Fiserv has collaborated with NCR Atleos Corporation, with which consumers can pay their utility, phone, cable, and other bills in cash at several ATMs situated in different US retailers, convenience stores, drug stores, and supermarkets.
The company announced that it aims to grow its CheckFreePay network by incorporating Atleos’ ATM network into its solution. The collaboration will be to target consumers who prefer cash transactions for convenience and accessibility.
Fiserv expands its cash services
Initially, the payment service will apply to the NCR Atleos ATM network, which currently accommodates cash payments. With the greater proportion of ATMs deployed across the USA, the service is planned to continue its growth, allowing more consumers to use ATMs to pay bills and creating better operational success for retailers.
“Brian Seemann, Senior Vice President of Biller Solutions at Fiserv, pointed out that many consumers prefer to pay household bills in physical locations like convenience stores and money transfer outlets, and CheckFreePay helps simplify their financial transactions by offering various payment options where they go each day.”
By making payment options from physical in-store transactions to self-service ATM cash payments easier, merchants can automate their customers’ transactions, optimize their store operations, and take advantage of the increased users for the ATM.
Fiserv’s shows strong financial performance, fueling its business
Previously, Fiserv released a stellar report for the third quarter of the year 2023 with an impressive increase in revenue and a handsome rise in earnings per share.
The company’s revenue went up to $4.87 billion, with an 8 percent increase compared to the same quarter year-over-year, primarily through its Acceptance segment, which rose by 12 percent. Furthermore, Fiserv’s fintech and payments segments’ growth was recorded at 4% and 5%, respectively.
Fiserv’s GAAP EPS was worth $1.56 in Q3 2023, which was the highest since 2023 and rose by 108% compared to the previous year. Moreover, its first nine months of 2023 GAAP EPS was $3.54, marking a 32% increase compared to the previous year. The company’s GAAP operating margin increased significantly in Q3, reaching 30.8%, and the performance of the first nine months of the year was also positive, as the margin was 25.2%.