250% senior notes due August 2035 \| Senior Notes
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 525						$ 0

Income Taxes - Income Tax Provision and Effective Income Tax Rate (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Current:
Federal	$ (2)	$ 124
State	43	36
Foreign	41	66
Total current income tax expense (benefit)	82	226
Deferred:
Federal	171	(15)
State	9	(3)
Foreign	(238)	(19)
Total deferred income tax expense (benefit)	(58)	(37)
Income tax provision	$ 24	$ 190
Effective income tax rate	4.00%	18.20%

Derivatives and Hedging Instruments - Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss) (Details) - Net Investment Hedging - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cross-currency rate swap contracts designated as net investment hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign currency translation	$ 15	$ (21)
Foreign Currency-Denominated Debt [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign currency translation	$ 63	$ (97)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Derivatives and Hedging Instruments - Notional Amount Of Hedged Fixed Rate Senior Notes (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025	Aug. 11, 2025
Interest Rate Swap \| Fair Value Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of derivatives	$ 775
5.150% senior notes due August 2034 \| Senior Notes
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Debt instrument, interest rate	5.15%
5.150% senior notes due August 2034 \| Senior Notes \| Interest Rate Swap \| Fair Value Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of derivatives	$ 250	$ 0
5.250% senior notes due August 2035 \| Senior Notes
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Debt instrument, interest rate	5.25%		5.25%
5.250% senior notes due August 2035 \| Senior Notes \| Interest Rate Swap \| Fair Value Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of derivatives	$ 525	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions

3 Months Ended

Mar. 31, 2026

Mar. 31, 2025

Revenue

$ 5,027

$ 5,130

Selling, general and administrative

1,885

1,682

Net gain on sale of assets

(83)

(20)

Total expenses

4,109

3,735

Operating income

918

1,395

Interest expense, net

(347)

(331)

Other income (expense), net

(18)

Income before income taxes and income (loss) from investments in unconsolidated affiliates

593

1,046

Income tax provision

(24)

(190)

Income (loss) from investments in unconsolidated affiliates

(8)

Net income

573

848

Less: net income (loss) attributable to noncontrolling interests

(3)

Net income attributable to Fiserv, Inc.

$ 571

$ 851

Net income attributable to Fiserv, Inc. per share:

Basic (in dollars per share)

$ 1.07

$ 1.52

Diluted (in dollars per share)

$ 1.07

$ 1.51

Shares used in computing net income attributable to Fiserv, Inc. per share:

Basic (in shares)

534.3

561.3

Diluted (in shares)

535.4

564.7

Processing and services

Revenue

^[1]

$ 4,070

$ 4,045

Cost of goods sold and services

1,610

1,389

Product

Revenue

957

1,085

Cost of goods sold and services

$ 697

$ 684

[1]	Includes processing and other fees charged to related party investments accounted for under the equity method of $18 million and $36 million for the three months ended March 31, 2026 and 2025, respectively (see Note 6).

Accounts Payable and Other Current Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Payables and Accruals [Abstract]
Trade accounts payable	$ 930	$ 797
Client deposits	1,012	988
Transferrable federal tax credits	7	801
Accrued compensation and benefits	271	299
Accrued taxes	403	368
Accrued interest	282	417
Accrued payment network fees	303	297
Operating lease liabilities	124	126
Accrued professional fees	147	161
Other accrued expenses	1,112	1,053
Total	$ 4,591	$ 5,307

Shares Used in Computing Net Income Per Share Attributable to Fiserv, Inc. - Schedule of Weighted-Average Number of Shares (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Earnings Per Share [Abstract]
Weighted-average common shares outstanding used for the calculation of net income attributable to Fiserv, Inc. per share – basic (in shares)	534.3	561.3
Common stock equivalents (in shares)	1.1	3.4
Weighted-average common shares outstanding used for the calculation of net income attributable to Fiserv, Inc. per share – diluted (in shares)	535.4	564.7

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Net income	$ 573	$ 848
Other comprehensive (loss) income:
Fair market value adjustment on derivatives	(17)	3
Tax impacts of derivatives	3	(2)
Foreign currency translation	(17)	197
Tax impacts of foreign currency translation (see Note 7)	(26)	40
Total other comprehensive (loss) income	(50)	243
Comprehensive income	523	1,091
Less: net income (loss) attributable to noncontrolling interests	2	(3)
Less: other comprehensive income attributable to noncontrolling interests	1	17
Comprehensive income attributable to Fiserv, Inc.	520	1,077
Foreign currency forward exchange contracts
Other comprehensive (loss) income:
Reclassification adjustment for net realized losses (gains) on cash flow hedges	4	2
Treasury Lock
Other comprehensive (loss) income:
Reclassification adjustment for net realized losses (gains) on cash flow hedges	$ 3	$ 3

Fair Value Measurements

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

The fair values of cash equivalents, trade accounts receivable, other current assets, settlement assets and obligations, accounts payable, and client deposits approximate their respective carrying values due to the short period of time to maturity. Derivative instruments maintained by the Company (see Note 7) are measured on a recurring basis based on benchmark interest rates, foreign currency spot rates and forwards quoted by banks and foreign currency dealers and are marked to market each period. Contingent consideration related to certain of the Company’s acquisitions (see Note 4) is estimated using a probability-weighted assessment approach based on the likelihood of achieving the earn-out criteria. The fair value of the Company’s contingent liability for current expected credit losses associated with its debt guarantees, as further described below, is estimated based on assumptions of future risk of default and the corresponding level of credit losses at the time of default.

