NEW YORK — February 12, 2026
Executive Summary
Knot has announced a strategic partnership with Fiserv to integrate its CardSwitcher™ technology with Lyft Direct, enabling Lyft drivers to update their payment credentials across merchants and subscription services automatically. The initiative is designed to reduce payment disruptions caused by card replacements or reissuances and to provide uninterrupted access to earnings for gig economy workers who rely on Lyft Direct for daily financial activity. According to the company, the partnership allows drivers to update saved payment methods across hundreds of merchants without manual entry, improving continuity of payments and reducing failed transactions. The collaboration combines Knot’s merchant connectivity infrastructure with Fiserv’s payment technology capabilities to address operational friction in card-on-file management. The integration also reflects broader efforts by both companies to enhance digital payment experiences, support gig economy financial workflows, and expand card lifecycle management across financial services ecosystems.
Announcement Overview
Knot announced a partnership with Fiserv to bring its CardSwitcher technology to Lyft Direct cardholders, providing automated updating of card-on-file payment credentials across participating merchants. The integration is designed to address operational challenges experienced by gig economy workers when payment cards are replaced, updated, or reissued.
According to the company, Lyft drivers depend on the Lyft Direct card to access earnings instantly and manage everyday expenses. When a card changes due to expiration, replacement, or reissuance, drivers typically must manually update payment details across multiple merchant platforms. This process can result in failed payments, interrupted services, and delays in financial transactions. Knot stated that its CardSwitcher solution automates this process by enabling users to update saved payment methods across merchant accounts through a centralized workflow.
The partnership combines Knot’s merchant connectivity platform with Fiserv’s payment infrastructure to support card lifecycle management and improve transaction continuity. Through the integration, Lyft Direct users can maintain consistent payment credentials across services without visiting individual merchant websites or entering updated card information manually.
Knot stated that the collaboration supports its broader objective of expanding card-on-file management capabilities across financial institutions, merchants, and payment ecosystems while reducing friction in digital payments.
Key Announcement Details
- Announcement type: Strategic partnership and technology integration
- Announcement category: Fintech infrastructure and digital payments update
- Companies involved: Knot, Fiserv
- Platform enabled: Lyft Direct
- Product deployed: Knot CardSwitcher technology
- Technology classification: Merchant connectivity and card-on-file credential management system
- Core function: Automated updating of stored payment credentials across merchant platforms
- Primary objective: Reduce payment friction and prevent transaction failures
- Target users: Lyft drivers and Lyft Direct cardholders
- User segment classification: Gig economy workers and platform-based earners
- Payment instrument supported: Lyft Direct debit card
- Payment workflow supported: Card lifecycle management and credential synchronization
- Card lifecycle events supported: Card reissuance, replacement, expiration, credential updates
- User action required: Centralized credential update through CardSwitcher interface
- User process eliminated: Manual entry of updated card details across merchant accounts
- Merchant coverage: Hundreds of merchants and subscription services
- Merchant requirement: No direct technical integration required
- Merchant benefit: Reduced payment failures and improved transaction continuity
- Transaction outcome: Lower declined transactions and uninterrupted recurring payments
- Subscription impact: Continuous subscription billing and service access
- Checkout impact: Improved payment authorization continuity
- Payment ecosystem role: Consumer–merchant–financial institution connectivity
- Infrastructure contribution: Fiserv payment processing and financial infrastructure support
- Platform capability: Secure credential synchronization across participating merchants
- Security posture: Secure handling and transmission of payment credentials
- Operational benefit: Reduced administrative burden for users
- Financial access outcome: Continuous access to earnings and daily spending capability
- Industry focus: Digital payments and fintech infrastructure
- Market segment: Gig economy financial services and digital commerce
- Geographic scope: United States digital payments ecosystem
- Strategic outcome: Expanded card-on-file management capabilities
- Business impact: Improved payment reliability and transaction success rates
- Implementation model: Centralized credential update mechanism
- Distribution channel: Lyft Direct financial services platform
- Technology environment: Payment infrastructure and merchant network connectivity
Strategic Context
According to Knot, the partnership addresses operational friction within the gig economy, where workers rely on immediate access to earnings through digital payment cards. Gig economy platforms often use prepaid or debit card solutions that allow workers to receive payments in real time. When these cards are reissued or replaced, users must update stored payment credentials across multiple services, which can disrupt financial workflows.
The company stated that manual updating of card information across merchant platforms creates operational inefficiencies, increases payment failure rates, and introduces service interruptions. Knot indicated that CardSwitcher is designed to reduce this friction by automating credential updates and maintaining continuity of card-on-file payments.
The collaboration with Fiserv reflects broader industry efforts to improve payment reliability, streamline credential management, and support digital financial infrastructure for platform-based workers. According to the company, integrating automated credential updates into payment ecosystems can improve transaction success rates and support consistent financial access for users.
Addressing Payment Challenges for Gig Economy Workers
Knot stated that gig economy workers depend on reliable payment access to manage daily expenses, subscriptions, and recurring transactions. Lyft drivers using Lyft Direct rely on instant earnings deposits and continuous payment functionality to support everyday financial activity.
