Direct Answer
Fiserv reports revenue across 2 business segments in its fiscal 2025 Form 10-K. Merchant Solutions is the largest, with $10.1 billion of revenue (48% of the total), followed by Financial Solutions at $9.7 billion (46%).
How Does Fiserv Make Money?
No single line supplies a majority of revenue: the largest, Merchant Solutions, is 48%, which spreads Fiserv's exposure across several demand drivers. Between fiscal 2024 and 2025, Merchant Solutions grew fastest (+5.3%) and Financial Solutions slowest (+2.0%), so the revenue mix tilts toward Merchant Solutions while that gap lasts.
| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Merchant Solutions | $10.1 billion | $9.6 billion | 47.8% | 5.3% |
| Financial Solutions | $9.7 billion | $9.5 billion | 45.6% | 2.0% |
Which Fiserv Segments Earn the Most?
| Segment | FY2025 segment operating income | Segment margin |
|---|---|---|
| Merchant Solutions | $3.5 billion | 34.5% |
| Financial Solutions | $4.4 billion | 45.3% |
Segment operating income is the profit measure Fiserv reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within Fiserv more safely than against another company.
What Does Fiserv Sell?
Fiserv also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business.
| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Processing and Services | $16.9 billion | $16.6 billion | 79.6% | 1.5% |
| Product | $4.3 billion | $3.8 billion | 20.4% | 13.0% |
What the Segment Figures Do Not Show
The rows above add up to 93% of Fiserv's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Fiserv reported in the segment note and revenue disclosures of its Form 10-K filed February 19, 2026 (accession 0000798354-26-000009), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Fiserv's business segments?
In its fiscal 2025 Form 10-K, Fiserv reports revenue for Merchant Solutions and Financial Solutions.
Which part of Fiserv brings in the most revenue?
Merchant Solutions, with $10.1 billion of revenue in fiscal 2025, or 48% of the total.
Where does Fiserv report its segment results?
In the segment note to the financial statements in its Form 10-K, most recently filed February 19, 2026, alongside management's discussion of each segment's results.