Fiserv inks Aldi Nord payments processing deal

Aldi Nord has selected Fiserv to enable in-store card payments across its German market.

Following Wirecard's collapse from FinTech darling to insolvency, the retailer decided at the end of June to transfer its entire in-store acquiring volume in Germany to a new provider.

Within four days, Aldi Nord and Fiserv reached an agreement, and Fiserv began processing payments for more than 2,250 locations in the country within 12 hours of a deal being signed. This is being done via TeleCash from First Data, now Fiserv.

“Fiserv is a trusted, proven provider in the payments industry, and when we were faced with sudden market changes, we knew we could turn to them for our acquiring needs,” says Sven Schulze, Head of Finance at Aldi Nord.

“The excellent cooperation between our companies enabled us to pivot to a new in-store card payment solution with impressive speed, and do so without any disruption to our business.”

Aldi Nord has been a Fiserv client for 15 years, tapping network service provider services for routing and switching payment transactions. In November 2019, Fiserv was chosen to power the launch of Aldi Nord and Aldi Süd’s first online ordering capabilities for home delivery, Aldi liefert.