Fiserv is offering US banks a white-labelled equivalent to Square, capable of processing card and cheque payments on a merchant's own mobile handset.
I always thought SQUARE's primary target audience was a certain category of merchants whose risk profile was judged to be too high to qualify for merchant accounts from traditional acquirer banks. Therefore, when this payments market went to banks, it found
the gates of banks barred. Not sure what's the payments market that FiServe helps banks to "gatecrash".
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