Assets and liabilities measured at fair value on a recurring basis consisted of the following:

Fair Value

(In millions)

Classification

Fair Value Hierarchy

March 31, 2026

December 31, 2025

Assets

Cross-currency rate swap contracts designated as net investment hedges

Other long-term assets

Level 2

—

Fixed-to-floating interest rate swap contract designated as fair value hedge

Other long-term assets

Level 2

—

Liabilities

Cross-currency rate swap contracts designated as net investment hedges

Accounts payable and other current liabilities

Level 2

Forward exchange contracts designated as cash flow hedges

Accounts payable and other current liabilities

Level 2

Forward exchange contracts designated as cash flow hedges

Other long-term liabilities

Level 2

Cross-currency rate swap contracts designated as net investment hedges

Other long-term liabilities

Level 2

Fixed-to-floating interest rate swap contracts designated as fair value hedges

Other long-term liabilities

Level 2

—

Contingent consideration

Accounts payable and other current liabilities

Level 3

Contingent consideration

Other long-term liabilities

Level 3

Contingent debt guarantee

Other long-term liabilities

Level 3

Debt

The Company’s senior notes are recorded at amortized cost but measured at fair value for disclosure purposes. The estimated fair value of senior notes was based on matrix pricing which considers readily observable inputs of comparable securities (Level 2 of the fair value hierarchy). A portion of the Company’s senior notes are designated under a fair value hedging relationship (see Note 7), and therefore changes in fair value attributable to changes in the designated benchmark interest rate are included in the carrying value of the hedged senior notes within the consolidated balance sheet. The carrying value of the Company’s foreign lines of credit, commercial paper notes and revolving credit facility borrowings approximates fair value as these instruments have variable interest rates and the Company has not experienced any change to its credit ratings (Level 2 of the fair value hierarchy). The estimated fair value of total debt, excluding finance leases and other financing obligations, was $26.0 billion and $26.4 billion at March 31, 2026 and December 31, 2025, respectively, and the carrying value was $26.9 billion at both March 31, 2026 and December 31, 2025.

Debt Guarantee Arrangements

The Lending Joint Ventures (see Note 6) maintain variable-rate term loan facilities with aggregate outstanding borrowings of $393 million in senior unsecured debt at March 31, 2026 and variable-rate revolving credit facilities with an aggregate borrowing capacity of $83 million with a syndicate of banks, which mature in April 2027. There were $44 million of aggregate outstanding borrowings on the revolving credit facilities at March 31, 2026. The Company has guaranteed the debt of the Lending Joint Ventures.

The Company maintains liabilities for its obligations to perform over the term of its debt guarantee arrangements with the Lending Joint Ventures, which are reported within other long-term liabilities in the consolidated balance sheets. The Company has provided aggregate guarantees of $476 million associated with the debt of the Lending Joint Ventures and is entitled to receive a defined fee in exchange for its guarantee of this indebtedness. The Company has not made any payments under the guarantees, nor has it been called upon to do so, and does not anticipate that the Lending Joint Ventures will fail to fulfill their debt obligations.

The non-contingent component of the Company’s debt guarantee arrangements is recorded at amortized cost, but measured at fair value for disclosure purposes. The carrying value of the Company’s non-contingent liability of $9 million and $12 million approximates the fair value at March 31, 2026 and December 31, 2025, respectively (Level 3 of the fair value hierarchy). Such guarantees will be amortized in future periods over the contractual term of the debt. The contingent component of the Company’s debt guarantee arrangements represents the current expected credit losses to which the Company is exposed. The amount of the liability, as reflected within the table above, is estimated based on certain financial metrics of the Lending Joint Ventures and historical industry data, which is used to develop assumptions of the likelihood the guaranteed parties will default and the level of credit losses in the event a default occurs. The Company recognized $4 million and $5 million during the three months ended March 31, 2026 and 2025, respectively, within other income (expense), net in its consolidated statements of income related to its release from risk under the non-contingent guarantees as well as a change in the provision of estimated credit losses associated with the indebtedness of the Lending Joint Ventures.

Other Non-Financial Assets

Certain of the Company’s non-financial assets are measured at fair value on a non-recurring basis, including property and equipment, lease right-of-use assets, equity securities without a readily determinable fair value, goodwill and other intangible assets, and are subject to fair value adjustment in certain circumstances.

Business Segment Information - Schedule of Segment Reporting Information (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2026

Mar. 31, 2025

Revenues:

Revenue

$ 5,027

$ 5,130

Expenses:

Reportable segment operating income

918

1,395

Interest expense, net

(347)

(331)

Other income (expense), net

(18)

Income before income taxes and income (loss) from investments in unconsolidated affiliates

593

1,046

Depreciation and amortization

831

779

Capitalized expenditures, including capitalized software and other intangibles

458

335

Change in estimated redemption value of redeemable noncontrolling interest (see Note 11)

Operating segments

Revenues:

Revenue

4,675

4,789

Expenses:

Reportable segment operating income

1,503

1,958

Corporate and Other

Revenues:

Revenue

352

341

Expenses:

Reportable segment operating income

(585)

(563)

Depreciation and amortization

512

504

Capitalized expenditures, including capitalized software and other intangibles

114

Corporate and Other

Revenues:

Revenue

352

341

Merchant Segment | Operating segments

Revenues:

Revenue

2,373

2,372

Expenses:

Personnel expenses

362

330

Direct costs

868

823

Depreciation and amortization expense

125

Other operating expense

197

147

Reportable segment operating income

626

810

Depreciation and amortization

142

112

Capitalized expenditures, including capitalized software and other intangibles

151

Merchant Segment | Corporate and Other

Expenses:

Other operating expense

195

166

Financial Segment | Operating segments

Revenues:

Revenue

2,302

2,417

Expenses:

Personnel expenses

543

498

Direct costs

176

189

Depreciation and amortization expense

135

122

Other operating expense

125

Reportable segment operating income

877

1,148

Depreciation and amortization

177

163

Capitalized expenditures, including capitalized software and other intangibles

193

145

Financial Segment | Corporate and Other

Expenses:

Other operating expense

446

372

Processing and services revenue

Revenues:

Revenue

^[1]

4,070

4,045

Processing and services revenue | Merchant Segment | Operating segments

Revenues:

Revenue

2,108

2,053

Processing and services revenue | Financial Segment | Operating segments

Revenues:

Revenue

1,962

1,992

Product revenue

Revenues:

Revenue

957

1,085

Product revenue | Merchant Segment | Operating segments

Revenues:

Revenue

265

319

Product revenue | Financial Segment | Operating segments

Revenues:

Revenue

$ 340

$ 425

[1]	Includes processing and other fees charged to related party investments accounted for under the equity method of $18 million and $36 million for the three months ended March 31, 2026 and 2025, respectively (see Note 6).

