Block vs Fiserv: Founders, CEOs and History
Block was founded in 2009 by Jack Dorsey, Jim McKelvey and is led by Jack Dorsey. Fiserv was founded in 1984 by Leslie M. Muma, George D. Dalton and is led by Takis Georgakopoulos.
Company facts
Founders
Block
Jack Dorsey
Dorsey co-founded Square in 2009 with Jim McKelvey after McKelvey lost a glass sale he could not take by card, and has run the company ever since: through the 2015 IPO, the rise of Cash App, the December 2021 rename to Block, the Afterpay purchase and, in Febr…
Jim McKelvey
McKelvey's lost $2,000 glass sale is Square's origin story. He worked with Dorsey and engineer Tristan O'Tierney on the first reader and the flat-pricing business model, and later wrote 'The Innovation Stack' (2020), which explains how Square survived copycats…
Fiserv
Leslie M. Muma
Leslie M. Muma is a co-founder of Fiserv. He led the company's Florida operations after the 1984 merger, served as president for many years and later succeeded George Dalton as CEO, leading Fiserv until Jeff Yabuki took over in 2005.
George D. Dalton
George D. Dalton co-founded Fiserv in 1984 and served as its first CEO and chairman.
CEOs and their tenures
Block
- Jack Dorsey2009–present
Co-Founder, Block Head and Chairman (Chief Executive)
Has led Square and Block since 2009: the 2015 IPO, the growth of Cash App, the 2021 rename to Block, the Afterpay purchase, bitcoin projects such as Bitkey and Proto, and the February 2026 cut to just under 6,000 employees.
Source - Alyssa Henry2014–2023
Seller Lead, then Chief Executive of the Square business
Joined from Amazon in 2014 as seller lead and became chief executive of the Square business when the parent was renamed Block in December 2021.
Source
Fiserv
- Jeff Yabuki2005–2020
Chief Executive Officer
Led the CheckFree acquisition in 2007 and the First Data merger in 2019.
Source - Frank J. Bisignano2020–2025
Chairman and Chief Executive Officer
Former First Data CEO; led the First Data integration and Clover expansion before becoming Commissioner of the Social Security Administration in 2025.
Source - Paul Todd2025–present
Chief Financial Officer
Former Global Payments CFO; succeeded Bob Hau in October 2025.
Source - Michael P. Lyons2025–2026
President and Chief Executive Officer
Former PNC president; CEO from May 2025 to June 2026. Launched the 'One Fiserv' plan and reset guidance in October 2025 before leaving to lead Truist.
Source - Takis Georgakopoulos2026–present
Chief Executive Officer
Joined Fiserv in late 2024 and served as co-president for technology and merchant solutions; appointed CEO and director in June 2026.
Source
Timeline: Block and Fiserv side by side
1984Fiserv
Fiserv founded
George Dalton's Milwaukee data processing operation and Leslie Muma's Sunshine State Systems combined to form Fiserv.
1986Fiserv
Nasdaq IPO
Fiserv went public on Nasdaq under the ticker FISV.
2007Fiserv
CheckFree acquisition
Bought online bill payment company CheckFree for about $4.4 billion.
2009Block
Square founded in St. Louis
Jack Dorsey and Jim McKelvey start Square in February 2009 after McKelvey loses a $2,000 glass sale because he cannot take an American Express card. With engineer Tristan O'Tierney they build a reader that plugs into a phone's headphone jack.
2010Block
Square reader and app go public
Square releases its free card reader and app, letting individuals and small sellers take card payments on a smartphone at one published rate instead of signing a bank merchant contract.
2011Block
Visa invests in Square
Visa makes a strategic investment in Square in April 2011, a sign the card networks saw the startup as widening card acceptance rather than threatening it.
2012Block
Starbucks deal
Starbucks invests $25 million and Square starts processing card payments at about 7,000 U.S. Starbucks stores, with Dorsey joining the Starbucks board.
2013Block
Square Cash launches
Square launches Square Cash in October 2013, letting people send money to each other by email. It later becomes Cash App.
2014Block
Square Capital and Caviar
Square starts lending to its own sellers through Square Capital in May 2014, with repayments taken as a share of daily card sales, and buys food delivery service Caviar.
2015Block
IPO on the New York Stock Exchange
Square lists on the NYSE as SQ on November 19, 2015 at $9 a share, a valuation of about $2.9 billion, raising about $243 million.
2018Block
Cash App adds bitcoin; Square buys Weebly
Cash App, which added the Cash Card debit card in 2017, lets users buy bitcoin from 2018, and Square buys website builder Weebly for $365 million. Commission-free stock investing follows in 2019.
