Commerzbank and US company Global Payments have announced the formation of a joint venture for digital payment products. The Frankfurt-based bank and the Atlanta-based provider of financial technology and software solutions will collaborate on offering digital payment solutions to business customers. The new company, called Commerz Globalpay GmbH, is expected to launch in the first half of 2024. The joint venture aims to provide digital payment solutions, including Global Payments’ smartphone-based payment application that allows merchants to accept mobile payments without a separate card reader. Commerzbank will hold a 49% stake in the new company, while Global Payments will hold 51%. The transaction is subject to approval from various regulatory and antitrust authorities.

Rav Bains

Rav Bains is the founder and senior payments consultant at We Tranxact. He helps UK and European businesses compare merchant accounts, card machines, ecommerce gateways, virtual terminals and specialist payment routes. His work covers everyday retail and online payment needs as well as more complex sectors, with a focus on provider fit, transparent commercial terms, underwriting readiness and practical support.

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