Fiserv looks to expand payment solutions product Clover in India

Fiserv, the $19 billion USbased fintech and financial services company, wants to expand its business in India, the biggest market in APAC. It plans to launch its payment solution product, Clover, for small businesses, according to Srini Krish, President of Global Services and Global Practice Leader for Implementations at Fiserv.

The US is the biggest market for the company, followed by EMEA, Latam and APAC, he told businessline without giving numbers for India. The new business opportunity in India is to take Clover to the market, he told businessline.

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Fiserv does merchant acquisition (accepting payments on behalf of merchants); digital paymentsfrom kirana shops to the largest retailer in the worldFiserv and accepts pay

Srini Krish, President, Global Services, Fiserv

ments on ecommerce, he said. The company is involved in all kinds of payments, including debit and credit cards.

This includes accepting the transaction, authorising the transaction (on behalf of the customer’s bank) and settling the transaction. All these happen in a fraction of a second in the backend with integration with various banks and financial institutions. In many of the payment receipts, the company’s name would be mentioned, he said.

Clover is aimed at small and mediumsized business owners. It allows merchants to perform everything around their business. This includes inventory management, payroll, scheduling and even reservation in a hotel., he said.

The teams in India built the endtoend solutions in Clover. The entire development and deployment of Clover and client service are being done from India and Sunnyvale, US, he said. Clover is available in the US, UK, Ireland and Latam. The next big push is in APAC India, Australia and Singapore, he said.