Commerzbank (FRA:CBK) and Global Payments (NYSE:GPN), a provider of payment technology and software solutions, today announced a joint venture to offer digital payment solutions to small and medium size business customers across Germany.
The new entity, Commerz Globalpay GmbH, is expected to launch in the first half of 2024 and will provide a comprehensive suite of innovative omnichannel payment and software solutions at scale, providing a one-stop-shop for merchants to run and grow their businesses more efficiently.
Commerzbank will hold a 49 percent stake in the company, which will be based in Frankfurt/ Main, Germany and Global Payments will hold 51 percent.
The joint venture unites two strong brands. Commerzbank brings the knowledge and customer relationships within the German small and medium sized business market, while Global…
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