Fiserv: Clover Revenues Are Up 29% in 2024

Core Insights - The partnership between Fiserv and Apple aims to enhance Apple Pay functionality, introducing features like paying with loyalty points and installment loans at checkout [1][7] - Fiserv's Clover point of sale technologies are driving revenue growth, with a reported 29% increase in revenues year to date [2][4] - The company maintains an organic revenue growth outlook of 15% to 17% [3] Financial Performance - In the Financial Solutions segment, organic revenue growth was 8%, with digital payments revenue reaching $987 million [5] - Fiserv's Merchant Solutions business grew by 9% year over year to $2.4 billion on an adjusted basis, with small business-related revenues surging 13% [8] - Clover's annualized Gross Payment Volume (GPV) stands at $313 billion, reflecting a 17% increase [8] Market Trends - The EMEA region is experiencing improved business conditions as inflation eases and consumer confidence rises [9] - There is strong demand for faster payments in the U.S., with Fiserv signing 32 financial institutions to FedNow in the second quarter, totaling nearly 300 signups [9]