<PAGE>
                                                                     Exhibit 4.2

     UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE COMPANY OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IN
EXCHANGE FOR THIS NOTE OR ANY PORTION HEREOF IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE
HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER AND HOLDER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

REGISTERED                                      Principal Amount $       ,000
No. R-                                                            -------
                                                as revised by the Schedule of
                                                Changes in Outstanding Principal
                                                Amount attached hereto as
                                                Schedule 1

CUSIP NO.  337738 AC 2

                                  FISERV, INC.

                                4% NOTE DUE 2008

     Fiserv, Inc., a Wisconsin corporation (the "Company", which term includes
any successor Person under the Indenture referred to on the reverse hereof), for
value received, hereby promises to pay Cede & Co., c/o The Depository Trust
Company, 55 Water Street, New York, New York 10041, or registered assigns, the
principal sum of                    Dollars ($_______,000) as revised by the
                 ------------------
Schedule of Changes in Outstanding Principal Amount attached hereto as Schedule
1 on April 15, 2008 (the "Stated Maturity Date"), unless this Note is redeemed
on a Redemption Date (as defined on the reverse hereof) prior to the Stated
Maturity Date in accordance with the provisions specified on the reverse hereof
(such Stated Maturity Date or any Redemption Date is referred to herein as the
"Maturity Date" with respect to the principal repayable on such date), and to
pay interest on the outstanding principal amount of this Note from April 11,
2003 or, if applicable, the most recent "Interest Payment Date" to which
interest has been paid or duly made available for payment, semi-annually in
arrears on April 15 and October 15 of each year, commencing October 15, 2003,
and, if applicable, on the Maturity Date, at the rate of 4% per annum, until the
principal hereof is paid or duly made available for payment.

     The interest so payable, and punctually paid or duly made available for
payment, on any Interest Payment Date will, as provided in the Indenture, be
paid to the Person in whose name this Note (or one or more Predecessor Notes) is
registered at the close of business on the "Regular Record Date" for such
interest, which shall be the March 31 or September 30 (whether or not a Business
Day), as the case may be, immediately preceding such Interest Payment Date. Any
such interest not so punctually paid or duly made available for payment shall
forthwith cease to be payable to the Holder on such Regular Record Date and may
either be

                                       1

<PAGE>

paid to the Person in whose name this Note (or one or more Predecessor Notes) is
registered at the close of business on a Special Record Date for the payment of
such Defaulted Interest to be fixed by the Trustee referred to on the reverse
hereof, notice of which shall be given to Holders of Notes not less than 10 days
prior to such Special Record Date, or be paid at any time in any other lawful
manner not inconsistent with the requirements of any securities exchange on
which the Notes may be listed, and upon such notice as may be required by such
exchange, all as more fully provided in the Indenture.

     Interest payments on this Note will be computed and paid on the basis of a
360-day year of twelve 30-day months. Interest payable on this Note on any
Interest Payment Date and, if applicable, on the Maturity Date will include
interest accrued from and including the most recent Interest Payment Date to
which interest has been paid or duly made available for payment (or April 11,
2003, if no interest has been paid or been duly made available for payment) on
this Note to but excluding such Interest Payment Date or the Maturity Date, as
the case may be.

     The principal of and premium, if any, and interest, if any, on this Note
payable on the Maturity Date will be paid against presentation of this Note at
the office or agency of the Company maintained for that purpose in the Borough
of Manhattan, The City of New York (the "Place of Payment"). The Company hereby
appoints BNY Midwest Trust Company as Paying Agent for the Notes where Notes may
be presented or surrendered for payment or transfer or exchange and where
notices, designations or requests in respect of payments with respect to the
Notes may be served.

     If any Interest Payment Date or the Maturity Date falls on a day that is
not a Business Day (as defined below), principal, premium, if any, or interest
payable with respect to such Interest Payment Date or the Maturity Date, as the
case may be, will be paid on the next succeeding Business Day with the same
force and effect as if it were paid on the date such payment was due, and no
interest shall accrue on the amount so payable for the period from and after
such Interest Payment Date or the Maturity Date, as the case may be, to such
next succeeding Business Day. "Business Day" means any day other than Saturday,
Sunday or other day on which banking institutions in The City of New York are
obligated or authorized by law, regulation or executive order to close.

     Payments in respect of this Note will be made by the Company in immediately
available funds in such currency of the United States of America as at the time
of payment is legal tender for the payment of public and private debts.

     Reference is hereby made to the further provisions of this Note set forth
on the reverse hereof, which further provisions shall for all purposes have the
same effect as if set forth at this place.

     Unless the Certificate of Authentication hereon has been executed by the
Trustee by manual signature, this Note shall not be entitled to any benefit
under the Indenture or be valid or obligatory for any purpose.

                                       2

<PAGE>

     IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed.

                                        FISERV, INC.


                                        By:
                                            ------------------------------------
                                            Name:
                                            Title:

Attest:


By:
    ------------------------------------
    Name:
    Title:

                                       3

<PAGE>

                          CERTIFICATE OF AUTHENTICATION

      This is one of the Notes of the series designated therein referred to
in the Indenture.

BNY Midwest Trust Company,
   as Trustee


By:
    ------------------------------------
    Authorized Signatory

Dated:

                                       4

<PAGE>

                                 REVERSE OF NOTE

                                  FISERV, INC.

