Wisconsin-based banking processor Fiserv has announced the acquisition of Mobile Commerce Ltd. (M-Com), an international mobile banking and payments provider.
The two companies have been partners since 2008, developing and delivering Mobile Money from Fiserv to hundreds of financial institutions. M-Com CEO Adam Clark and all employees of M-Com will join Fiserv as part of the transaction.
The acquisition will allow Fiserv to integrate M-Com mobile banking and payment technology into current product offerings, including NFC, which M-Com has trialed in New Zealand.
“Offering services through the mobile channel is now critical for financial institutions,” said M-Com CEO Adam Clark. “With the addition of M-Com’s technology and employee expertise, Fiserv is positioned to continue delivering in the rapidly evolving mobile space, both domestically and internationally.”