Fiserv, Worldline see solid growth in Q1 22

Fiserv, Worldline see solid growth in Q1 22

Payments processors Fiserv and Worldline have both released their financial results for Q1 2022. Both companies witnessed solid organic growth at the start of the year, largely due to their merchant services and the continued strength of ecommerce in a post-pandemic landscape.

Fiserv Q1 2022 earnings

Fiserv has made a strong start on the company’s FY2022 growth targets, with adjusted revenue for the company growing 10% to $3.91bn in Q1 – ahead of the 7-9% it projected for the year.

Acceptance continues to be one of the company’s biggest revenue drivers, matching Q4 2021 growth at 18%, while the company’s Fintech and Payment segments grew by 6% and 4% respectively.

The company saw global merchant volume grow 11%, with particular success in North America, where it was led by strong SMB performance, as well as EMEA due to eased restrictions. Its merchant business also saw strong success in LatAm, aided by an exclusive partnership with Caixa in Brazil that has seen it onboard 140,000 merchants.

Despite challenging macroeconomic factors creating uncertainty, the company remains “confident” in its 2022 outlook. However, ongoing inflation and geopolitical concerns have led it to keep its FY revenue projections unchanged despite a strong first quarter.

Worldline Q1 2022 earnings

Worldline also saw solid growth in the first quarter with a revenue of €939m ($990m) in Q1 2022 – an 11.6% increase from the same period last year.

Merchant services were the biggest driver of revenue growth, with a 15.8% year-on-year increase to €627m ($661m) in Q1, followed by mobility and e-transactional services, which delivered an 8.4% YoY increase.

Worldline’s growth in the quarter was buoyed by a number of payment orchestrator partnerships, including with Microsoft, Alipay and Oracle, all of whom it is providing an open banking solution for based on its APIs.

Going forward, the company expects organic revenue growth of 8-10% for 2022, saying that the bottom end of this range factors in temporary Covid-19 restrictions, limited recovery of international travel, component shortages for POS systems and sanctions on online merchant services in Russia.

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