Fiserv and Central Payments Deliver Modern Issuing Capabilities to Fintechs and Financial Institutions
March 20 2023 - 9:15AM
Business Wire
Strategic relationship advances embedded
finance capabilities that help brands create innovative debit
programs in step with the realities of people’s lives
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of
payments and financial services technology solutions, and Central
Payments L.L.C., a banking-as-a-service (BaaS) provider, are
enabling fintechs, enterprise businesses and payment facilitators
to bring financial products and services to market with greater
speed and growth potential.
The combination of the Fiserv technology stack, including a
real-time core, card processing, and issuance, with Central
Payments’ award-winning Open*CP Fintech API Marketplace®, which
includes program management and compliance oversight, enables
fintechs and nearly any other business to create valuable products
and services that more holistically meet the rising expectations of
consumers and small businesses. For those with established card
programs, this provides access to more comprehensive and regulated
core banking and payment services.
As fintech offerings have grown more robust, so has consumer
demand to access their money through digital experiences outside of
traditional banking channels. In many cases, this means enabling
non-chartered fintechs and other businesses to deliver financial
services, such as debit cards, secure credit, stored value cards,
unsecured credit and more. Fiserv and Central Payments bring
together a BaaS platform, products and services, and access to a
network of sponsor banks to support a wide spectrum of innovative
use cases across retail and business.
“As fintechs and financial institutions work together to create
compelling financial offerings, speed to market, a robust and
flexible tech stack and streamlined operations are essential,” said
Sunil Sachdev, head of Fintech and Growth at Fiserv. “Together,
Fiserv and Central Payments can deliver these requirements without
compromising compliance and risk controls needed to safeguard all
parties.”
Fiserv and Central Payments provide everything needed for a
fintech or other company to connect with a sponsor bank, launch,
and manage unique payments products and services. Fiserv financial
institution clients pursuing a fintech partnership can also engage
with Fiserv and Central Payments for go-to-market program
management support.
“This combination of technology, services, program management
and bank partners will help any business become a fintech without
the need to add the staff or expertise to manage the program
in-house,” said Eric Cotton, Executive Vice President and General
Manager at Central Payments. “Those that may want to manage their
program in-house eventually can also use our services as a lower
risk model to get to market quickly with a proof-of-concept.”
In a world moving faster than ever before, Fiserv helps clients
deliver solutions in step with the way people live and work today –
financial services at the speed of life. Learn more at
fiserv.com.
About Central Payments
Central Payments provides payments technology and issuing
solutions for fintech and embedded finance businesses, Making
Financial Experiences Better®. The company's Open*CP API
Marketplace is one of the only ‘REAL’ banking-as-a-service (BaaS)
payments platforms built by fintech bankers with issuing capability
embedded. Open*CP's vertical integration and its
native-to-the-cloud technology are the drivers responsible for the
rise of Central Bank of Kansas City, Central Payments’ issuing
bank, to be the fastest growing prepaid card issuer from 2015 to
2020*. The company also operates Falls Fintech, its startup fintech
accelerator and produces Fintech Brews & News, a podcast
devoted to helping bridge the gap between banking, startups, and
the entire fintech industry. Visit Central-Payments.com and follow
on LinkedIn for more information.
*Source: The Nilson Report.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and
information in a way that moves the world. As a global leader in
payments and financial technology, the company helps clients
achieve best-in-class results through a commitment to innovation
and excellence in areas including account processing and digital
banking solutions; card issuer processing and network services;
payments; e-commerce; merchant acquiring and processing; and the
Clover® cloud-based point-of-sale and business management platform.
Fiserv is a member of the S&P 500® Index and one of Fortune®
World’s Most Admired Companies™. Visit fiserv.com and follow on
social media for more information and the latest company news.
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version on businesswire.com: https://www.businesswire.com/news/home/20230320005317/en/
Media Contact: Ann S. Cave Vice President, External
Communications Fiserv, Inc. 678-325-9435 ann.cave@Fiserv.com
Media Contact: Melissa Otten Director of Marketing and
Communications Central Payments, L.L.C 605-354-5451
motten@central-payments.com
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