Fiserv agrees to acquire Ondot Systems to expand its suite of products to enable clients to deliver digital-first and personalized experiences to their customers.The acquisition comes as consumers and businesses continue to embrace online and digital payment technology, a trend that’s only been accelerated by the pandemic.Financial terms of the transaction weren’t disclosed. The deal is expected to close in Q1 2021.Founded in 2011, Ondot processes more than 1B transactions per month and provides digital capabilities for over 30M cards.Fiserv said it plans to further develop the Ondot platform’s interplay between real-time authorization, user context, and artificial intelligence to engage users in-the-moment – before, during and after transactions.
Want updates like this delivered weekly?
TransactionWatch is a weekly newsletter covering the most important and relevant merchant acquiring M&A activity. This first-of-its-kind newsletter was developed for the world’s cutting-edge payments executives. See an example edition.
How Do I Sign Up?Click here to visit the TransactionWatch landing page and complete the subscription form. You will receive a confirmation email and begin to receive TransactionWatch every Friday.
The post Fiserv to buy Ondot Systems to expand digital-first products appeared first on The Strawhecker Group.