Fiserv to Acquire Payfare, Expanding Embedded Finance Solutions

Fiserv, a global leader in payments and financial services technology, has announced an agreement to acquire Payfare, a company specializing in program management solutions for new economy workforces. The transaction, which is expected to close in the first half of 2025, is subject to shareholder and court approvals, along with other customary closing conditions.

This acquisition strengthens Fiserv's embedded finance capabilities, particularly in card program management, white-label consumer applications, and microservices orchestration. Payfare's innovative offerings, combined with Fiserv's expertise in processing and integrated value-added services, aim to enhance embedded banking, payments, and lending solutions for large enterprises and financial institutions.

Frank Bisignano, Chairman, President, and CEO of Fiserv, expressed enthusiasm about the acquisition, stating, "Payfare has built a reputation as an innovator in workforce payments for gig-economy companies. Together, we can accelerate the delivery of embedded finance solutions for all of our clients, empowering their next chapter of success."

Payfare's CEO and Founding Partner, Marco Margiotta, also commented on the deal, calling it a "tremendous opportunity" for the company. "We recognize that Fiserv gives us enhanced scale and technology, which better positions us to serve a growing number of large organizations and deliver a modern digital experience," Margiotta said.