Payments processor Fiserv continued its return to growth in Q4 2021 with an 11% year-on-year revenue increase to $4.26bn, bringing FY 2021 growth to 9% with FY revenue at $16.23bn.
The company’s Acceptance segment was a particularly strong driver of this, growing 18% in Q4 21 and 17% for the year, while the company’s Payments segment increased by 9% for Q4 and 6% for the full year. The company’s merchant platforms (Clover for SMBs and Carat for enterprises) are also seeing significant growth and cross-border transactions grew double digits as a whole in 2021.
Fiserv also provided insights into its recently announced acquisition of digital banking solutions provider Finxact, which is intended to enhance Fiserv’s banking-as-a-service and embedded finance offerings as well as increase its account processing and payments capabilities.
In 2022 Fiserv now expects revenue to grow 7-9%. Not fintech growth rates, but solid nonetheless.