Fiserv bets on payment tech, AI to drive recovery

Fiserv is doubling down on point-of-sale (POS) upgrades and artificial intelligence to streamline how businesses handle transactions. For retailers using the Clover platform, this means a shift toward more automated customer interactions. The company is rolling out 'agentic AI'—tools designed to handle complex tasks beyond simple chat responses—which could eventually assist in customer service and payment troubleshooting. What this means for your business is a more integrated checkout experience. Fiserv is working to merge its various payment rails into a more cohesive system. This aims to reduce the friction between different payment types, whether a customer is paying via credit, debit, or digital wallet. They are also focusing on deeper vertical integration, meaning the software is becoming more specialized for specific industries like restaurants and retail shops. While the company is slimming down by selling off non-core assets, the core focus remains on making the Clover ecosystem a one-stop shop for both hardware and financial software. As these AI tools mature, expect more opportunities to automate back-office reconciliation and front-end customer disputes directly through your POS terminal.

Source: American Banker — Top News

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