Fiserv Expands Presence in Latin America with Skytef Acquisition

The acquisition of Skytef, the primary distributor of Fiserv's intelligent electronic funds transfer solution in Brazil, signifies the inclusion of a Fiserv partner within the company, writes PaymentsDive. While Fiserv has been less active in acquisitions this year, it has frequently acquired companies in recent years, including Finxact, BentoBox, and Ondot. Fiserv CEO Frank Bisignano highlighted the company's approach of first investing in or partnering with a firm to become familiar with it before acquiring it, as he mentioned during an investor conference appearance in June.

Jorge Valdivia, Fiserv's general manager for Brazil, stated, "Since 2002, Skytef has proven itself to be a highly skilled distributor, strategically offering our solutions to various retail sectors in Brazil." By integrating Skytef into Fiserv, we aim to bring their successful practices and commercial strategies to ISV partners and merchants within the Fiserv network.

Fiserv, based in Brookfield, Wisconsin, did not disclose the exact number of employees at Skytef but confirmed that all of them will become part of the Fiserv team. The incorporation of Skytef into Fiserv is intended to enhance operational efficiency and expand the range of products and services available to businesses. It also positions Fiserv to better serve large clients with complex post-sale requirements.

During Fiserv's second-quarter earnings call in July, company executives emphasized that Latin America, particularly Brazil and Argentina, plays a pivotal role in the company's growth. Frank Bisignano referred to Latin America as a standout performer in recent quarters and expressed confidence in its continued long-term growth.

Fiserv highlighted its partnership with the state-owned financial services company Caixa Econômica Federal and its utilization of Pix, an instant payment system endorsed by Brazil's central bank, to facilitate business-to-business payments and other transactions in the region.