Fiserv Goes Crypto, POS Goes Cloud

Fiserv made several major announcements, including a partnership with Early Warning Services to offer the Paze digital wallet, the launch of a new stablecoin (FIUSD) in collaboration with Paxos and Circle, and new integrations with PayPal and Mastercard. Meanwhile, regulators like the Federal Reserve and FDIC are seeking public input on how to combat rising payments fraud—especially check fraud—via a new Request for Information. Lastly, The Strawhecker Group’s 2025 POS Provider Directory highlights trends in the evolving POS market, including the rise of cloud-based systems, processor-agnostic solutions, and AI-driven innovation.

Welcome to Today in Payments, I’m your host, Patti Murphy, here with your weekly dose of payments notes.

Fiserv Expands Its Portfolio with Stablecoins, Mobile Wallets

Lots of news out of Fiserv. First, the company announced a collaboration with Early Warning Services to offer the digital wallet Paze to its financial institution customers. Fiserv is a financial technology firm (fintech) that provides backend support for thousands of financial institutions (FIs), in addition to supporting ISOs and agents selling merchant services. Early Warning is a fraud prevention and risk management company that is owned by many of the largest banks in the country, including Bank of America, Chase, and Wells Fargo.

Fiserv also just announced plans to launch a new digital asset platform, along with a stablecoin (FIUSD), using the digital asset infrastructure from Paxos and Circle Internet Group, both of which are active in the stablecoin world—issuing and managing tokens that represent the money behind stablecoins. Fiserv also announced it is partnering with PayPal to build future interoperability between FIUSD and PYUSD (PayPal’s stablecoin). And it announced a partnership with Mastercard to explore ways to integrate FIUSD across a range of Mastercard products and services.

Stablecoins got a big shot in the arm when the Senate passed the GENIUS Act earlier this month, establishing a regulatory framework for stablecoins. The legislation, however, still needs House approval before it can be signed into law.

Regulators Eye Payments Fraud; Seek Industry Input

Payments fraud is rampant, and the major financial institution regulators are asking FIs and the public what they can do to help “mitigate” the problem. A request for information (RFI) was issued by the Federal Reserve and Reserve Banks, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency.

Fraud continues to grow across all payment systems. But most notable is the rise in check fraud, which continues to spiral out of control despite the displacement of checks by card and other electronic payment methods. The RFI suggests several collaborative and independent steps that might help mitigate fraud. These are articulated through 22 questions they’d like input on. For example, the RFI asks whether regulatory changes are necessary to improve the ability to resolve disputes over liability for allegedly fraudulent checks. It also inquires about the need for central databases of payments fraud.

TSG on POS Providers

As we’ve noted on this podcast numerous times, the POS is no longer just a transaction tool—it’s where data and customer experience converge to shape the future of business management. That’s the general insight gleaned from The Strawhecker Group’s 2025 Directory of POS Providers. Here are some specific insights from the Directory:

• 41% of identified POS providers offer an “all-in-one” or comprehensive POS solution, such as Clover and Toast.

• 12% market their platforms as “processor agnostic.”

• 78% of providers in the Directory offer at least one product with a cloud-based hosting model; just 5% still market on-premise deployment.

• 43% of providers identified retail, and 42% identified restaurants as key verticals.

Looking ahead, TSG said the POS market will continue to evolve as emerging technologies—such as AI-driven analytics, biometric authentication, and blockchain-based payment systems—develop. The report also notes that integrating POS systems with e-commerce platforms is a must, as businesses adopt omni-channel strategies to satisfy customer demands for smooth shopping experiences.

That’s all for Today in Payments. Stay tuned for your weekly dose of payments notes.