When payment cards are replaced due to expiration, loss, or fraud prevention measures, users must typically update stored payment information across multiple merchant accounts. According to Knot, this process can be time-consuming and may result in declined transactions, service interruptions, or delayed payments.
The company stated that CardSwitcher addresses this issue by enabling centralized updates of payment credentials. Through the technology, users can ensure their saved card information remains current across supported merchants without manual intervention. Knot indicated that this process reduces administrative effort while supporting uninterrupted financial activity.
Technology Implementation and Operational Functionality
Through the partnership, Lyft Direct cardholders gain access to Knot’s CardSwitcher technology, which allows users to update card-on-file credentials across participating merchants through a centralized interface. According to the company, when a payment card is updated, replaced, or reissued, the user can initiate a credential update process that automatically synchronizes stored payment details across supported platforms.
Knot stated that the solution eliminates the need for users to log in to individual merchant accounts to update payment information. The process is designed to reduce administrative complexity and maintain transaction continuity.
The company also indicated that its technology operates without requiring direct technical integration from merchants. According to Knot, this allows broad merchant participation while providing a consistent user experience.
Knot stated that the system is designed to provide a secure credential update process and support payment reliability across subscription services, digital platforms, and recurring billing environments.
Leadership Statement
“Lyft drivers work hard every day, and they deserve payment solutions that work just as hard for them,” said Rory O’Reilly, Chief Executive Officer and Co-Founder of Knot. “By partnering with Fiserv to bring CardSwitcher to Lyft Direct, we’re eliminating the hassle of updating payment information across multiple platforms. This means fewer failed payments, less disruption, and more time for drivers to focus on what matters most: earning and driving with confidence.”
Role of Fiserv in the Integration
According to the announcement, Fiserv provides payment infrastructure supporting the integration of CardSwitcher with Lyft Direct. The collaboration combines Knot’s merchant connectivity capabilities with Fiserv’s financial technology infrastructure to support credential management and transaction processing.
Knot stated that the partnership reflects a shared focus on improving digital payment experiences and reducing friction in financial services. The company indicated that integrating merchant connectivity with payment infrastructure enables more efficient card lifecycle management and improves payment reliability across digital commerce environments.
The collaboration also supports broader adoption of automated credential management within financial services platforms and digital payment ecosystems.
Merchant and Payment Ecosystem Impact
Knot stated that its CardSwitcher technology supports merchants by reducing failed payment attempts and improving transaction continuity. According to the company, automated credential updates can help merchants maintain active customer accounts and reduce payment disruptions associated with outdated card information.
The company indicated that improved payment continuity may support transaction completion and reduce service interruptions across subscription and recurring billing environments. Knot also stated that the technology contributes to improved checkout performance and transaction success rates by maintaining accurate card credentials.
According to the company, the partnership demonstrates how merchant connectivity solutions can enhance payment reliability across financial ecosystems involving consumers, merchants, and financial institutions.
Expansion of Fintech Partnerships and Network Growth
Knot stated that the partnership with Fiserv represents continued expansion of its network of financial institution and fintech collaborations. According to the company, it has previously worked with organizations including American Express, PayPal, Bilt, OnePay, and Step to support card-on-file management and merchant connectivity solutions.
The company indicated that expanding partnerships across financial services and digital commerce platforms supports broader adoption of automated payment credential management. According to Knot, its network approach enables integration across payment providers, merchants, and consumer financial platforms.
Knot stated that continued expansion of partnerships supports its objective of simplifying payment interactions and improving digital transaction experiences across financial ecosystems.
Building Payment Continuity Across Card Lifecycle Management
According to Knot, card lifecycle management represents a critical component of digital payments infrastructure. Payment cards may be reissued for multiple reasons, including expiration, replacement, security updates, or account changes. These events can create operational friction when stored payment credentials become outdated.
The company stated that automated credential management helps maintain continuity across payment workflows by ensuring stored payment methods remain current. According to Knot, CardSwitcher supports this process by enabling centralized management of payment credentials across merchant platforms.
Knot indicated that maintaining accurate card-on-file data supports transaction success, reduces payment friction, and improves user experience across digital commerce environments.
About Knot
Knot is a merchant connectivity platform focused on enabling interaction between consumers, merchants, and financial institutions through payment credential management and transaction data services. The company develops technology that allows users to update payment details, manage stored payment credentials, control subscription payments, and access transaction-level data across merchant networks.
The company provides card-on-file management solutions that allow financial institutions to support card adoption and maintain transaction continuity across digital commerce environments. Knot’s technology enables automated switching of saved payment methods at user request, helping reduce operational friction in payment workflows.
Knot reports that its platform supports connectivity across hundreds of merchants and continues to expand its merchant coverage through new integrations. The company focuses on improving digital payment experiences through secure credential management, merchant connectivity infrastructure, and payment lifecycle services.
Knot provides services to financial institutions, payment platforms, merchants, and digital commerce providers seeking to streamline payment credential management and improve transaction reliability. The company operates within the financial technology sector and supports digital payments infrastructure across consumer and business financial ecosystems.
Media Contact
For additional information, visit knotapi.com & fiserv.com.
Source Attribution
Source: Company announcement
