In a separate report, Mizuho said Fiserv and other payment companies could be beneficiaries of the Trump administration's tariffs due to higher payment processing from rising prices. The Clover business, in particular, stands to benefit, as transaction volumes increase at restaurants and other small businesses, the firm said.
Still, analysts noted a few risks to Fiserv's momentum, such as a potential slowdown in new U.S. merchant customers and bank consolidation.