Investments in Unconsolidated Affiliates	3 Months Ended
Investments in Unconsolidated Affiliates	Mar. 31, 2026
Investments in and Advances to Affiliates [Abstract]
Investments in Unconsolidated Affiliates	Investments in Unconsolidated Affiliates The Company maintains investments in various affiliates that are accounted for as equity method investments, the most significant of which are related to the Company’s merchant alliances. The Company’s share of net income or loss from these investments is reported within income (loss) from investments in unconsolidated affiliates and the related tax expense or benefit is reported within the income tax provision in the consolidated statements of income. The Company reviews its equity method investments each reporting period for indications of an other-than-temporary decline in value, including any significant changes in business relationships with merchant alliances. A decline in value of an equity method investment determined to be other-than-temporary is recorded as a current-period impairment charge within income (loss) from investments in unconsolidated affiliates in the consolidated statements of income. Merchant Alliances The Company maintains ownership interests in certain merchant alliances, which combine the processing capabilities and management expertise of the Company with the visibility and distribution channel of a financial institution. A merchant alliance acquires credit and debit card transactions from merchants. The formation of these alliances generally involves the Company and the financial institution contributing contracts with merchants to the alliance and a cash payment from one owner of the alliance to the other to achieve the desired ownership percentage for each. The Company and the financial institution enter into a long-term processing service agreement, which governs the Company’s provision of transaction processing services to the alliance. Fees charged to merchant alliances, based on contractual pricing, are recognized in the Company’s consolidated statements of income primarily as processing and services revenue, and totaled $18 million and $32 million for the three months ended March 31, 2026 and 2025, respectively. The Company’s investment in its merchant alliances was $723 million and $736 million at March 31, 2026 and December 31, 2025, respectively, and is reported within investments in unconsolidated affiliates in the consolidated balance sheets. The Company maintained a 40% ownership interest in the Wells Fargo Merchant Services merchant alliance (“WFMS”), which was accounted for as an equity method investment. The Company acquired its ownership, at fair value, in WFMS through its 2019 acquisition of First Data Corporation. In 2024, Wells Fargo Bank, National Association (“Wells Fargo”) provided the Company with a notice of non-renewal for WFMS and upon the expiration of the joint venture in April 2025, the Company received a cash payment of $453 million. Other Equity Method Investments The Company maintains noncontrolling ownership interests in Sagent M&C, LLC and defi SOLUTIONS Group, LLC (collectively the “Lending Joint Ventures”), which are accounted for under the equity method. The Company’s net investment in the Lending Joint Ventures was $83 million and $88 million at March 31, 2026 and December 31, 2025, respectively, and is reported within investments in unconsolidated affiliates in the consolidated balance sheets. The Company has guaranteed the debt of the Lending Joint Ventures and does not anticipate that the Lending Joint Ventures will fail to fulfill their debt obligations (see Note 8). In addition, the Company maintains other strategic investments accounted for under the equity method. The Company’s aggregate investments in such entities was $212 million and $208 million at March 31, 2026 and December 31, 2025, respectively, and is reported within investments in unconsolidated affiliates in the consolidated balance sheets. Other Equity Investments The Company also maintains investments, over which it does not have significant influence, in various equity securities without a readily determinable fair value. Such investments totaled $114 million and $126 million at March 31, 2026 and December 31, 2025, respectively, and are primarily included within other long-term assets in the consolidated balance sheets. The Company reviews these investments each reporting period to determine whether an impairment or observable price change for the investment has occurred. To the extent such events or changes occur, the Company evaluates the fair value compared to its cost basis in the investment. Gains or losses from a sale of these investments or a change in fair value are included within other income (expense), net in the consolidated statements of income for the period. Adjustments made for observable price changes to the values recorded for certain equity securities and net gains or losses from sales of equity securities were not significant during each of the three months ended March 31, 2026 and 2025.

Shares Used in Computing Net Income Per Share Attributable to Fiserv, Inc.

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Shares Used in Computing Net Income Per Share Attributable to Fiserv, Inc.

The computation of shares used in calculating basic and diluted net income per share is as follows:


	Three Months Ended March 31,
(In millions)	2026	2025
Weighted-average common shares outstanding used for the calculation of net income attributable to Fiserv, Inc. per share - basic	534.3	561.3
Common stock equivalents	1.1	3.4
Weighted-average common shares outstanding used for the calculation of net income attributable to Fiserv, Inc. per share - diluted	535.4	564.7

For the three months ended March 31, 2026 and 2025, restricted stock units for 5.3 million and 688 thousand shares, respectively, were excluded from the calculation of weighted-average outstanding shares - diluted because their impact was anti-dilutive.

Debt - Schedule of Foreign Lines of Credit by Country (Details) - Foreign lines of credit - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Debt Instrument [Line Items]
Outstanding Borrowings	$ 767	$ 762
Weighted-Average Interest Rate	17.741%	27.727%
Argentina
Debt Instrument [Line Items]
Outstanding Borrowings	$ 154	$ 282
Weighted-Average Interest Rate	35.787%	51.559%
Brazil
Debt Instrument [Line Items]
Outstanding Borrowings	$ 472	$ 365
Weighted-Average Interest Rate	15.294%	15.482%
Uruguay and Other
Debt Instrument [Line Items]
Outstanding Borrowings	$ 141	$ 115
Weighted-Average Interest Rate	6.242%	7.964%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/exampleRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 31: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Income Taxes (Tables)

3 Months Ended

Mar. 31, 2026

Income Tax Disclosure [Abstract]

Schedule of income tax provision and effective income tax rate

The Company’s income tax provision and effective income tax rate were as follows:


	Three Months Ended March 31,
(In millions)	2026			2025
Components of income tax provision (benefit):
Current:
Federal	$	(2)		$	124
State	43			36
Foreign	41			66
	82			226
Deferred:
Federal	171			(15)
State	9			(3)
Foreign	(238)			(19)
	(58)			(37)
Income tax provision	$	24		$	190

Effective income tax rate	4.0		%	18.2		%

Debt (Tables)

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Schedule of debt, net of discounts and debt issuance costs

The Company’s debt consisted of the following at:


(In millions)	March 31, 2026		December 31, 2025
Short-term and current maturities of long-term debt:
Foreign lines of credit	$	767	$	762
Finance lease and other financing obligations	556		477
Total short-term and current maturities of long-term debt	$	1,323	$	1,239

