Payments Industry News

Commerzbank and Global Payments: Digital Payment Solutions

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.

See also  Chariot Collaboration Enables DonorDrive to Support Donor Advised Fund Payments