First Data Merchant Services
- Company typePrivate
- Founded2019
- HeadquartersAtlanta, United States
- Headcount—
- GTM typeB2B
- OfferingServices
First Data Merchant Services firmographics
Firmographics- Name
- First Data Merchant Services
- Legal name
- First Data Merchant Services LLC
- Website
- https://merchants.fiserv.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Ownership category
- akta.pro rank
First Data Merchant Services industry classification
Industry- Product category
- Payment Processing Services
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Finance Services (6199), Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)
- akta.pro secondary industries
- Card-Present Acquirers (Retail & POS Focus) (FSAMABAC), Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE), Merchant Acquiring & Processing Platforms (BPAMAFAB), POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO)
Keywords
Where First Data Merchant Services is headquartered
LocationHeadquarters
- HQ city
- Atlanta
- HQ country
- United States
- HQ region
- North America
Offices6 records
Markets served
First Data Merchant Services business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Supply Chain
Revenue model
- Payment Processing and Transaction Fees: Fees charged per transaction for processing credit card, debit card, and alternative payment method transactions. Includes interchange fees passed through from card networks and assessment fees.
- POS Hardware and Terminal Sales: Sale of payment terminals (FD150, Clover Station, Clover Flex, Clover Mini, Clover Go) and PIN pads (RP10) to merchants for card acceptance.
- Subscription Software Services: Monthly or annual fees for Clover POS software subscriptions, Clover add-ons (gift cards, loyalty programs, rewards, security, capital), and Clover business management solutions.
- Payment Facilitator Residual Revenue: ISVs and software companies becoming PayFacs earn 20-40 basis points more per transaction compared to referral arrangements, generating recurring residual revenue from sub-merchant transaction volume.
- ISO and Agent Partner Compensation: Revenue sharing programs for Independent Sales Organizations and Agent partners, including risk, no-risk, and full-service processing options with bonus incentives and discretionary residual arrangements.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | ISO Partnership Programs |
Go-to-market motion4 records
Distribution channels8 records
Marketing channels7 records
First Data Merchant Services product offering
Product offeringCore offering
First Data Merchant Services (operating under Fiserv) provides payment processing and merchant acquiring solutions to businesses of all sizes. Its enterprise offering is the Carat global omnichannel commerce platform, which orchestrates payments, optimizes transactions, and provides unified commerce and global acquiring for large merchants. Its small and mid-sized business offering is the Clover all-in-one POS system, combining payment acceptance hardware (Clover Station, Flex, Mini, Go, Virtual Terminal), software subscriptions, and over 400 integrated apps. The company is also a registered ISO of multiple sponsor banks (Wells Fargo, Deutsche Bank, PNC, KeyBank, Citizens, Pathward, MVB) and operates a Payment Facilitator program that enables ISVs and SaaS companies to embed payments under its sponsor relationship.
Product overview
First Data Merchant Services (operating as Fiserv) provides a comprehensive payment processing and merchant services portfolio built around two primary platforms: Carat for large enterprises and Clover for small to mid-sized businesses. Carat is a global omnichannel commerce platform that orchestrates payments across any channel with payment optimization and global acquiring capabilities. Clover is an all-in-one POS and business management ecosystem offering hardware devices (Clover Station Solo/Duo, Flex, Mini, Go), virtual terminal, and over 100+ add-on applications including gift cards, loyalty programs, capital financing, security, and payroll delivery. Additional products include the FD150 terminal for small businesses, payment gateway for e-commerce, ISO/CFI partnership programs, and vertical solutions for healthcare and government. The company serves clients in more than 100 countries through various regional entities including operations in USA, Canada, Australia, Hong Kong, India, Malaysia, Singapore, and Latin America.
Differentiator
Problem solved
Functional benefit
Brands
- Clover: All-in-one point-of-sale (POS) system and business management platform tailored for small businesses, offering payment acceptance, inventory management, payroll, and customer engagement tools.
- Carat
- Carat from Fiserv
- Clover from Fiserv
Products and services
- Carat Global Commerce Platform Global omnichannel commerce platform that orchestrates payments and experiences for large enterprises, unifying commerce across any channel with payment optimization, global acquiring, and experience management capabilities.
- Clover POS Platform All-in-one point-of-sale and business management solution for small and mid-sized businesses combining payment acceptance hardware, software subscriptions, and over 400 integrated third-party apps covering inventory, payroll, appointments, gift cards, loyalty, and capital.
- FD150 Terminal Compact payment terminal supporting EMV chip, NFC/contactless, PIN debit, EBT, and Dynamic Currency Conversion with PCI-PED version 5.x compliance.