Long-term debt:
3.200% senior notes due July 2026	$	2,000	$	2,000
5.150% senior notes due March 2027	750		750
2.250% senior notes due June 2027	1,000		1,000
1.125% senior notes due July 2027 (Euro-denominated)	575		589
5.450% senior notes due March 2028	900		900
2.875% senior notes due June 2028 (Euro-denominated)	862		883
5.375% senior notes due August 2028	700		700
4.200% senior notes due October 2028	1,000		1,000
3.500% senior notes due July 2029	3,000		3,000
4.750% senior notes due March 2030	850		850
2.650% senior notes due June 2030	1,000		1,000
1.625% senior notes due July 2030 (Euro-denominated)	575		589
4.550% senior notes due February 2031	1,000		1,000
5.350% senior notes due March 2031	500		500
4.500% senior notes due May 2031 (Euro-denominated)	919		942
3.000% senior notes due July 2031 (British Pound-denominated)	695		709
3.500% senior notes due June 2032 (Euro-denominated)	890		912
5.600% senior notes due March 2033	900		900
5.625% senior notes due August 2033	1,300		1,300
5.450% senior notes due March 2034	750		750
5.150% senior notes due August 2034	900		900
5.250% senior notes due August 2035	1,000		1,000
4.000% senior notes due June 2036 (Euro-denominated)	747		765
4.400% senior notes due July 2049	2,000		2,000
U.S. dollar commercial paper notes	560		326
Euro commercial paper notes	682		839
Revolving credit facility	221		188


Unamortized discount and deferred financing costs	(161)		(169)
Fair value hedge accounting adjustments (see Note 8)	(1)		—
Finance lease and other financing obligations	1,745		1,635
Total long-term debt	$	27,859	$	27,758

Schedule of short-term debt

The following table provides a summary of the outstanding borrowings and weighted average interest rates of the Company’s foreign lines of credit and other borrowing arrangements by country:


	Outstanding Borrowings (In millions)				Weighted-Average Interest Rate
	March 31, 2026		December 31, 2025		March 31, 2026		December 31, 2025
Argentina	$	154	$	282	35.787	%	51.559	%
Brazil	472		365		15.294	%	15.482	%
Uruguay and Other	141		115		6.242	%	7.964	%
Total	$	767	$	762	17.741	%	27.727	%

Debt - Narrative (Details) € in Millions, $ in Millions	3 Months Ended
Debt - Narrative (Details) € in Millions, $ in Millions	Mar. 31, 2026 USD ($)	Dec. 31, 2025 USD ($)	Aug. 12, 2025 USD ($)	Aug. 11, 2025 USD ($)	Jul. 31, 2025	May 07, 2025 EUR (€)
Foreign lines of credit
Debt Instrument [Line Items]
Weighted-Average Interest Rate	17.741%	27.727%
Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount				$ 2,000
Debt instrument, interest rate, increase (decrease) due to credit rating below investment grade	2.00%
Senior Notes \| Fiserv Funding Unlimited Company
Debt Instrument [Line Items]
Debt instrument, face amount \| €						€ 2,175
Senior Notes \| 4.550% senior notes due February 2031
Debt Instrument [Line Items]
Debt instrument, face amount				$ 1,000
Debt instrument, interest rate	4.55%			4.55%
Outstanding borrowings	$ 1,000	$ 1,000
Senior Notes \| 5.250% senior notes due August 2035
Debt Instrument [Line Items]
Debt instrument, face amount				$ 1,000
Debt instrument, interest rate	5.25%			5.25%
Outstanding borrowings	$ 1,000	1,000
Senior Notes \| 2.875% senior notes due June 2028 (Euro-denominated)
Debt Instrument [Line Items]
Outstanding borrowings	$ 862	883
Senior Notes \| 2.875% senior notes due June 2028 (Euro-denominated) \| Fiserv Funding Unlimited Company
Debt Instrument [Line Items]
Debt instrument, face amount \| €						€ 750
Debt instrument, interest rate	2.875%					2.875%
Senior Notes \| 3.500% senior notes due June 2032 (Euro-denominated)
Debt Instrument [Line Items]
Outstanding borrowings	$ 890	912
Senior Notes \| 3.500% senior notes due June 2032 (Euro-denominated) \| Fiserv Funding Unlimited Company
Debt Instrument [Line Items]
Debt instrument, face amount \| €						€ 775
Debt instrument, interest rate	3.50%					3.50%
Senior Notes \| 4.0% Senior Notes Due June 2036
Debt Instrument [Line Items]
Outstanding borrowings	$ 747	765
Senior Notes \| 4.0% Senior Notes Due June 2036 \| Fiserv Funding Unlimited Company
Debt Instrument [Line Items]
Debt instrument, face amount \| €						€ 650
Debt instrument, interest rate	4.00%					4.00%
Senior Notes \| 3.85% Senior Notes Due June 2025
Debt Instrument [Line Items]
Debt instrument, interest rate						3.85%
Senior Notes \| 2.25% Senior Notes Due July 2025
Debt Instrument [Line Items]
Debt instrument, interest rate					2.25%	2.25%
Senior Notes \| 4.750% senior notes due March 2030
Debt Instrument [Line Items]
Debt instrument, interest rate	4.75%
Outstanding borrowings	$ 850	850
Senior Notes \| 5.150% senior notes due August 2034
Debt Instrument [Line Items]
Debt instrument, interest rate	5.15%
Outstanding borrowings	$ 900	900
Senior Notes \| 5.150% senior notes due March 2027
Debt Instrument [Line Items]
Debt instrument, interest rate	5.15%
Outstanding borrowings	$ 750	750
Senior Notes \| 5.350% senior notes due March 2031
Debt Instrument [Line Items]
Debt instrument, interest rate	5.35%
Outstanding borrowings	$ 500	500
Senior Notes \| 5.450% senior notes due March 2034
Debt Instrument [Line Items]
Debt instrument, interest rate	5.45%
Outstanding borrowings	$ 750	750
Senior Notes \| 3.200% senior notes due July 2026
Debt Instrument [Line Items]
Debt instrument, interest rate	3.20%
Outstanding borrowings	$ 2,000	2,000
Commercial Paper \| U.S. dollar commercial paper notes
Debt Instrument [Line Items]
Debt maturities (in days)	397 days
Outstanding borrowings	$ 560	$ 326
Weighted-Average Interest Rate	4.009%	3.851%
Commercial Paper \| Euro commercial paper notes
Debt Instrument [Line Items]
Debt maturities (in days)	183 days
Outstanding borrowings	$ 682	$ 839
Weighted-Average Interest Rate	2.33%	2.21%
Revolving credit facility \| Line of Credit
Debt Instrument [Line Items]
Outstanding borrowings	$ 221	$ 188
Weighted-Average Interest Rate	4.655%	4.685%
Maximum borrowing capacity			$ 8,000
Outstanding borrowings	$ 221	$ 188
Debt instrument, covenant, debt-to-EBITDA ratio	3.75

