According to the press release, the company will continue to provide payment processing services to Pineapple Payments merchants, while enhancing its delivery of an array of customer-focused solutions.The acquisition will expand the reach of payment solutions from Fiserv, including the CoPilot partner platform, Clover and Clover Connect, through the technology- and relationship-led distribution channels of Pineapple Payments.
Founded in 2016, Pineapple Payments provides payment processing, proprietary technology, and omnichannel payment acceptance solutions for integrated software vendors (ISVs) and small and medium businesses (SMBs). The company currently serves more than 25,000 merchants.
Furthermore, the transaction is subject to customary approvals and closing conditions and is expected to close in the second quarter of 2021. Financial terms of the transaction were not disclosed.
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