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Fiserv (FISV) Adds Capital One to Its MoneyPass ATM Network

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Fiserv, Inc. (FISV - Free Report) has added Capital One (COF - Free Report) to its surcharge-free MoneyPass ATM network.

Per Fiserv’s deal with Capital One, more than 1,500 Capital One ATMs at Capital One branches, cafés and other select locations will come under the MoneyPass network. As many as 34,000 additional MoneyPass ATMs will be made accessible to Capital One 360 Checking customers for unlimited surcharge-free transactions.

The move demonstrates Fiserv’s bid to extend surcharge-free benefits to financial institutions to help boost their bottom line. This in turn is likely to benefit the company’s Payments segment that did particularly well in the last-reported quarter. Revenues of $1.4 billion increased 20.3% year over year.

The move comes on the heels of Fiserv integrating its Clover platform with Paychex (PAYX - Free Report) to help business owners simplify payroll and time & attendance management through the Clover App Market. Tasks such as payroll, staffing, time tracking and scheduling can now be done in a more efficient and time- and cost-effective manner.

Fiserv’s shares have gained 9.5% over the past six months compared with 4.7% rally of the industry it belongs to and 18.6% growth of the Zacks S&P 500 composite.

Zacks Rank and Stocks to Consider

Fiserv currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.

A better-ranked stock from the broader Zacks Business Services sector is Booz Allen Hamilton (BAH - Free Report) , carrying a Zacks #2 Rank (Buy). The long-term expected earnings per share (three to five years) growth rate for Booz Allen is 10.6%.

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