{"id":261215,"date":"2025-10-30T17:47:07","date_gmt":"2025-10-30T17:47:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/261215\/"},"modified":"2025-10-30T17:47:07","modified_gmt":"2025-10-30T17:47:07","slug":"fiservs-30-billion-wipeout-came-after-client-revolt-over-fees","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/261215\/","title":{"rendered":"Fiserv\u2019s $30 Billion Wipeout Came After Client Revolt Over Fees"},"content":{"rendered":"<p class=\"ArticleBodyText_articleBodyContent__17wqE typography_articleBody__3UcBa\" data-component=\"paragraph\">When Mike Lyons joined <a href=\"https:\/\/www.bloomberg.com\/quote\/FI:US\" target=\"_blank\" rel=\"noopener nofollow\" class=\"media-ui-Link_link-tVkXhPLPofs-\" data-component=\"link\">Fiserv Inc.<\/a> early this year, he was stepping into a fintech riding high with a record stock price. But the new top boss soon found himself firefighting a series of customer gripes.<\/p>\n<p class=\"ArticleBodyText_articleBodyContent__17wqE typography_articleBody__3UcBa\" data-component=\"paragraph\">Over and over, clients repeatedly voiced frustration that they\u2019ve had enough of the superfluous fees they were being charged for Clover, Fiserv\u2019s flagship point-of-sale system, according to people familiar with the matter, who asked not to be named discussing non-public deliberations. They were increasingly looking to take their business to cheaper alternatives, like <a href=\"https:\/\/www.bloomberg.com\/quote\/XYZ:US\" target=\"_blank\" rel=\"noopener nofollow\" class=\"media-ui-Link_link-tVkXhPLPofs-\" data-component=\"link\">Block Inc.<\/a>\u2019s Square or <a href=\"https:\/\/www.bloomberg.com\/quote\/TOST:US\" target=\"_blank\" rel=\"noopener nofollow\" class=\"media-ui-Link_link-tVkXhPLPofs-\" data-component=\"link\">Toast Inc.<\/a>, and they weren\u2019t looking back.<\/p>\n","protected":false},"excerpt":{"rendered":"When Mike Lyons joined Fiserv Inc. early this year, he was stepping into a fintech riding high with&hellip;\n","protected":false},"author":2,"featured_media":261216,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[9190,11918,28,102,1530,63104,112,140945,2005,1552,140946,3123],"class_list":["post-261215","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-banking","tag-block-inc","tag-business","tag-donald-john-trump","tag-fintech","tag-fiserv-inc","tag-markets","tag-mike-lyons","tag-new-york","tag-social-security-administration","tag-toast-inc-class-a","tag-white-house"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/261215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=261215"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/261215\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/261216"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=261215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=261215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=261215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}