Acquisitions and Other Transactions	3 Months Ended
Acquisitions and Other Transactions	Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]
Acquisitions and Other Transactions	Acquisitions and Other Transactions Acquisitions were accounted for as business combinations using the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations. Purchase price was allocated to the respective identifiable assets acquired and liabilities assumed based on the estimated fair values at the date of acquisitions. The results of operations for the following acquired businesses are included in the consolidated results of the Company from the respective dates of acquisition. Pro forma information for these acquired businesses is not provided because they did not have a material effect, individually or in the aggregate, on the Company’s consolidated results of operations. Acquisitions of Businesses Acquisition of StoneCastle On December 17, 2025, the Company acquired StoneCastle Cash Management, LLC, INDX Processing, LLC and StoneCastle Trust Co. (collectively, “StoneCastle”), a provider of deposit funding solutions, for $416 million, net of $4 million of acquired cash. StoneCastle is included within the Financial segment and provides its network of depository institutions easy access to stable, cost efficient deposit funding. The preliminary allocation of purchase price resulted in the recognition of identifiable intangible assets of approximately $165 million, primarily acquired software and technology with an estimated useful life of 7 years, approximately $247 million of goodwill and $8 million of other net assets, including acquired cash. The allocation of the purchase price is preliminary and is subject to further adjustment, pending additional refinement and final completion of valuations. Goodwill, which is expected to be deductible for tax purposes, is primarily attributed to the anticipated value created by enabling the Company to offer technology-enabled deposit funding solutions to both its financial institution customers and merchant acquiring enterprise clients. Acquisition of CCV On March 18, 2025, the Company acquired CCV Group B.V. (“CCV”), a Netherlands-based supplier of POS payment solutions, for $219 million, net of $34 million of acquired cash. CCV is included within the Merchant segment and expands the Company’s network of payment solutions. During the first quarter of 2026, the Company identified and recorded measurement period adjustments to the preliminary CCV purchase price allocation, including refinements to valuations of acquired intangible assets, which were the result of additional analysis performed and information identified based on facts and circumstances that existed as of the acquisition date. These measurement period adjustments resulted in a decrease to identifiable intangible assets of $15 million, an increase in goodwill of $14 million, and an increase in other net assets of $1 million. Such measurement period adjustments did not have a material impact on the Company’s consolidated statement of income. The allocation of the purchase price was finalized in the first quarter of 2026 and resulted in the recognition of identifiable intangible assets, including customer relationships, of $103 million with a useful life of 8 years, acquired software and technology of $2 million with a useful life of 1 year and an acquired trademark of $4 million with a useful life of 2 years; $120 million of goodwill; and $24 million of other net assets, including acquired cash. Goodwill, which is not deductible for tax purposes, is primarily attributed to the anticipated value created by enabling the Company’s ability to accelerate the deployment of its Clover® POS and business management platform, providing enhanced capabilities and innovation to an expansive combined merchant and partner base across Europe. Acquisition of Payfare On March 2, 2025, the Company acquired Payfare, Inc. (“Payfare”), a Canada-based provider of program management solutions powering instant access to earnings and banking solutions for workforces, for a purchase price of $95 million, net of $46 million of acquired cash. Payfare is included within the Financial segment and expands the Company’s embedded finance capabilities. The allocation of the purchase price was finalized in the fourth quarter of 2025 and resulted in the recognition of identifiable intangible assets, including acquired software and technology of $22 million with a useful life of 7 years and customer relationships of $14 million with a useful life of 14 years; $56 million of goodwill; and $49 million of other net assets, including acquired cash. Goodwill, which is not deductible for tax purposes, is primarily attributed to the anticipated value created by further enhancing the Company’s finance solutions in embedded banking, payments and lending for large enterprises and financial institutions. Other Acquisitions On October 1, 2025, the Company acquired a portion of The Toronto-Dominion Bank’s merchant processing business in Canada (“TD Merchant Canada”). TD Merchant Canada is included within the Merchant segment and expands the footprint of the Company’s Clover platform. On September 25, 2025, the Company acquired the Smith Consulting Group, LLC business (“SCG”), an operational consulting service utilized by community banks and credit unions across the U.S. SCG is included within the Financial segment and supports the Company’s ability to provide consultative engagement to enhance community banks’ and credit unions’ strategic investments. On September 4, 2025, the Company acquired CardFree Inc. (“CardFree”), an all-in-one platform delivering integrated order, payment and loyalty solutions for merchants. CardFree is included within the Merchant segment and further expands the capabilities of the Company’s Clover platform across the hospitality, restaurant and lodging industries. On June 4, 2025, the Company acquired Money Money Serviços Financeiros S.A. (“Money Money”), a Brazil-based provider of risk analysis and credit decisioning solutions. Money Money is included within the Merchant segment and expands the Company’s payment and financial service capabilities, enabling access to working capital and other payment solutions for small and medium-sized businesses. On April 4, 2025, the Company acquired Pinch Payments NZ Limited (together with Zootive Pty Ltd, “Pinch Payments”), an Australia-based payment facilitator. Pinch Payments is included within the Merchant segment and expands the Company’s flexible payment services for its partners and clients, and presence within the Asia-Pacific region. The Company acquired these businesses for an aggregate purchase price, including deferred payments, of $127 million, including earn-out provisions estimated at a fair value of $35 million (see Note 8). The allocation of purchase price for these acquisitions resulted in the recognition of identifiable intangible assets, including software and technology of $31 million with a weighted average useful life of 7 years and customer relationships of $18 million with a weighted average useful life of 6 years; $73 million of goodwill; and $5 million of other net assets. The purchase price allocations for Money Money and Pinch Payments were finalized in the third quarter of 2025, for SCG in the fourth quarter of 2025, and for CardFree and TD Merchant Canada in the first quarter of 2026. Measurement period adjustments in the first quarter of 2026 did not have a material impact on the Company’s consolidated statement of income. Goodwill for these acquisitions is primarily attributed to the anticipated value created by expanding the reach of the Company’s Clover POS and business management platform and further enabling the Company’s payment solutions, financial service capabilities and advisory services for financial institutions. For tax purposes, goodwill related to the SCG and TD Merchant Canada acquisitions is deductible; however, goodwill related to the Money Money, Pinch Payments and CardFree acquisitions is not deductible. Other Transactions On September 5, 2025, the Company acquired the remaining 49.9% ownership interest, including cash held of $195 million, in AIB Merchant Services (“AIBMS”), an Ireland-based payments solution provider, for $420 million. On April 17, 2025, the Company acquired the remaining 19% ownership interest in ICICI Merchant Services Private Limited, an India-based merchant acceptance business, for $22 million. The Company previously held a majority controlling financial interest in each of these subsidiaries, which continue to be consolidated and reported within the Merchant segment.

