The following is a transcript of the podcast episode between Matt Wilcox, SVP of Market Strategy of Innovation at Fiserv, and PaymentsJournal.

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PaymentsJournal 

Welcome to the PaymentsJournal podcast. I’m your host, Ryan Mac, and on today’s episode we’re going to be talking about payment capabilities. To help me with this conversation, I have Matt Wilcox, who is the SVP of Market Strategy and Innovation at Fiserv. During this conversation, we’re also going to be diving into the First Data Fiserv acquisition. This recording was done at the Money20/20 event in 2019. Now there’s certainly a lot to unpack here in this episode, so without any further delay, let’s start the show.

Matt, thank you so much for joining me on today’s episode. Fiserv has been growing its presence in the payments space, and even more so with your recent combination with First Data. What is behind this growing focus?

Matt Wilcox   

Being able to move and manage money is essential to people’s lives. They’re thinking about short term things, like “do I have enough money in my account to buy a new outfit or fill up my gas tank?” They’re also thinking about long term things like buying a first home or saving for retirement. At Fiserv, we aspire to move money and information in a way that moves the world, which is a recognition of the role that payments play in business and consumers’ lives. Payments is also an incredibly dynamic space with payment types changing and proliferating, and the emergence of capabilities such as real-time payments. It’s an area where we think we can bring our technology and expertise together to make a difference in how people live and work.

PaymentsJournal 

Excellent, I certainly think that’s great here. If I could sum up what you’re saying, and feel free to correct me here, is that this combination really allows for both organizations to innovate on top of each other to really bring payments to kind of that that next level Do you think that’s a correct assumption?

Matt Wilcox 

Yeah, I think the innovation from the people and skill sets of both legacy companies brought together, the original Fiserv and the original First Data, and also the various technologies and different roles that each company has played in payments, really brings together a holistic view of payments. This is true whether you’re talking merchant or small business consumer or commercial payments, and the innovation that you can have within payments far exceeds what each company could do on their own.