Global Payments and Commerzbank Announce Joint Venture in Germany
11 Gennaio 2024 - 11:05AM
Business Wire
Partnership combines Global Payments’ leading
payment technology and software capabilities with Commerzbank’s
strong position serving small and medium size German businesses
Joint venture will offer digital payment
services for merchants
Global Payments Inc. (NYSE: GPN), a leading worldwide provider
of payment technology and software solutions, and Commerzbank (FRA:
CBK), the leading bank for small and medium size German enterprises
and a strong partner for corporate clients and private and
small-business customers in Germany, today announced a joint
venture to offer digital payment solutions to small and medium size
business customers across Germany.
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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.
Global Payments will hold a 51 percent stake in the company,
which will be based in Frankfurt am Main, Germany and Commerzbank
will hold 49 percent.
The joint venture unites two strong brands. Global Payments
brings commerce enablement solutions and distinctive payment
offerings, while Commerzbank brings the knowledge and customer
relationships within the German small and medium size merchant
market.
Commerz Globalpay GmbH will offer digital payment capabilities,
including Global Payments’ smartphone-based payment applications
that enable merchants to accept mobile payments without a separate
card reader, modern card terminals and e-commerce/mobile payment
solutions, all integrated to deliver seamless omnichannel
experiences. Further, business customers will have access to a
variety of leading value-added services, including cloud-based
point-of-sale software, customer loyalty programs, an analytics and
customer engagement platform, and more.
“Commerzbank is the ideal partner to expand our presence in
Germany to deliver industry-leading services to merchants across
the country,” said Cameron Bready, President and CEO of Global
Payments. “This joint venture significantly enhances distribution
for our distinctive payment offerings and commerce enablement
solutions in an attractive growth market where there are
substantial opportunities to digitize the payment experience.”
"With this joint venture with Global Payments, we are investing
in modern forms of payments at the highest level. Through simple
solutions, new products, and technologies, provided by Global
Payments, we are creating an optimal experience for the Commerzbank
customers. This makes the project an important part of our strategy
update to create added value and excellence for our customers,"
said Thomas Schaufler, member of the Board of Managing Directors
for Private and Small-Business Customers at Commerzbank.
The completion of the transaction is subject to the approval of
the responsible supervisory and antitrust authorities.
About Global Payments
Global Payments Inc. (NYSE: GPN) is a leading payments
technology company delivering innovative software and services to
our customers globally. Our technologies, services and team member
expertise allow us to provide a broad range of solutions that
enable our customers to operate their businesses more efficiently
across a variety of channels around the world.
Headquartered in Georgia with approximately 27,000 team members
worldwide, Global Payments is a Fortune 500® company and a member
of the S&P 500 with worldwide reach spanning over 170 countries
throughout North America, Europe, Asia Pacific and Latin America.
For more information, visit www.globalpayments.com and follow
Global Payments on Twitter/X (@globalpayinc), LinkedIn and
Facebook.
About Commerzbank
Commerzbank is the leading bank for the German Mittelstand and a
strong partner for around 26,000 corporate client groups and just
under 11 million private and small-business customers in Germany.
The Bank’s two Business Segments – Private and Small-Business
Customers and Corporate Clients – offer a comprehensive portfolio
of financial services. Commerzbank transacts approximately 30
percent of Germany’s foreign trade and is present internationally
in almost 40 countries in the corporate clients’ business. The Bank
focuses on the German Mittelstand, large corporates, and
institutional clients. As part of its international business,
Commerzbank supports clients with German connectivity and companies
operating in selected future-oriented industries. In the Private
and Small-Business Customers segment, the Bank is at the side of
its customers with its brands Commerzbank and comdirect: online and
mobile, in the advisory centre, and personally in its branches. Its
Polish subsidiary mBank S.A. is an innovative digital bank that
serves approximately 5.7 million private and corporate customers,
predominantly in Poland, as well as in the Czech Republic and
Slovakia.
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version on businesswire.com: https://www.businesswire.com/news/home/20240111785822/en/
Global Payments Media Contact: Emily Edmonds +1
770.829.8755 media.relations@globalpay.com
Global Payments Investor Contact: Winnie Smith +1
770.829.8478 investor.relations@globalpay.com
Commerzbank Media Contact: Ines Hennig +49 151 111 72 644
+49 69 935 345 685 Ines.Hennig@commerzbank.com
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