Fast Company has named Fiserv, Inc. to its list of World’s Most Innovative Companies 2021, a group of businesses that have not only found a way to be resilient in the past year, but also turned those challenges into impact-making processes.
Fiserv (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, was recognized for its role in facilitating the acceptance of online Electronic Benefits Transfer (EBT) payments in support of the United States Department of Agriculture’s (USDA) Supplemental Nutrition Assistance Program (SNAP) Online Purchasing Pilot. The program scaled rapidly in 2020 to allow millions of underserved Americans to buy groceries online for the first time.
“Demand for online grocery ordering grew in 2020 as consumers sought to avoid in-person shopping due to the COVID-19 pandemic, and the USDA wanted to make online commerce capabilities available to SNAP recipients while adhering to the guidelines of the program,” said Nandan Sheth, Head of Carat and Digital Commerce at Fiserv. “We are proud that our technology helped make this possible and are committed to helping provide equitable online purchasing access to the millions of people who rely on SNAP benefits to purchase groceries for their families.”
All EBT transactions, in-person or online, require the use of the cardholder’s PIN to authenticate the transaction. Leveraging a proprietary PIN-on-glass solution that is part of Carat, an omnichannel commerce ecosystem from Fiserv, grocers are able to create a digital PINpad within their digital commerce environment that allows EBT cardholders to verify their transaction.
In order to identify the World’s Most Innovative Companies, Fast Company’s editors and writers sought out the most groundbreaking businesses across the globe and industries. They also judged nominations received through their application process. The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy.
“In a year of unprecedented challenges, companies like Fiserv have made an impact on their industries and culture as a whole by exhibiting fearlessness, ingenuity, and creativity in the face of crisis,” said Fast Company Deputy Editor David Lidsky, who oversaw the issue with Senior Editor Amy Farley.
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
