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MILWAUKEE - Fiserv, Inc. (NYSE:FI), a $91.5 billion financial technology leader with annual revenues of $20.7 billion, announced today the creation of Clover PracticePay, a new payment platform designed specifically for small and medium-sized healthcare providers. The solution, developed in partnership with Rectangle Health, aims to help medical practices manage payments while meeting HIPAA compliance requirements. According to InvestingPro analysis, Fiserv maintains a strong financial health score and appears undervalued based on its Fair Value metrics.
The all-in-one platform will integrate Rectangle Health’s Practice Management Bridge technology with Clover’s point-of-sale hardware. According to the company’s press release, the system will offer features including financing options, recurring billing, text-to-pay capabilities, QR codes, and online payment portals through a branded dashboard. With a robust gross profit margin of 61%, Fiserv demonstrates strong operational efficiency in its payment processing solutions.
"Healthcare is an important vertical for the banking industry, and with this new solution, we are enabling our financial institution partners to better serve a critical customer base within their communities," said Katie Whalen, SVP, Head of Merchant FI Channels & Small Business Strategy at Fiserv.
The payment solution is designed to work alongside existing practice management software and will target various healthcare segments including primary care, dental services, and behavioral health providers.
Dominick Colabella, CEO at Rectangle Health, stated that the collaboration "will enable providers to enhance their financial systems while remaining focused on what matters most – their patients."
The move represents Clover’s expansion beyond its core markets of restaurant, retail, and personal services into the healthcare sector. The company indicated that Clover PracticePay is scheduled to launch in early 2026.
Fiserv, a Fortune 500 company and member of the S&P 500 Index, provides financial technology services including account processing, digital banking solutions, and payment processing through its Clover point-of-sale system.
In other recent news, Fiserv has announced plans to launch a new digital asset platform, including a stablecoin named FIUSD, by the end of 2025. This platform aims to help regional and community banks implement stablecoin technology, with Fiserv charging transaction fees and taking a portion of the yield on reserves. In a strategic move, Fiserv has expanded its partnership with PayPal to integrate FIUSD and PayPal’s PYUSD into cross-border transactions and merchant solutions. The company is also collaborating with Mastercard to integrate FIUSD across Mastercard’s global payments network, potentially allowing the stablecoin to be used at over 150 million merchants worldwide.
Additionally, Fiserv is working with Solana, Circle Internet Group, and Paxos to build its platform, which will be compatible with other stablecoins. William Blair has maintained its Outperform rating on Fiserv, viewing the company’s stablecoin launch as a strategic move to maintain flexibility. BofA Securities has reiterated a Buy rating on Fiserv, noting the company’s current price-to-earnings ratio as an attractive entry point. These developments underscore Fiserv’s efforts to scale stablecoin-powered payments and drive innovation in financial services.
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