Fiserv announced a strategic partnership with Mastercard to integrate the payment processor’s Agent Pay Acceptance Framework into its merchant ecosystem, enabling merchants to accept AI‑driven agent transactions that are secured by Mastercard’s tokenization and fraud‑prevention technology. The collaboration also includes Mastercard’s Secure Card on File solution, which allows merchants to store card data securely for future agent‑initiated purchases.
In a separate agreement, Fiserv will deploy Visa’s Intelligent Commerce and Trusted Agent Protocol across its acceptance network. The protocol authenticates, retrieves, and processes agentic transactions while ensuring that each interaction is authorized by verified consumer intent, giving merchants a seamless way to embed AI‑driven agent experiences into their workflows without disrupting existing operations.
The partnerships arrive amid a challenging financial backdrop for Fiserv. In Q3 2025, the company reported GAAP revenue of $5.26 billion, a modest 1% year‑over‑year increase, while adjusted earnings per share fell 11% to $2.04, missing the consensus estimate of $2.64. Revenue growth was driven by a 5% rise in Merchant Solutions, offset by a 3% decline in the Financial Solutions segment. The company’s full‑year 2025 guidance was sharply cut to an adjusted EPS range of $8.50–$8.60, down from the previously projected $8.90–$9.10, reflecting concerns about near‑term demand and the need to invest in new growth engines.
Management emphasized that the agentic commerce initiatives are a core component of Fiserv’s “One Fiserv” action plan, a strategic reset launched in Q3 2025 to focus on client‑first execution, scale its Clover platform, and accelerate AI‑enabled operational excellence. CEO Mike Lyons said the plan is a “critical and necessary reset” that will help the company regain momentum after the earnings miss. Sanjay Saraf, SVP and Global Chief Product Officer for Merchant Solutions, noted that the partnership with Mastercard “establishes the foundation for secure, intelligent, and interoperable agentic commerce experiences,” while Visa’s Rubail Birwadker highlighted the importance of scaling secure AI‑driven solutions for merchants worldwide.
These collaborations position Fiserv to capture emerging revenue streams in the rapidly growing agentic commerce market, where autonomous AI agents can negotiate, purchase, and manage transactions on behalf of consumers. By leveraging Mastercard’s and Visa’s global infrastructure, Fiserv can offer merchants a secure, scalable framework that may offset the recent revenue and earnings shortfalls, strengthen its competitive stance against other payment processors, and support the company’s broader growth strategy under the One Fiserv plan.
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