The acquisition provides Fiserv with a payment orchestration solution, supporting service options for PayFacs, ISVs, BPSPs, ISOs, and enterprises. Credit: Piotr Swat/ Shutterstock.

Fintech and payments company Fiserv has acquired Pinch Payments, a payment facilitator (PayFac) based in Australia.  

Financial terms of the deal remain undisclosed.  

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Set up in 2017, Pinch Payments is known for its PayFac enablement platform “Glassbox” and serves nearly 2000 merchants in Australia and New Zealand. 

This acquisition is aimed to expanding its service offerings in the Asia-Pacific market. 

It provides Fiserv with a payment orchestration solution, supporting service options for PayFacs, ISVs, BPSPs, ISOs, and enterprises.  

The addition is expected to extend the company’s merchant reach and enable the delivery of new solutions, including the integration of the Clover cloud-based SaaS business operating platform, to merchants across the APAC region. 

Pinch Payments CEO and c-founder Paul Allen stated: “Joining Fiserv is an incredible opportunity for the Pinch team and furthers our mission to provide seamless partner experiences to a growing number of merchants. Having worked closely with the Fiserv team, I am confident in our roadmap to expand into new markets.” 

Fiserv Australia head Gavin Jones said: “This acquisition further demonstrates Fiserv’s commitment to the local payments market, following our recent launch of Clover in Australia. By integrating our leading digital payments solutions with Pinch’s innovative technology and local expertise, we are able to deliver innovative payment solutions to empower merchants across the APAC region.  

“We welcome the Pinch associates to the Fiserv family and are committed to seamless integration of services for our customers.” 

Last month, Fiserv acquired CCV, a Dutch payments technology provider with operations in the Netherlands, Belgium, and Germany.  

Moreover, last month, the company also finalised the acquisition of Payfare, a firm offering instant payout and banking solutions to workers in the gig economy.  

It purchased all the issued and outstanding shares of Payfare at a price of C$4.00 per share, amounting to a total acquisition cost of C$193.15m.