Fiserv buying Bypass Mobile to boost multi-channel platform
Payments technology provider Fiserv is acquiring independent software vendor Bypass Mobile to boost its multi-channel capabilities for sports, entertainment and restaurant verticals.
Bypass Mobile provides back-office management tools and data engines for sports and entertainment venues, food service providers and national restaurant chains. Fiserv says the acquisition builds on an existing partnership the companies had in which Bypass technology was integrated into Fiserv offerings.
More than 50 major stadiums and arenas already use the combination of Bypass and Fiserv technologies, including Fiserv Forum in Milwaukee, Clover Park in Port St. Lucie, and Citi Field in New York. Fiserv completed a two-year deal with the Milwaukee Bucks of the NBA last year to equip the arena with its Clover POS software and hardware.
"Adding Bypass to our portfolio will make it easier for our clients to realize their digital transformation strategy, delivering interactions their customers are demanding," Devin McGranahan, senior group president of global business solutions at Fiserv, said in a Wednesday press release.
The combination of the technologies allows consumers to make purchases across connected devices, with Bypass integrated into Fiserv's commerce platform. It allows businesses to work through a single provider, while improving security and creating a more complete picture of customer interactions, Fiserv said.
The companies can help businesses "accept payments efficiently while continuing to meet customer expectations by providing a variety of payment options," Brandon Loyd, CEO of Bypass, said in the release.
Fiserv did not provide financial details of the acquisition.