Fiserv enlarges Clover services for the hospitality sector through the acquisition of CardFree.
Fiserv, Inc., a leading global provider of financial services technology solutions, has announced the acquisition of CardFree, an all-in-one platform for merchants that offers solutions for ordering, payment, and loyalty.
The acquisition is expected to bring significant benefits to hospitality businesses, as CardFree's platform integrates with various POS systems and payment processors, enabling merchants to streamline their operations and elevate the guest experience.
CardFree was founded by the team that developed the original Starbucks and Dunkin' mobile apps. Its founders, including Michael Abbott, have a proven track record in delivering innovative solutions for the hospitality industry.
The integration of CardFree's platform will support small businesses growing into larger merchants, providing them with the tools they need to drive growth through elevated customer experiences.
Jon Squire, Founder & CEO at CardFree, expressed that joining Fiserv is an opportunity to bring the most advanced restaurant and hospitality solutions to market. Squire is confident that the collaboration with Fiserv uniquely positions them to address the growing needs of hospitality operators.
CardFree's platform includes drive-through software, kiosk and sub-inventory enablement, and patented technology for mobile ordering and payment. This technology will enhance the capabilities of Clover, a point-of-sale solution offered by Fiserv, making it more scalable and flexible.
Takis Georgakopoulos, Chief Operating Officer of Fiserv, stated that the acquisition further expands Clover's capabilities across the hospitality, restaurant, and lodging industries. The financial terms of the transaction were not disclosed.
Squire added that the collaboration with Fiserv will result in a best-in-class suite of tools that streamline operations and elevate the guest experience, making it easier for merchants to manage their businesses and deliver exceptional service to their customers.
CardFree also provides third-party software integration support in loyalty, delivery services, and property management, which will further enhance the capabilities of Clover and Fiserv's hospitality solutions. The acquisition is expected to be completed in the third quarter of 2022, subject to customary closing conditions.
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