- Clover Station Solo Flexible all-in-one business management POS system for accepting payments and managing appointments, inventory, and employees.
- Clover Station Duo Two-screen POS system designed for speed, security, and customer engagement with screens for both merchant and customer.
- Clover Flex Handheld all-in-one mobile POS solution for accepting payments at the counter, in line, at the table, or on the go.
- Clover Mini Compact integrated POS system that scales with business growth, running operations from payments to inventory and payroll.
- Clover Go Compact card reader accepting EMV chip or contactless cards using a smartphone or tablet for mobile payment acceptance.
- Clover Virtual Terminal Web-based terminal accepting credit and debit card payments directly on a computer, tablet, or smartphone for in-store, mail order, or invoiced transactions.
- RP10 PIN Pad Companion PIN pad for the FD150 terminal allowing customers to keep cards with them, reducing unauthorized use and physical contact.
- Fiserv Payment Gateway E-commerce payment gateway for processing online transactions with mobile SDKs for iOS and Android, plus recurring billing and bill plan capabilities.
- Payment Facilitator (PayFac) Platform Enables ISVs and software companies to become registered Payment Facilitators with underwriting, onboarding, compliance, funding, and support operations under Fiserv's sponsor bank relationship, earning 20–40 bps more per transaction than referral arrangements.
- Healthcare Payment Solutions Payment solutions for healthcare providers including revenue cycle efficiency, patient payment experience, and digital payout capabilities, delivered in partnership with HealthPay24.
- Gift Card Solutions Gift card program offering physical and digital gift card options for merchants to attract, retain, and re-engage customers.
- Merchant Mobile App (India) Mobile application for Indian merchants accepting UPI, Bharat QR, and SMS/email payments with integrated service request capabilities.
- Android Smart Terminal (India) Android-based POS smart terminal solutions tailored for the Indian merchant market.
Quantifiable outcome
- Business banking clients with Merchant Services contribute 2.6x more in revenue and are cross-sold products 8x faster
- +5 more outcomes
Companies that use First Data Merchant Services
Customer profileNamed customers8 records
Segments7 records
Ideal customer profiles5 records
First Data Merchant Services technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration13 records
AI capability7 records
Feature7 records
First Data Merchant Services partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered flagship, core and minor.
- Google PayflagshipInnovation partnership with Google Pay to enable touchless payment experiences bridging digital and physical commerce. Available through Carat global commerce platform.
- Amazon AlexaflagshipVoice commerce partnership with Amazon Alexa enabling voice-powered payments. Alexa Pay feature went live nationwide as part of Carat platform capabilities.
- OracleflagshipOracle Validated Integration with Oracle Hospitality for the hospitality industry. Fiserv offers integrated solution eliminating need for extensive integration effort with Oracle Property Management System. Used by global hotel chains in APAC.
- Community Financial Institutions (CFI) PartnerscoreBanks and credit unions that partner with Fiserv to offer Merchant Services to their business banking clients. CFI division has perfected a high-touch, white-glove service model for over 20 years. Partners generate 30% incremental non-interest income using Fiserv data analytics.
- Independent Sales Organizations (ISOs)coreISOs resell Fiserv products to merchants with revenue sharing programs, including risk, no-risk, and full-service processing options. Offers marketing tools, resources, support, and 24/7/365 customer service.
- ISV / SaaS Companies (PayFac Partners)coreIndependent Software Vendors and SaaS companies becoming registered Payment Facilitators through Carat. Fiserv provides global sponsor relationship, underwriting, onboarding, compliance, funding, and support operations.
- AccentureminorSource of proprietary Accenture Fiserv Merchant Acquiring Impact Analysis (2020) referenced in marketing materials showing 2.6x revenue contribution from business banking clients with Merchant Services.
- HealthPay24minorPartnership with HealthPay24 to help healthcare providers build trust and create revenue cycle efficiency. Joint podcast featuring Fred Sheffield, General Manager of HealthPay24, and John Rubinetti, SVP and GM of Fiserv.
Scale indicators10 records
Recent moves7 records
Expansion highlights7 records
First Data Merchant Services competitors and assessment
Company assessmentDirect peers
- Stripe: Global integrated payment processor competing directly with FDMS/Fiserv Carat for online and omnichannel enterprise merchants, and increasingly encroaching on SMB acquiring with Stripe Terminal and embedded payments for ISVs.
