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1Scan for outdated or missing drivers - takes under a minute2Clear out junk files and repair common Windows errors3Fix the driver behind crashes, sound loss and screen glitchesFiserv’s acquisition of First Data brought a major merchant acquirer and the Clover platform together with Fiserv’s financial-institution relationships and broader payments technology. Announced in January 2019 and completed on July 29, 2019, the deal shaped the capabilities Fiserv now presents across small-business, enterprise and payment-processing services. It does not, by itself, show that every merchant received lower costs or better service.
What happened in the Fiserv–First Data deal?
Fiserv announced an all-stock agreement to acquire First Data on January 16, 2019. The announced terms set an exchange ratio of 0.303 Fiserv shares for each First Data share and an equity value of $22 billion. Fiserv said that after closing, its shareholders would own 57.5% of the combined company and First Data shareholders would own 42.5%. Fiserv’s 2025 Form 10-K identifies July 29, 2019 as the acquisition date. Fiserv’s announcement and its 2025 filing document the transaction and completion.
The $22 billion figure was the announced equity value of the transaction. It is not comparable to Fiserv’s later annual revenue or payment volume, which measure different things.
Why did the combination matter for merchant services?
First Data brought merchant acquiring, commerce, issuing and Clover, its point-of-sale and business-management platform. Fiserv described its strengths in financial-institution relationships, account processing, digital banking, payments and biller services. The strategic rationale was to connect those complementary capabilities rather than simply add a POS device line.
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#1 Best Overall
- Android 14 Performance: The Multzo POS H10 handheld terminal is powered by Android 14 and an Octa-Core processor, allowing you to run compatible business applications. The integrated 720x1440 touchscreen display provides clear, sharp visuals for quick and intuitive navigation during daily operations.
- Ink-Free Thermal Printing: Features an integrated 58mm direct thermal receipt printer that produces clear monochrome prints without the need for ink cartridges. Designed to fit standard 58mm thermal paper rolls, it provides a reliable, cost-effective solution for printing retail receipts and mobile checkouts.
- Contactless Payments & Scanning: Equipped with an integrated NFC reader that supports contactless tap-to-pay payments for streamlined customer checkouts. The built-in 5.0MP rear camera functions as a barcode scanner to quickly and accurately read both 1D and 2D barcodes for inventory and sales.
- All-Day Battery Life: Powered by a built-in 6000mAh battery that delivers up to 14 hours of runtime, making it ideal for mobile retail and food trucks. It supports 10W fast charging to complete a full charge in 2 hours, and a compatible charger is included.
- Seamless Connectivity & SDK: Stay connected anywhere with dual-band Wi-Fi, 4G LTE cellular networks, Bluetooth, and USB connectivity. Weighing 345 grams for comfortable handheld use, this terminal also provides an available SDK for developers to integrate custom software.
Fiserv specifically proposed using its financial-institution distribution to extend Clover and combining First Data’s digital merchant-enrollment capabilities with Fiserv digital banking. These were opportunities described at announcement, not proof that every planned integration or synergy was realized.
“Through this transformative combination, we expect to redefine the manner in which people and institutions move money and information,” said Jeffery Yabuki, then Fiserv president and chief executive officer, on January 16, 2019. The statement expressed an expectation at the time of the deal, not a measured result.
Rank #2
Volcora 13" Electronic Cash Register Drawer for Point of Sale (POS) System with 4 Bill 5 Coin Cash Tray, Removable Coin Compartment, 12-24V, RJ11/RJ12 Key-Lock, Black - for Small Businesses
- DURABLE POS CASH DRAWER: Volcora cash register drawer measures 13"x13.25"x4", voltage is at 12-24 VDC. Our money drawer has a heavy duty durable metal frame that is an ideal cash register for small businesses and even big establishments too.
- 4 BILL 5 COIN SLOTS: Our small cash register has a built in cash tray that comes with a removable coin tray to maximize the partitions to 4 bill slots and 5 coin slots. The front panel has 1 media compartment for large bills, checks, and receipts storage without opening the drawer.
- SECURED CASHIER REGISTER: Our cash box with money tray and lock is secured with 3-position key lock: 1-manual open, 2-auto open by printer/POS, 3-lock. Perfect as cash registers for business, our package includes 6 keys for additional backup.
- CONNECTIVITY AND COMPATIBILITY: Our cash drawer suits the point of sale system for small business. Just connect the cash drawer to a receipt printer via the RJ11 / RJ12 cable included in the package, and then to your POS to automatically open or close cash trays. Our cash drawers can be used with most major receipt or thermal printer brands. Compatible with Star, Citizen, JAY, and Bixolon. (No USB port, so CANNOT be connected to POS directly via USB)
- 100% LIFETIME GUARANTEE: Contact us if you are not satisfied with our cash drawer tray for checkout counter and we will send you a new replacement.
What merchant services does Fiserv describe today?
Fiserv’s 2025 Form 10-K describes a Merchant segment serving businesses of different sizes and processing partners. Its listed capabilities include merchant acquiring and digital commerce, mobile payment services, security and fraud protection, stored-value solutions, software as a service (SaaS), POS devices and pay-by-bank services. The company groups its merchant businesses into Small Business, Enterprise and Processing. Fiserv’s 2025 Form 10-K is the source for this company description.