                                4% NOTE DUE 2008

     This Note is one of a duly authorized issue of senior debt securities of
the Company issued under an Indenture, dated as of April 11, 2003 (the
"Indenture"), among the Company and BNY Midwest Trust Company, as Trustee (the
"Trustee," which term includes any successor trustee under the Indenture), to
which Indenture and all indentures supplemental thereto reference is hereby made
for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the Notes
and of the terms upon which senior debt securities are, and are to be,
authenticated and delivered thereunder. This Note is one of the duly authorized
series of senior debt securities of the Company designated as "4% Notes due
2008" (the "Notes"), and the aggregate principal amount of the Notes to be
issued under such series is limited to $150,000,000 (subject to the provisions
of the Indenture). Capitalized terms used herein but not defined have the
meanings ascribed to such terms in the Indenture.

     In case an Event of Default with respect to the Notes shall occur and be
continuing, the principal of the Notes may, and in certain cases shall, be
accelerated in the manner and with the effect provided in the Indenture.

     This Note will be redeemable, in whole or in part, at the option of the
Company at any time or from time to time on a date fixed for redemption therefor
(a "Redemption Date") at a redemption price equal to the greater of (i) 100% of
the principal amount of this Note to be redeemed and (ii) as determined by the
Independent Investment Banker, the sum of the present values of the remaining
scheduled payments of principal of and interest on this Note or the portion
hereof to be redeemed (not including any unpaid interest accrued thereon to such
Redemption Date), discounted to such Redemption Date semiannually (assuming a
360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20
basis points, plus, in the case of each of clause (i) and (ii) above, unpaid
interest accrued thereon to the Redemption Date (collectively, the "Redemption
Price"). Notwithstanding the foregoing, the Company will pay any interest
installment due on an Interest Payment Date that occurs on or before a
Redemption Date to the Holder of this Note as of the close of business on the
Regular Record Date immediately preceding such Interest Payment Date.

     Written notice of any redemption will be mailed to the Holder of this Note
at least 30 days but not more than 60 days prior to the Redemption Date. Unless
the Company defaults in payment of the Redemption Price, on and after the
Redemption Date, interest will cease to accrue on this Note or the portion
hereof called for redemption.

     If less than all of the Notes are to be redeemed by the Company, the
Trustee will elect, in such manner as it deems fair and appropriate, the Notes
to be redeemed in whole or in part.

     This Note may not be repaid at the option of the Holder hereof prior to the
Stated Maturity Date and is not subject to, or entitled to the benefit of, any
sinking fund.

                                       5

<PAGE>

     The Indenture contains provisions for defeasance at any time of (i) the
entire indebtedness of this Note or (ii) certain respective covenants and Events
of Default with respect to this Note, in each case upon compliance with certain
conditions set forth therein.

     The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Notes at any time by the Company
and the Trustee with the consent of the Holders a majority in the principal
amount of the Notes at the time Outstanding. The Indenture also contains
provisions permitting the Holders of specified percentages in principal amount
of the Notes at the time Outstanding, on behalf of the Holders of all Notes, to
waive compliance by the Company with certain provisions of the Indenture and
certain past defaults under the Indenture and their consequences. Any such
consent or waiver by the Holder of this Note shall be conclusive and binding
upon such Holder and upon all future Holders of this Note and of any Note or
Notes issued upon the registration of transfer hereof or in exchange herefor or
in lieu hereof, whether or not notation of such consent or waiver is made upon
this Note.

     No reference herein to the Indenture and no provision of this Note or of
the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of and premium, if any, and
interest on this Note at the times, places and rate, and in the currency, herein
prescribed.

     As provided in the Indenture and subject to certain limitations herein and
therein set forth, the transfer of this Note is registrable in the Register,
upon surrender of this Note for registration of transfer at the office or agency
of the Company in the Place of Payment, duly endorsed by, or accompanied by a
written instrument of transfer in form satisfactory to the Company and the Note
Registrar duly executed by, the Holder hereof or its attorney duly authorized in
writing, and thereupon one or more new Notes, of any authorized denominations
and for the same aggregate principal amount, will be issued to the designated
transferee or transferees.

     As provided in the Indenture and subject to certain limitations herein and
therein set forth, this Note is exchangeable for the same aggregate principal
amount of Notes of different authorized denominations, as requested by the
Holder surrendering the same.

     The Notes are issuable only in fully registered form without interest
coupons in denominations of $1,000 and any integral multiple of $1,000 in excess
thereof.

     No service charge shall be made for any registration of transfer or
exchange, but the Company may, in certain cases, require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection
therewith.

     Prior to due presentment of this Note for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Note is registered as the owner and Holder hereof for
all purposes, whether or not this Note be overdue, and none of the Company, the
Trustee or any such agent shall be affected by notice to the contrary.

                                       6

<PAGE>

     This Note shall be governed by, and construed in accordance with, the laws
of the State of New York, including Section 5-1401 of the New York General
Obligations Law, but otherwise without regard to the conflict of law rules of
such State.

                                       7

<PAGE>

                                                                      Schedule 1

               SCHEDULE OF CHANGES IN OUTSTANDING PRINCIPAL AMOUNT

     This is a Global Note within the meaning of the Indenture. The following
notations in respect of changes in the outstanding principal amount of this
Global Note have been made:

       Initial Principal   Change in Outstanding     New      Notation
Date        Amount            Principal Amount     Balance     Made by
----   -----------------   ---------------------   -------    --------

                                       8