In a strategic move to expand the global presence of its point-of-sale platform Clover, Fiserv is acquiring the European payment service provider CCV. This step is part of Fiserv’s ongoing strategy to support its ambitious expansion plans through acquisitions.
CCV provides a range of transaction processing solutions, online and closed-loop payments, acquiring services, and payment terminals for 600,000 businesses across the Netherlands, Belgium, and Germany. With a history of innovation in electronic payments, the company was responsible for facilitating the Netherlands’ first electronic transactions in the 1970s.
“The addition of CCV enables Fiserv to accelerate the deployment of our Clover platform and operating system, providing enhanced capabilities and innovation to our clients across Europe,” said Katia Karpova, Head of the EMEA region at Fiserv, in a prepared statement.
Clover Keeps on Spreading
The acquisition of CCV follows Clover’s expansion last year into three new geographies: Brazil, Mexico, and Australia. Clover, which provides point-of-sale systems and card machines for small businesses, has become Fiserv’s major source of growth.
Clover’s revenue reached $2.7 billion in 2024, marking a 29% growth over the course of the year. Fiserv expects Clover’s revenues to reach $4.5 billion by 2026, suggesting a 28.5% year-over-year growth rate. While this goal may seem ambitious, Fiserv is taking the necessary steps to ensure that Clover meets these goals.
An Aggressive Series of Acquisitions
As mentioned, the acquisition of CCV aligns with Fiserv’s aggressive acquisition strategy.
Over the past few years, Fiserv has expanded its portfolio by acquiring numerous companies. In 2022, Fiserv acquired several fintech companies, including Finxact, OrangeData, NexTable, and City POS.
A year later, Fiserv acquired two Brazilian companies: Skytef, a financial software provider, and Sled, a payments software company.
More recently, at the end of last year, Fiserv acquired the Canadian company Payfare, a provider of instant payout and digital banking solutions tailored to the contractor workforce. This move was seen as a strong step toward the company strengthening its position in the gig economy, particularly among gig workers who often face challenges in accessing services during financial emergencies.