2019Fiserv
First Data merger
Completed the all-stock acquisition of First Data, valued around $22 billion, adding Clover and merchant acquiring.
2020Block
Bitcoin treasury, Verse and Credit Karma Tax
The FDIC approves deposit insurance for Square Financial Services in March 2020. Square buys Spanish payments app Verse in June, puts $50 million into 4,709 bitcoin in October, and agrees in November to buy Credit Karma Tax for $50 million.
2020Fiserv
Frank Bisignano becomes CEO
Former First Data CEO Frank Bisignano succeeded Jeff Yabuki.
2021Block
TIDAL purchase and Square's own bank opens
Square Financial Services opens on March 1, 2021, and Square agrees the same month to buy a majority of the TIDAL music service for $297 million in cash and stock, with Jay-Z joining its board.
2021Block
Afterpay deal announced
Square agrees in August 2021 to buy Afterpay, the Australian buy now, pay later company, in an all-stock deal valued at about $29 billion.
2021Block
Square becomes Block
On December 10, 2021, Square, Inc. renames itself Block, Inc., shortly after Dorsey steps down as Twitter's chief executive. Square remains the name of the seller business.
2022Block
Afterpay acquisition closes
Block completes the Afterpay purchase on January 31, 2022. Because it paid in its own shares, which had roughly halved since the announcement, the deal was worth much less at closing than the headline $29 billion.
2023Block
Hindenburg report, Square leadership change and Bitkey
Short seller Hindenburg Research accuses Cash App in March 2023 of inflated user metrics and weak compliance, which Block rejects.
2023Fiserv
Move to NYSE as FI
Fiserv transferred its listing to the New York Stock Exchange under the ticker FI.
2024Block
Proto mining chip and portfolio cuts
Block says in April 2024 it has designed a 3-nanometer bitcoin mining chip, agrees in July to supply Core Scientific, and in November winds down its TBD crypto unit and scales back TIDAL.
2025Block
Cash App settlements and the XYZ ticker
In January 2025 the CFPB orders Block to pay up to $120 million in Cash App redress plus a $55 million penalty, state regulators impose an $80 million anti-money-laundering penalty, and the ticker changes from SQ to XYZ.
2025Block
Block joins the S&P 500
Block enters the S&P 500 on July 23, 2025, replacing Hess, and at its November investor day sets 2028 targets of about $15.8 billion of gross profit and $4.6 billion of adjusted operating income.
2025Fiserv
Mike Lyons becomes CEO; stock crashes
Lyons took over in May 2025 when Bisignano became Social Security Commissioner. On October 29, 2025, shares fell 44% after a guidance cut; Paul Todd became CFO and the company returned to Nasdaq as FISV.
2026Block
Workforce cut to under 6,000
On February 26, 2026, Dorsey announces Block will shrink from more than 10,000 employees to just under 6,000, citing AI, and the shares jump about 24%.
2026Fiserv
Takis Georgakopoulos named CEO
Lyons left in June 2026 to run Truist; Georgakopoulos was appointed CEO. In August, Fiserv cut 2026 guidance after a 4% Q2 revenue decline.
Acquisitions
Block
- Afterpay2022$29B
- TIDAL (majority stake)2021$297M
- Credit Karma Tax (now Cash App Taxes)2020$50M
- Verse2020Undisclosed
- Weebly2018$365M
- Caviar2014$90M
Fiserv
- Finxact2022$650M
- First Data Corporation2019$22B
- CheckFree Corporation2007$4.4B
Questions about Block vs Fiserv
Who is the CEO of Block Inc and Fiserv, Inc.?
Block Inc is led by Jack Dorsey and Fiserv, Inc. is led by Takis Georgakopoulos. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Block Inc founded vs Fiserv, Inc.?
Fiserv, Inc. was founded in 1984 — 25 years before Block Inc, which was founded in 2009. Fiserv, Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Block Inc.
How many employees does Block Inc have compared to Fiserv, Inc.?
Block Inc employs approximately 10,205 people, while Fiserv, Inc. employs approximately 38,000. Fiserv, Inc. has the larger workforce at 38,000 employees, compared to Block Inc's 10,205. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Block Inc and Fiserv, Inc. headquartered?
Both Block Inc and Fiserv, Inc. are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.
Who founded Block Inc and Fiserv, Inc.?
Block Inc was founded by Jack Dorsey, Jim McKelvey. Fiserv, Inc. was founded by Leslie M. Muma, George D. Dalton.
Which company has a longer operating history — Block Inc or Fiserv, Inc.?
Fiserv, Inc. has been operating for approximately 42 years, making it the more established of the two companies. Block Inc has been in operation for around 17 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Block vs Fiserv overview