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities
Net income	$ 573	$ 848
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and other amortization	508	437
Amortization of acquisition-related intangible assets	311	331
Amortization of financing costs and debt discounts	12	11
Share-based compensation	118	124
Deferred income taxes	(58)	(37)
Net gain on sale of assets	(83)	(20)
(Income) loss from investments in unconsolidated affiliates	(4)	8
Distributions from unconsolidated affiliates	8	10
Non-cash foreign currency exchange (gains) losses	(21)	38
Other operating activities	15	9
Changes in assets and liabilities, net of effects from acquisitions:
Trade accounts receivable	108	(146)
Prepaid expenses and other assets	(175)	(465)
Contract costs	(74)	(72)
Accounts payable and other liabilities	(606)	(445)
Contract liabilities	(33)	17
Net cash provided by operating activities	599	648
Cash flows from investing activities
Capital expenditures, including capitalized software and other intangibles	(458)	(335)
Proceeds from sale of assets	187	0
Merchant cash advances, including Clover Capital program	(291)	0
Repayment of merchant cash advances, including Clover Capital program	294	0
Settlement anticipation cash advances, net	63	(243)
Payments for acquisition of businesses, net of cash acquired	0	(316)
Distributions from unconsolidated affiliates	4	0
Purchases of investments	(3)	(32)
Proceeds from sale of investments	8	0
Other investing activities	(5)	1
Net cash used in investing activities	(201)	(925)
Cash flows from financing activities
Debt proceeds	409	776
Debt repayments	(633)	(955)
Net borrowings from commercial paper and short-term borrowings	107	2,696
Proceeds from issuance of treasury stock	12	24
Purchases of treasury stock, including employee shares withheld for tax obligations	(240)	(2,352)
Settlement activity, net	(578)	434
Other financing activities	0	4
Net cash (used in) provided by financing activities	(923)	627
Effect of exchange rate changes on cash and cash equivalents	(27)	26
Net change in cash and cash equivalents	(552)	376
Cash and cash equivalents, beginning balance	2,802	2,993
Cash and cash equivalents, ending balance	$ 2,250	$ 3,369

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2026	Dec. 31, 2025
Fiserv, Inc. Shareholders’ Equity:
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,800,000,000	1,800,000,000
Common stock, shares issued (in shares)	784,000,000	784,000,000
Treasury stock (in shares)	251,000,000	250,000,000

Commitments and Contingencies (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Loss Contingencies [Line Items]
Subscriber funds	$ 1,300	$ 1,700
Subsidiary Merchant Matters \| Minimum
Loss Contingencies [Line Items]
Estimated range of exposure	0
Subsidiary Merchant Matters \| Maximum
Loss Contingencies [Line Items]
Estimated range of exposure	160
First Data \| First Data Subsidiary Merchant Matters
Loss Contingencies [Line Items]
Loss contingency accrual	$ 26	$ 25

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Equity investments \| Related Party Fees
Processing, administrative, and other fees	$ 18	$ 36

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Restrictions on cash and cash equivalents

The following table provides a reconciliation between cash and cash equivalents on the consolidated balance sheets and the consolidated statements of cash flows:


(In millions)	March 31, 2026		December 31, 2025		March 31, 2025
Cash and cash equivalents on the consolidated balance sheets	$	829	$	798	$	1,177
Cash and cash equivalents included in settlement assets	1,400		1,978		2,190
Restricted cash	21		26		2
Total cash and cash equivalents on the consolidated statements of cash flows	$	2,250	$	2,802	$	3,369

Schedule of cash and cash equivalents

The following table provides a reconciliation between cash and cash equivalents on the consolidated balance sheets and the consolidated statements of cash flows:


(In millions)	March 31, 2026		December 31, 2025		March 31, 2025
Cash and cash equivalents on the consolidated balance sheets	$	829	$	798	$	1,177
Cash and cash equivalents included in settlement assets	1,400		1,978		2,190
Restricted cash	21		26		2
Total cash and cash equivalents on the consolidated statements of cash flows	$	2,250	$	2,802	$	3,369

Deferred costs, capitalized, prepaid, and other assets disclosure

Prepaid expenses and other current assets consisted of the following:


(In millions)	March 31, 2026		December 31, 2025
Prepaid maintenance, postage and insurance	$	437	$	334


Other prepaid expenses	278		269
Total prepaid expenses (1)	715		603

Income tax receivables (2)	121		148
Net merchant cash advances, including Clover Capital program	560		564
Settlement anticipation cash advances	1,200		1,223
Other current assets	815		858
Total other current assets	2,696		2,793
Total prepaid expenses and other current assets	$	3,411	$	3,396

(1)Prepaid expenses represent advance payments for goods and services to be consumed in the future.

(2)Includes receivables associated with transferable federal tax credits (see Note 14).

Schedule of interest expense, net

Interest expense, net consisted of the following:


	Three Months Ended March 31,
(In millions)	2026		2025
Interest expense	$	(361)	$	(339)
Interest income	14		8
Interest expense, net	$	(347)	$	(331)

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Equity

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Equity

The following tables provide changes in equity during the three months ended March 31, 2026 and 2025:


	Fiserv, Inc. Shareholders’ Equity

Three Months Ended March 31, 2026	Number of Shares		Amount
(In millions)	Common Shares	Treasury Shares	Common Stock		Additional Paid-In Capital		Accumulated Other Comprehensive Loss		Retained Earnings		Treasury Stock		Noncontrolling Interests		Total Equity

Balance at December 31, 2025	784	250	$	8	$	23,260	$	(984)	$	27,055	$	(23,547)	$	17	$	25,809
Net income									571				2		573


Other comprehensive income							(51)						1		(50)
Share-based compensation					118										118
Shares issued under stock plans		(2)			(167)						138				(29)
Purchases of treasury stock		3									(200)				(200)


Balance at March 31, 2026	784	251	$	8	$	23,211	$	(1,035)	$	27,626	$	(23,609)	$	20	$	26,221


	Fiserv, Inc. Shareholders’ Equity

Three Months Ended March 31, 2025	Number of Shares		Amount
(In millions)	Common Shares	Treasury Shares	Common Stock		Additional Paid-In Capital		Accumulated Other Comprehensive Loss		Retained Earnings		Treasury Stock				Total Equity
													Noncontrolling Interests
Balance at December 31, 2024	784	220	$	8	$	23,080	$	(1,413)	$	23,575	$	(18,182)	$	618	$	27,686
Net income									851				(3)		848


Other comprehensive income							226						17		243
Share-based compensation					124										124
Shares issued under stock plans		(2)			(383)						162				(221)
Purchases of treasury stock		10									(2,164)				(2,164)
Capital contribution from noncontrolling interest													5		5
Balance at March 31, 2025	784	228	$	8	$	22,821	$	(1,187)	$	24,426	$	(20,184)	$	637	$	26,521

- Definition

The entire disclosure for equity.

