BankingBusinessFinTech

Commerzbank forms joint venture with Global Payments for SME payment solutions

  • Commerzbank and Global Payments form a joint venture, Commerz Globalpay, for digital payment solutions in Germany.
  • Ownership split: 51% Global Payments, 49% Commerzbank; launch expected in H1 2024 in Frankfurt.
  • Global Payments to provide commerce enablement solutions; Commerzbank contributes SME market knowledge.
  • The collaboration aims to offer digital payment capabilities, including mobile payments, card terminals, and e-commerce solutions.
  • Commerz Globalpay targets businesses, providing cloud-based POS software, loyalty programs, and customer engagement tools.
  • Global Payments sees the venture as an expansion in Germany, enhancing the distribution of its solutions.
  • Commerzbank emphasizes the project’s importance in connecting customers with innovative solutions, subject to regulatory approval.
Previous article
Aeon Bank given the go-ahead to commence digital banking operations in Malaysia
Next article
Brazil’s Conta Simples plots product expansion following $41.5m Series B
Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

You May Also Like

FinTech

Talos and Nasdaq Strengthen On-Chain and Off-Chain Collateral Workflow

New partnership enhances digital asset handling and collateral management.Highlights: Talos and Nasdaq collaborate to streamline collateral workflows.Partnership aims...
FinTech

FCA Restricts Use of Sensitive Data in AI Trial with Palantir

Regulatory concerns arise over data handling protocols in AI trials.Highlights: FCA criticized for using sensitive data in AI...
FinTech

Bank of Ireland Strengthens AI Readiness for Staff Training

New initiatives prepare employees for an AI-driven banking landscape.Highlights: Bank of Ireland launches AI training initiatives for staff.Employees...
FinTech

MAS Develops AI Risk Management Toolkit to Strengthen Financial Sector

New toolkit aims to enhance risk management within Singapore's finance industry.Highlights: MAS launches an AI Risk Management Toolkit...