Fiserv Acquires Skytef to Strengthen its Distribution Network in Brazil

Published 8 months ago

Global payments and financial technology leader, Fiserv, Inc., has announced the acquisition of Skytef, the primary distributor of Software Express’s SiTef® (Solução Inteligente de Transferência Eletrônica de Fundos), a leading Electronic Funds Transfer solution in Brazil.

Fiserv Enhances Operational Efficiency with Skytef Acquisition

The acquisition is set to bolster Fiserv’s distribution network in Brazil, adding over 600 Independent Software Vendor (ISV) partners and approximately 27,000 merchants to its existing network. This brings the company’s total number of partners to over 1,000. Skytef’s expertise in Traditional Terminal, Android Point of Sale (APOS), and Multi-merchant solutions will enable terminal applications to be shared by multiple merchants using the same device.

Such a combination is expected to benefit Fiserv’s partners by enhancing operational efficiency and expanding the range of products and services that can be offered to add business value.

Expanding Capacity to Support Clients

With the integration of the two companies and the addition of new associates, Fiserv is set to increase its capacity to support large clients with complex after-sales demands. “We want to add even more value to our clients and partners, expanding our current and future portfolio of solutions with a highly qualified team that values relationships”, says Jorge Valdivia, General Manager for Brazil at Fiserv.

A Closer Relationship with Skytef

Fiserv’s decision to work more closely with Skytef was influenced by the latter’s broad range of capabilities across payment and commerce channels and its 21-year history of exclusively offering Software Express solutions, particularly in sectors like drugstores, foodservice, and clothing.

New Opportunities for Partners and Distributors

The acquisition also presents an opportunity for partners and distributors to increase their revenue. They will gain access to new products and services such as instant payments (Pix), Carat (an omnichannel payment ecosystem), and acquiring and issuing processing. They will also benefit from a closer relationship with Fiserv, including access to training and skilled staff.

For Skytef founders, José Boldin and Sidnei Alonso, joining Fiserv in Brazil is a mark of success. “Joining Fiserv confirms that we have been on the right track. We are combining our relationships and expertise to boost the distribution of products and services and support clients with ethics and commitment”, says Boldin.