Fiserv Inc. of Brookfield, Wis., reported first-quarter gains in profit and revenue.

The bank technology vendor's revenue for the quarter rose 5.7 %, to $1.1 billion compared with the same quarter a year earlier. Its net income rose 18%, to $132 million.

"We are off to a great start in 2012 with above-plan performance for revenue and earnings per share in the quarter," said Jeffery Yabuki, Fiserv president and chief executive, said in a press release. "There is continuing evidence that our broad range of technology solutions will support the needs of the evolving financial services market."

Fiserv reported it signed 78 electronic bill-payment clients, 59 debit clients and 93 person-to-person clients in the quarter.

Fiserv said it will combine its Popmoney and ZashPay payment networks, rebranding the service Popmoney. The combined payment network includes about 1,500 financial institutions serving more than 35 million consumers through online and mobile banking relationships, Fiserv said in the release.

What do you think about this? Send us your feedback. Click Here.


Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry