Commerzbank Teams Up With Global Payments To create digital payment solutions
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Atlanta-based Global Payments Inc. (NYSE: GPN), the top global provider of payment technology and software solutions, has collaborated with Commerzbank (FRA: CBK), a notable German-based bank.
Commerzbank specializes in serving small and medium-sized enterprises in Germany with a remarkable presence amongst individual and corporate clients. The collaboration aims to create digital payment solutions for medium-sized and small companies throughout Germany.
Commerz Globalpay GmbH, the long-awaited project, is set to launch in the first half of 2024. It will provide a wide range of improved software applications, including smartphone-based payment applications from Global Payment.
This application will permit merchants to accept mobile payments without needing e-commerce/mobile payment solutions, modern card terminals, and a separate card reader. These offers will be incorporated to provide combined omnichannel experiences.
The Collaboration Brings Value-Added Services
In addition, Business clients will enjoy various top-notch value-added services. These services include an analytics and customer engagement platform, customer loyalty programs, cloud-based point-of-sale software, and many others.
Global Payments will own a 51 percent stake in the firm, setting its headquarters in Frankfurt, Germany, while Commerzbank will own the remaining 49 percent.
Cameron Bready, the Chief Executive Officer of Global Payments, mentioned that teaming up with Commerzbank is the right move to grow their presence in Germany and provide top-notch services to merchants nationwide.
He highlighted that this joint venture will dramatically improve the reach of their unique payment services and solutions in a promising market with ample opportunities to digitize the payment service.
Commerzbank Will Incorporate New Products And New Technologies
Thomas Schaufler, a member of the Board of Managing Directors for Private and Small-Business Customers at Commerzbank, explained that their collaboration with Global Payments is a significant investment in modern payment methods.
By incorporating technologies, new products, and straightforward solutions from Global Payments, they aim to enhance the overall experience for Commerzbank customers.
This initiative is a crucial part of their strategy update, focusing on creating added value and excellence for their users. The deal’s completion depends on the approval of the responsible antitrust and supervisory authorities.
Global Payments Inc., listed on the New York Stock Exchange as GPN, is a top-notch company in the field of payment technology.
They create and deliver advanced software and services to customers worldwide. Their services, technologies, and the expertise of their team members help them offer a broader range of solutions. These features allow their users to operate their businesses more smoothly across different platforms worldwide.