+ References

+ Details

Basis of Presentation and Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Basis of Presentation

Principles of Consolidation

Use of Estimates

Cash and Cash Equivalents

Allowance for Doubtful Accounts

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:


(In millions)	March 31, 2026		December 31, 2025
Prepaid maintenance, postage and insurance	$	437	$	334


Other prepaid expenses	278		269
Total prepaid expenses (1)	715		603

Income tax receivables (2)	121		148
Net merchant cash advances, including Clover Capital program	560		564
Settlement anticipation cash advances	1,200		1,223
Other current assets	815		858
Total other current assets	2,696		2,793
Total prepaid expenses and other current assets	$	3,411	$	3,396

(1)Prepaid expenses represent advance payments for goods and services to be consumed in the future.

(2)Includes receivables associated with transferable federal tax credits (see Note 14).

Settlement Assets and Obligations

Allowance for Merchant Credit Losses

Property and Equipment

Goodwill

Foreign Currency

Derivatives

Redeemable Noncontrolling Interest

Interest Expense, Net

Recent Accounting Pronouncements

Recently Adopted Accounting Pronouncement

In 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”), which provides a practical expedient for estimating expected credit losses on current trade receivables and contract assets by assuming that current conditions persist over the life of these assets. For all entities, the provisions within ASU 2025-05 are effective for annual reporting periods beginning after December 15, 2025, and for interim reporting periods within those annual reporting periods. The provisions within ASU 2025-05 are required to be applied prospectively. The Company adopted ASU 2025-05 effective January 1, 2026, and the adoption did not have a material impact on the Company’s consolidated financial statements.

Recently Issued Accounting Pronouncements

In 2025, the FASB issued ASU No. 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements (“ASU 2025-09”), which is intended to more closely align hedge accounting with the economics of an entity’s risk management activities. ASU 2025-09 includes targeted improvements, primarily related to cash flow hedging, involving expanded eligibility for grouping individual forecasted transactions with similar risk exposure; the addition of an alternative model for the application of hedge accounting to cash flow hedges of interest payments on choose-your-rate debt instruments; the ability to designate a variable price component of a forecasted purchase or sale of a nonfinancial asset; and refines the guidance for net written options as hedging instruments and for a dual hedge strategy involving foreign currency denominated debt. For public entities, the provisions within ASU 2025-09 are effective for fiscal years beginning after December 15, 2026, and for interim reporting periods within those fiscal years. The provisions within ASU 2025-09 are required to be applied prospectively. The Company is currently assessing the impact the adoption of ASU 2025-09 may have on its consolidated financial statements and disclosures.

In 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. Under ASU 2024-03, entities will be required to disaggregate information, in tabular format, about specific natural expense categories underlying certain income statement expense line items that are considered ‘relevant’, such as purchases of inventory, employee compensation, depreciation, and intangible asset amortization. Additionally, ASU 2024-03 requires the disclosure of selling expenses, along with how an entity defines such expenses. For public entities, the provisions within ASU 2024-03 (as further clarified through ASU No. 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)) are effective for the first annual reporting period beginning after December 15, 2026, and for interim reporting periods within annual reporting periods beginning after December 15, 2027. The provisions within ASU 2024-03 are required to be applied prospectively; however, such provisions may be applied retrospectively for all comparative periods following the effective date. The Company is currently assessing the impact the adoption of ASU 2024-03 will have on its consolidated financial statement disclosures.

In 2025, the FASB issued ASU No. 2025-06, Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”), to modernize the accounting guidance for costs to develop software for internal use. ASU 2025-06 amends the existing standard that refers to various stages of a software development project to better align with current software development methods, such as agile programming. Under ASU 2025-06, cost capitalization begins when management has authorized and committed to funding the project, and it is probable the project will be completed and the software will be used to perform its intended function. For all entities, the provisions within ASU 2025-06 are effective for fiscal years beginning

after December 15, 2027, and for interim reporting periods within those fiscal years. The provisions within ASU 2025-06 can be applied either retrospectively through a cumulative-effect adjustment, prospectively to software costs incurred after the adoption date (on existing, in-process software projects or new projects), or on a modified prospective basis. The Company is currently assessing the impact the adoption of ASU 2025-06 will have on its consolidated financial statements and disclosures.

In 2025, the FASB issued ASU No. 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities (“ASU 2025-10”), which amends Topic 832 to provide specific guidance on the recognition, measurement, presentation and disclosure of government grants received by business entities, including both monetary and certain non-monetary grants. For public entities, the provisions within ASU 2025-10 are effective for annual and interim periods beginning after December 15, 2028, with early adoption permitted. The provisions within ASU 2025-10 can be applied either on a modified prospective, modified retrospective, or on a retrospective approach through a cumulative-effect adjustment. The Company is currently assessing the impact the adoption of ASU 2025-10 will have on its consolidated financial statements and disclosures.

