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Fiserv Inc. is partnering with Genesis Bank to provide low-to-moderate income small businesses in Southern California serviced by the bank access to its Clover point-of-sale technology at a reduced cost.
The deal opens the door for low-to-moderate income small businesses a way to access to select Clover technology bundles with no or low entry costs and significantly discounted subscription fees. These small businesses have typically been an underserved market when it comes to accessing point-of-sale technology, Fiserv says. Clover Flex or Clover Mini rentals have a one-cent monthly fee, according to a Genesis Bank Web site, a promotion that expires May 15. A discount of up to $550 also is available for the purchase of select Clover equipment.
“Genesis Bank recognizes cost burden as being a significant barrier to gaining access to such essential technology, especially for the diverse small business owners and entrepreneurs that have historically been underserved,” Stephen H. Gordon, chairman and chief executive for Newport Beach, Calif.-based Genesis Bank says in a statement. “Accordingly, we believe this affordable Clover offering will further support our mission to make an impact in the diverse, entrepreneurial [low-to-moderate income] communities we serve across Southern California, extending our collective reach into those businesses in need of such essential technology.”
Genesis Bank focuses on serving small to mid-sized businesses and owners, and investors in Los Angeles, Orange, Riverside and San Bernardino counties. The bank has also been designated by the FDIC as a minority depository institution, and is one of two diverse, multiracial MDIs in the United States.
“The best way to help small businesses is to meet them where they are, and many of our MDI clients are already there,” Neil Wilcox, head of corporate social responsibility for Fiserv says in a statement.
