Following this collaboration, Wedge will offer its services to AppMarket, a product of Fiserv. This will allow the company to use Fiserv’s payment technology and offer it to financial institutions more efficiently.
More specifically, Fiserv services such as the real-time fintech ledger or the debit card issues capabilities will offer Wedge the possibility to improve its payment options and to develop its customer services.
Fiserv’s technology is currently used by approximatively 40% of US banks and credit unions, according to data offered in the official company statement. The accessibility of Wedge via the AppMarket will reportedly provide financial institutions across the country the capability to offer the new technology to their accountholders.
According to a company representative, a lot of the customers are interested in options and services that can simplify the payment experience. The presence of Wedge on AppMarket will give their clients the possibility to choose the fintech experience they want to connect their accountholders to.
The customers have the chance to use their stocks, crypto, ETFs or cash for purchases the way they want to or how it works best for them. At the same time, they can earn rewards and choose the optimal asset to use at the checkout by taking advantage of real-time market movements.
Fiserv’s recent partnerships and expansion strategy
Fiserv is a US-based fintech and payments company that offers financial technology services, including account processing and digital banking solutions, card issuer processing and network services, merchant acquiring a processing, payments and ecommerce services, as well as insurance and leasing to finance companies and retailers.
Earlier this month, Fiserv partnered with the Netherlands-based payment orchestration platform WLPayments to enable merchants to improve operations in existing markets and expand to new ones.
During the month of October 2022, Fiserv and German-based Deutsche Bank launched Vert, a payment acceptance and banking services provider to small and medium-sized enterprises (SMEs). It combines payment acceptance, processing, and traditional banking solutions while meeting the market demand for an integrated offering and consolidation access, in order to innovate products for merchants of all sizes. It also provides next-banking-day payouts, offering merchants faster access to their funds.
In July, Fiserv’s partnership with the Financial Services Innovation Lab operated on a new initiative to better understand consumer financial health, having the goal to increase financial and payments inclusion.
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