- Block (Square): Most direct Clover competitor in SMB POS and integrated payments; Square's hardware, software, and Cash App ecosystem target the same small-business merchants that FDMS serves through Clover and ISO/Agent channels.
- Adyen: Global enterprise payment processor and acquirer competing head-to-head with Fiserv Carat for large omnichannel merchants such as Microsoft-class accounts, with comparable unified-commerce and global acquiring capabilities.
- Worldpay (FIS): Large-scale merchant acquirer and payment processor owned by FIS, serving the same SMB, mid-market, and enterprise segments as FDMS with overlapping sponsor-bank and acquiring infrastructure.
- Global Payments: Direct competitor in merchant acquiring, POS (via Genius and Vertex), and integrated software vendor programs; competes with FDMS across SMB, mid-market, and enterprise tiers in multiple geographies.
- Toast: Vertical-specific restaurant POS and payments platform that directly contests Clover's restaurant vertical with tightly integrated hardware, software, and payment processing for SMBs.
- Verifone: POS terminal hardware and payment acceptance competitor whose devices overlap with the FD150 and Clover hardware lines, and which also supplies integrated POS solutions to global enterprise merchants.
Broad incumbents
- PayPal: Broad incumbent in digital payments and merchant processing, including Braintree for enterprise online payments and Zettle for SMB POS, competing with FDMS across both Card-present and card-not-present categories.
Emerging players
- Lightspeed Commerce: Cloud-based commerce platform for retail and restaurant SMBs with integrated payments, competing with Clover on POS functionality and with Carat on omnichannel commerce for mid-market merchants.
- SumUp: European-headquartered SMB payments and POS provider with strong international footprint, competing with Clover in card readers and mobile acceptance for micro and small merchants globally.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat8 records
Key risks5 records
Key highlights6 records
Customer concentration
First Data Merchant Services social profiles
Digital presenceFirst Data Merchant Services compliance and trust
Trust signalCompliance4 records
First Data Merchant Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Data Merchant Services leadership team
Management profileNumber of profiles
First Data Merchant Services subsidiaries and ownership
Company hierarchySubsidiaries5 records
First Data Merchant Services funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Data Merchant Services M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Data Merchant Services
What does First Data Merchant Services do?
First Data Merchant Services (operating under Fiserv) provides payment processing and merchant acquiring solutions to businesses of all sizes. Its enterprise offering is the Carat global omnichannel commerce platform, which orchestrates payments, optimizes transactions, and provides unified commerce and global acquiring for large merchants. Its small and mid-sized business offering is the Clover all-in-one POS system, combining payment acceptance hardware (Clover Station, Flex, Mini, Go, Virtual Terminal), software subscriptions, and over 400 integrated apps. The company is also a registered ISO of multiple sponsor banks (Wells Fargo, Deutsche Bank, PNC, KeyBank, Citizens, Pathward, MVB) and operates a Payment Facilitator program that enables ISVs and SaaS companies to embed payments under its sponsor relationship.
Is First Data Merchant Services a public or private company?
First Data Merchant Services is a private company. It is classified as corporate owned and is currently operating.
When was First Data Merchant Services founded?
First Data Merchant Services was founded in 2019.
Where is First Data Merchant Services based?
First Data Merchant Services is headquartered in Atlanta, United States, in the North America region.
How does First Data Merchant Services make money?
Five revenue lines are on record. Payment Processing and Transaction Fees are the primary driver. The others are POS Hardware and Terminal Sales, subscription Software Services, payment Facilitator Residual Revenue and ISO and Agent Partner Compensation.
Who are First Data Merchant Services's main competitors?
Direct peers on record are Stripe, Block (Square), Adyen, Worldpay (FIS), Global Payments, Toast and Verifone. PayPal is listed as a broad incumbent. Emerging players are Lightspeed Commerce and SumUp.
Does First Data Merchant Services have an API?
Yes. Fiserv provides developer tools and APIs for merchants and ISVs to integrate payment acceptance. The developer portal (developer.fiserv.com) offers SDKs for merchants including JavaScript support, mobile SDKs for iOS and Android, and payment gateway capabilities for e-commerce. The ISV partner program provides a single platform for omnichannel processing capabilities with APIs for payment integration. Developer documentation is at developer.fiserv.com/merchants.
What industry is First Data Merchant Services in?
First Data Merchant Services's product category is Payment Processing Services. Its primary akta.pro industry code is FSAMABAA, Integrated Payment Processors (PSP/Acquirer), with a secondary code of FSAMABAC, Card-Present Acquirers (Retail & POS Focus). Its NAICS code is 522320 and its SIC code is 6199.