Fiserv
31 named things its latest annual report says its results depend on, each in the company's own words. 21 of them are also named by other companies we've read.
Customers
U.S. federal, state and local governments
earns fromnamed as a riskThe contracts with these clients may contain terms that are not typical for non-government clients, such as the right to terminate for convenience, the right to unilaterally modify or reduce work to be provided under the contract, significant or unlimited indemnification obligations and being subject to appropriation of funds for the government contract program.Risk factors (Item 1A)
Partners and platforms
Mastercard
subject tonamed as a riskIn order to provide our transaction processing services, several of our subsidiaries are registered with Visa and Mastercard and other networks as members or service providers for member institutions.Risk factors (Item 1A)
Also named by AXP, CASH, COF, CPAY, DDS, EEFT, FIS, GPN and 7 more
Visa
subject tonamed as a riskIn order to provide our transaction processing services, several of our subsidiaries are registered with Visa and Mastercard and other networks as members or service providers for member institutions.Risk factors (Item 1A)
Also named by AFRM, AXP, CASH, COF, EEFT, FIS, GPN, JKHY and 6 more
Automated Clearing House (ACH) network
depends onnamed as a riskWe rely on third parties we do not control to provide us with products and services, including payment card networks, acquiring processors, payment card issuers, financial institutions and the Automated Clearing House (“ACH”) network which transmit transaction data, process chargebacks and refunds, and perform clearing services in connection with our settlement activities.Risk factors (Item 1A)
Merchant alliance partners (banks)
depends onnamed as a riskThe loss of merchant relationships or alliance partners could negatively impact our business and have a material adverse effect on our results of operations and financial condition.Risk factors (Item 1A)
Independent sales organizations (ISOs)
depends onnamed as a riskWe rely on these ISOs and sub-ISOs to exercise appropriate controls to avoid fraudulent transactions.Risk factors (Item 1A)
Other companies
Subscriber funds and settlement cash interest income
exposed to its price · $3.6 billionnamed as a riskSubscriber funds and intermediary settlement cash balances earning interest averaged $3.6 billion during the year ended December 31, 2025.Market risk (Item 7A)
Places
Argentina
exposed to its price · foreign currency exchange losses of $158 million and $98 millionnamed as a riskThe remeasurement of monetary assets and liabilities in highly inflationary economies, including Argentina, resulted in foreign currency exchange losses of $158 million and $98 million during the years ended December 31, 2025 and 2024, respectively, which is included within other expense, net in the consolidated statements of income.Market risk (Item 7A)
Also named by BALL, C, ECL, GMED, INGR, JNJ, KMB, MDLZ and 6 more
Commodities and inputs
Indian Rupee
exposed to its price · $323 millionnamed as a riskAt December 31, 2025, the notional amount of these derivatives was $323 million, with a fair value liability of $11 million.Market risk (Item 7A)
Also named by ACN, ADBE, AJG, AVY, BEN, CIEN, CTSH, EEFT and 11 more
Point-of-sale devices and payment card chips
depends onnamed as a riskWe may be negatively impacted by a disruption to our supply chain or third-party delivery service providers, including if the factories that manufacture our point-of-sale devices, payment cards or computer chips for payment cards, or paper stock are temporarily closed or experience workforce shortages; shipping services are interrupted or delayed; there are increased lead times, shortages or higher costs for certain materials and components; or there are workforce shortages at our third-party customer support, software development or technology hosting facilities.Risk factors (Item 1A)
Card association and debit network interchange fees
exposed to its pricenamed as a riskFrom time to time, card associations and debit networks, including the card networks which we own, increase the processing and other fees (including what is commonly called “interchange fees”) that they charge.Risk factors (Item 1A)
Regulators
Consumer Financial Protection Bureau (CFPB)
subject tonamed as a riskCFPB rules, examinations and enforcement actions may require us to adjust our activities and may increase our compliance costs.Risk factors (Item 1A)
Also named by ABNB, AFRM, ALLY, AN, AUB, AXP, BAC, CASH and 61 more
Nacha
subject tonamed as a riskIf we fail to comply with the applicable requirements of the payment card networks and Nacha, they could seek to fine us, suspend us or terminate our registrations, which could adversely affect our business.Risk factors (Item 1A)
Financial Crimes Enforcement Network
subject toOur Money Network Financial, LLC subsidiary provides prepaid access for various open loop prepaid programs for which it is the program manager and therefore must meet the requirements of the Financial Crimes Enforcement Network.Business (Item 1)
