Fiserv debuts Cash Flow Central, a new banking program that helps small businesses with digital payments through Clover POS systems.
By Staff Reporter | Financial Technology News
Fiserv launched Cash Flow Central this week to help banks serve small businesses better. The new program gives banks tools to offer digital payments and card processing services.
The program targets small business owners who need simple payment solutions. Banks can now offer Clover point-of-sale systems and merchant services to these customers.
Banks Turn Costs Into Revenue
Cash Flow Central aims to help banks make money from services that used to cost them. Many banks saw small business services as a cost center. Now they can earn revenue from payment processing.
“This program helps banks compete with fintech companies,” said Maria Rodriguez, a banking industry expert. “Small businesses want digital tools. Banks can now provide them.”
The program includes merchant acquiring services. This means banks can help businesses accept credit and debit card payments. Banks earn fees from each transaction.
Clover POS Integration Key Feature
The program centers on Clover point-of-sale systems. These devices help small businesses track sales and accept payments. Business owners can see sales data in real time.
Clover systems work with many payment types. Customers can pay with cards, phones or online. The system handles all these payment methods.
“Small businesses need tools that work together,” said Tom Chen, a retail technology consultant. “Clover gives them one system for everything.”
Targeting Community Banks
Cash Flow Central focuses on community banks and credit unions. These smaller institutions often struggle to offer modern payment services. The program gives them access to Fiserv’s technology.
Banks can now compete with large payment companies. They offer the same services but with personal customer relationships. This combination appeals to many small business owners.
The program also includes training for bank staff. Employees learn how to sell and support the payment services. This helps banks succeed with the new offerings.
Future Growth Plans
Fiserv plans to expand the program nationwide. The company wants to add more banks and credit unions. They also plan to add new features to the Clover systems.
The program could change how small businesses bank. Instead of using separate companies for banking and payments, they can get everything from one place.
“This is just the beginning,” Rodriguez said. “We’ll see more banks offering complete business solutions.”
Cash Flow Central represents a shift in banking strategy. Banks are moving from traditional services to full business support. This change could help them stay relevant as fintech companies grow.
The program launches as small businesses increasingly need digital tools. COVID-19 pushed many businesses online. They now expect their banks to offer modern payment solutions.