Small Business and Clover
Fiserv identifies Clover as its small-business POS and business-management platform. Its 2025 filing says the company plans to expand Clover’s features, industry coverage, partnerships and geographic reach. That is a stated strategy; it does not establish how well the platform performs for any particular merchant.
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- ALL-IN-ONE DESIGN: The POS STORE Q2i Mobile POS Terminal combines a 5.5-inch HD capacitive touchscreen with an integrated 58 mm thermal receipt printer. The monochrome thermal printer prints at speeds up to 80 mm per second on standard 58 mm thermal paper, eliminating the need for ink. This single handheld device streamlines payment and receipt processing.
- INTEGRATED 1D BARCODE SCANNER: Features a built-in camera scanner designed to read standard 1D barcodes, including UPC, EAN, and Code 128. This enables quick scanning directly on the retail floor or tableside. Please note that the built-in scanner is designed for 1D barcodes and does not read QR codes.
- ANDROID 11 & POS SOFTWARE COMPATIBILITY: Running on the Android 11 operating system with Google Play Store access, this device supports popular point-of-sale applications. It is compatible with systems including Loyverse, Square, Helcim, KORONA POS, and Stripe Terminal to easily manage your transactions and inventory.
- WIRELESS CONNECTIVITY & WORKDAY POWER: Stay connected using dual-band Wi-Fi (supporting 2.4 GHz and 5 GHz networks) and Bluetooth. Equipped with a rechargeable 7.4V / 5000mAh lithium battery and a USB-C port, this mobile terminal is built to keep your business running smoothly.
- COMPLETE RETAIL KIT: The package includes the Q2i terminal, a power adapter, a USB-C cable, a paper roll, and a quick start guide. Measuring 2.03 x 3.4 x 8.2 inches and weighing 364 grams, this compact terminal is easy to carry and comes backed by a 1-year seller warranty.
Enterprise and Processing
The Enterprise business includes an integrated omnichannel operating system, while Processing serves payment-processing partners. Fiserv says it distributes merchant services through direct sales, strategic partnerships, software companies, independent sales organizations, financial institutions and other strategic partners. The breadth of these channels means Fiserv’s merchant business is not limited to Clover hardware or to one route to market.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How large is the business, according to Fiserv?
These figures come from different reporting periods and measure different things; they should not be read as a like-for-like comparison.
Rank #4
- Responsive 15.6-inch touchscreen display supports resolutions up to 1920 x 1080, providing a clear and direct interface to streamline order entry, improve checkout accuracy, and speed up daily transactions.
- Powered by an Intel Core i5 5th Gen processor and preinstalled with the Windows 11 operating system. Equipped with 8GB RAM and a 128GB SSD, this all-in-one terminal delivers reliable processing speeds for running demanding point-of-sale applications.
- Built with a durable aluminum alloy housing designed to withstand busy commercial environments. The unit features a space-saving 45 x 36 x 13 cm footprint, allowing it to fit neatly onto crowded checkout counters.
- Equipped with physical USB, serial, Ethernet, and VGA ports, plus built-in Wi-Fi and Bluetooth to connect receipt printers and other accessories. This hardware-only terminal is compatible with Windows-compatible POS software and comes with a 1-year manufacturer warranty.
| Figure | What it measures | Source and qualification |
|---|---|---|
| $22 billion | Announced equity value of the First Data transaction | Fiserv and First Data announcement, January 16, 2019; transaction terms, not annual sales or payment volume. Announcement |
| $21.2 billion | Fiserv total revenue in 2025 | Fiserv’s 2025 Form 10-K; processing and services revenue represented 80% of total revenue that year. Filing |
| $4.6 trillion | Fiserv global gross payment volume in 2025 | Fiserv’s 2026 Investor Day materials; includes $4.2 trillion in card payment volume and $0.4 trillion from Cash Advance, Fleet, EBT and other sources. Company-reported figure. Investor Day materials |
| 3.9 million | Clover merchants | Fiserv’s 2026 Investor Day materials; company-reported scale figure, not an independent market estimate. Investor Day materials |
Fiserv’s 2026 Investor Day also describes an omnichannel value proposition for small businesses, enterprises and marketplaces. That language reflects the company’s positioning, not independent evidence of merchant-level outcomes. Fiserv’s Investor Day materials provide its stated strategy and figures.
What should a merchant take from the merger?
The combination explains why Fiserv’s current merchant portfolio spans acquiring, commerce technology, POS and software, and processing services: the deal joined First Data’s merchant capabilities and Clover with Fiserv’s existing financial-technology and financial-institution reach. For a business evaluating a provider, that history is context, not a recommendation.
The cited company materials do not establish comparative processing costs, merchant satisfaction, service quality, or whether synergies improved every product or merchant relationship. A merchant considering a Clover POS system or another Fiserv service still needs to assess the specific acquiring arrangement, software and hardware requirements, integrations, sales channel, and disclosed pricing and contract terms. The merger alone cannot answer those questions.
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