Also named by ABNB, ADP, AFRM, BMNR, COIN, CORZ, EEFT, SNEX and 2 more
Federal Financial Institutions Examination Council (FFIEC)
subject toWe are regulated based on the uniform principles, standards, and guidance created by the Federal Financial Institutions Examination Council (“FFIEC”).Business (Item 1)
Georgia Department of Banking and Finance
subject toWe are also subject to regulation by the Georgia Department of Banking and Finance in connection with our subsidiary’s Merchant Acquirer Limited Purpose Bank (“MALPB”) in Georgia, by the New Hampshire Banking Department in connection with our subsidiary’s trust company in New Hampshire and by the Colorado Division of Banking in connection with our subsidiary’s trust company in Colorado.Business (Item 1)
Also named by FIS
Laws and programs
General Data Protection Regulation (GDPR)
subject tonamed as a riskGDPR imposes strict rules on the transfer of personal data out of the E.U. or U.K. to a “third country,” including the United States, unless particular transfer mechanisms are implemented.Risk factors (Item 1A)
Also named by A, AB, ABNB, ADBE, ADP, AGX, AIOT, AJG and 100 more
U.S. tariffs
exposed to its pricenamed as a riskIf the U.S. administration or other countries impose new or increased tariffs, trade restrictions or restrictions on the cross-border flow of data, our procurement of hardware devices, supply of materials and access to certain markets, could be impacted.Risk factors (Item 1A)
Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more
Payment Card Industry Data Security Standard
subject tonamed as a riskIn addition, we are subject to Nacha rules relating to payment transactions processed by us using the ACH network and to various federal and state laws regarding such operations, including laws pertaining to electronic fund transfer and electronic benefits transactions, as well as the Payment Card Industry Data Security Standard enforced by the major card brands.Risk factors (Item 1A)
Also named by ABNB, AZO, BJ, BKNG, CASH, CASY, COST, DOV and 20 more
GENIUS Act
subject tonamed as a riskAdditionally, given the relative recency of the GENIUS Act, it is not clear what the market demand will be for our stablecoin offering from our financial institution customers.Risk factors (Item 1A)
Also named by AUB, C, CFR, COF, COIN, CUBI, EWBC, FCNCA and 15 more
Dodd-Frank Wall Street Reform and Consumer Protection Act
subject tonamed as a riskThese regulations impact our card processing and debit network businesses.Business (Item 1)
Also named by BAM, CAT, CME, ELS, FNF, LEN, SPGI, TROW and 1 more
Digital Operational Resilience Act (DORA)
subject tonamed as a riskAdditionally, we are subject to the E.U. Regulation known as the Digital Operational Resilience Act (“DORA”).Risk factors (Item 1A)
Federal Reserve Regulation II
subject tonamed as a riskIn the U.S., we are subject to the Dodd-Frank Wall Street Reform and Consumer Protection Act, which, among other things, and in conjunction with the Federal Reserve Board’s Regulation II, caps debit interchange rates for certain debit and prepaid card issuers; prohibits card issuers and payment networks from restricting the ability of merchants to direct the routing of debit card transactions; requires all debit card issuers in the U.S. to participate in at least two unaffiliated debit payment card networks; prohibits payment card networks from restricting debit and prepaid card issuers from contracting with other payment card networks; and generally prohibits network exclusivity arrangements for debit card and prepaid card issuers.Business (Item 1)
Bank Secrecy Act
subject toWe are subject to anti-money laundering laws and regulations, including the U.S. Bank Secrecy Act (“BSA”).Business (Item 1)
Also named by AUB, BAC, CASH, CPAY, CUBI, EFSC, EWBC, EZPW and 10 more
Fair Credit Reporting Act
subject toTeleCheck, our check acceptance business, is subject to FCRA and various similar state laws.Business (Item 1)
Bank Service Company Act
subject toBecause a number of our businesses provide services to regulated financial institutions, we are considered to be a significant service provider under the Bank Service Company Act and, as a result, we are subject to examination by the U.S. Federal Banking Agencies, which are comprised of the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency.Business (Item 1)
Also named by JKHY
Fair Debt Collection Practices Act
subject toThe collection business within our subsidiary TRS Recovery Services, Inc. (“TRS”) is subject to the U.S. federal Fair Debt Collection Practices Act and various similar state laws.Business (Item 1)
Technology
Clover
earns fromWe plan to grow our Clover small business operating system through enhanced product features and functionality and client service; new and expanded industries, partnerships and geographies; and the integration of Clover into Commerce HubTM and embedded finance solutions.Business (Item 1)
Accel, STAR and MoneyPass debit networks
earns fromWe also own and operate the Accel®, STAR® and MoneyPass® networks, which provide access to funds for debit card purchases through any physical and online channel.Business (Item 1)