What Shopify and Fiserv Leaders are Saying About AI

15 hours ago 1

William Temple

Wed, March 11, 2026 astatine 7:18 AM CDT 4 min read

Fiserv (FISV) down 11.49% year-to-date with adjusted EPS guidance of $8.00-$8.30 for 2026, beneath 2025’s $8.64, aft adjusted operating borderline contracted to 34.9% from 42.9% and operating income fell 22.6% year-over-year to $1.291 billion. Shopify (SHOP) posted Q4 gross of $3.672 billion, up 30.58% year-over-year, with B2B GMV surging 96% successful 2025, Shop Pay GMV jumping 62%, and Shopify Payments present unrecorded successful 60 countries.
Fiserv is betting its translation costs output AI-driven commerce gains by 2027, portion Shopify is defending its durable momentum against concerns that AI disruption volition fracture merchant operations.
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Two of the astir important names successful payments and commerce conscionable reported earnings. One is rebuilding from the wrong out. The different can't look to dilatory down. What their leaders said reveals wherever each concern stands close now.

Fiserv (NYSE:FISV) CEO Mike Lyons inherited a institution mid-transformation, and his Q4 2025 net telephone made wide he's playing a agelong game.

The header numbers were rough. Adjusted operating borderline contracted from 42.9% to 34.9%, and operating income fell 22.6% year-over-year to $1.291 billion. A large chunk of that symptom came from $73 cardinal successful One Fiserv translation costs successful Q4 alone.

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But Lyons wasn't defensive. He was direct:

"No different institution has the assets, breadth and standard to link each parts of the fiscal ecosystem. Our unsocial presumption astatine the halfway of Commerce and Finance, 2 monolithic TAMs strengthens the marketplace presumption of some our merchant and fiscal solutions businesses."

That's the bull lawsuit successful 1 sentence. The carnivore lawsuit is the 2026 guidance calling for adjusted EPS of $8.00 to $8.30, perchance beneath the $8.64 posted successful 2025. The marketplace noticed: FISV is down 11.49% year-to-date.

The astir revealing Lyons punctuation came connected agentic AI:

"We spot agentic fundamentally changing the payments scenery and are moving with Google, Mastercard and Visa to bring agentic to mainstream commerce."

Fiserv is planting a emblem successful the adjacent question of commerce infrastructure. Whether the translation costs are worthy it depends connected whether that emblem means thing by 2027. Lyons has an Investor Day connected May 14, 2026 wherever he's promised a fuller update connected Project Elevate, the AI operational overhaul. That's the adjacent existent test.

Shopify (NYSE:SHOP) President Harley Finkelstein had a antithetic problem: explaining wherefore AI won't interruption what's already working.

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