Revenue Recognition

Fair Value Measurements

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Assets
Cash and cash equivalents	$ 829	$ 798
Trade accounts receivable, less allowance for doubtful accounts	3,882	3,981
Prepaid expenses and other current assets	3,411	3,396
Settlement assets	16,660	16,479
Total current assets	24,782	24,654
Property and equipment, net	3,225	3,084
Intangible assets, net	9,982	10,161
Goodwill	37,602	37,703
Contract costs, net	1,056	1,039
Investments in unconsolidated affiliates	1,028	1,046
Other long-term assets	2,873	2,446
Total assets	80,548	80,133
Liabilities and Equity
Accounts payable and other current liabilities	4,591	5,307
Short-term and current maturities of long-term debt	1,323	1,239
Contract liabilities	844	865
Settlement obligations	16,660	16,479
Total current liabilities	23,418	23,890
Long-term debt	27,859	27,758
Deferred income taxes	1,688	1,478
Long-term contract liabilities	243	259
Other long-term liabilities	1,119	939
Total liabilities	54,327	54,324
Commitments and Contingencies (see Note 17)
Fiserv, Inc. Shareholders’ Equity:
Preferred stock, no par value: 25 million shares authorized; none issued	0	0
Common stock, $0.01 par value: 1,800 million shares authorized; 784 million shares issued	8	8
Additional paid-in capital	23,211	23,260
Accumulated other comprehensive loss	(1,035)	(984)
Retained earnings	27,626	27,055
Treasury stock, at cost, 251 million and 250 million shares, respectively	(23,609)	(23,547)
Total Fiserv, Inc. shareholders’ equity	26,201	25,792
Noncontrolling interests	20	17
Total equity	26,221	25,809
Total liabilities and equity	80,548	80,133
Customer relationships, net
Assets
Intangible assets, net	4,828	5,093
Other intangible assets, net
Assets
Intangible assets, net	$ 5,154	$ 5,068

Accounts Payable and Other Current Liabilities (Tables)

3 Months Ended

Mar. 31, 2026

Payables and Accruals [Abstract]

Schedule of accounts payable and accrued expenses

Accounts payable and other current liabilities consisted of the following:


(In millions)	March 31, 2026		December 31, 2025
Trade accounts payable	$	930	$	797
Client deposits	1,012		988
Transferable federal tax credits (see Note 14)	7		801
Accrued compensation and benefits	271		299
Accrued taxes	403		368
Accrued interest	282		417

Accrued payment network fees	303		297
Operating lease liabilities	124		126
Accrued professional fees	147		161


Other accrued expenses	1,112		1,053
Total	$	4,591	$	5,307

Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
Cash Flow Information (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Supplemental Cash Flow Elements [Abstract]
Interest paid	$ 487	$ 454
Net income taxes paid, including transferable federal tax credits	761	727
Treasury stock purchases settled after the balance sheet date	0	39
Software obtained under financing arrangements	103	513
Hardware obtained under financing arrangements	0	70
Right-of-use assets obtained in exchange for lease liabilities - operating leases	160	23
Right-of-use assets obtained in exchange for lease liabilities - finance leases	$ 309	$ 214

Fair Value Measurements - Assets and Liabilities Measured at Fair Value On a Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Level 2 \| Net Investment Hedging \| Cross-currency rate swap contracts designated as net investment hedges
Assets
Derivative asset, noncurrent	$ 3	$ 0
Liabilities
Derivative liability, current	26	29
Derivative liability, noncurrent	67	81
Level 2 \| Net Investment Hedging \| Fixed-To-Floating Interest Rate Swap
Liabilities
Derivative liability, noncurrent	2	0
Level 2 \| Fair Value Hedging \| Fixed-To-Floating Interest Rate Swap
Assets
Derivative asset, noncurrent	1	0
Level 2 \| Cash Flow Hedging \| Foreign Exchange Forward
Liabilities
Derivative liability, current	19	10
Derivative liability, noncurrent	5	1
Level 3
Liabilities
Contingent consideration, current	6	6
Contingent consideration, noncurrent	29	29
Contingent debt guarantee	$ 5	$ 6

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Income Tax Disclosure [Abstract]
Effective income tax rate	4.00%	18.20%
Effective income tax rate reconciliation, change in deferred tax assets valuation allowance, amount	$ 293
Unrecognized tax benefits, increase resulting from prior period tax positions	39
Effective income tax rate reconciliation, tax expense (benefit), share-based payment arrangement, amount	35
Increase in valuation allowance	39
Unrecognized tax benefits	138		$ 97
Decrease in unrecognized tax benefits reasonably possible	$ 3

Income Taxes

3 Months Ended

Mar. 31, 2026

Income Tax Disclosure [Abstract]

Income Taxes

The Company’s income tax provision and effective income tax rate were as follows:


	Three Months Ended March 31,
(In millions)	2026			2025
Components of income tax provision (benefit):
Current:
Federal	$	(2)		$	124
State	43			36
Foreign	41			66
	82			226
Deferred:
Federal	171			(15)
State	9			(3)
Foreign	(238)			(19)
	(58)			(37)
Income tax provision	$	24		$	190

Effective income tax rate	4.0		%	18.2		%

The income tax provision as a percentage of income before income taxes and income (loss) from investments in unconsolidated affiliates was 4.0% and 18.2% for the three months ended March 31, 2026 and 2025, respectively. The effective income tax rate for the three months ended March 31, 2026 included the impact of a $293 million benefit related to the release of a valuation allowance against certain foreign net operating loss carryforwards that were determined to be realizable during the first quarter of 2026. The Company monitors the realizability of deferred tax assets, taking into account all relevant factors, at each reporting period. This release was driven by a reevaluation of cumulative and future projected taxable income as a result of cross-border funding activities. This benefit was partially offset by a $39 million increase in U.S. federal unrecognized tax benefits for tax positions taken in prior years, $35 million in discrete tax expense from share-based awards and a $39 million increase in various other foreign valuation allowances. The net impact of these items in the first quarter of 2026 resulted in a lower effective income tax rate compared to the statutory income tax rate. The effective income tax rate for the three months ended March 31, 2025 included discrete tax benefits from share-based awards, resulting in a lower effective income tax rate compared to the statutory income tax rate.

Pursuant to provisions under the Inflation Reduction Act, the Company has purchased transferable federal tax credits from various counterparties. Such federal tax credits were purchased at negotiated discounts, resulting in an income tax benefit recorded during the three months ended March 31, 2025. Receivables associated with transferable federal tax credits are recorded within prepaid expenses and other current assets, and amounts owed to counterparties for the purchased credits are recorded within accounts payable and other current liabilities within the consolidated balance sheets.

The Company’s potential liability for unrecognized tax benefits before interest and penalties was approximately $138 million and $97 million at March 31, 2026 and December 31, 2025, respectively. The Company believes it is reasonably possible that

the liability for unrecognized tax benefits may decrease by up to $3 million over the next 12 months as a result of possible closure of tax audits, audit settlements, and the lapse of the statutes of limitations in various jurisdictions.

As of March 31, 2026, the Company’s U.S. federal income tax returns for 2020 and 2025, and tax returns in certain states and foreign jurisdictions for 2017 through 2025, remain subject to examination by taxing authorities.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details