Frankfurt-based bank Commerzbank and US fintech company Global Payments this month announced a joint venture (JV) enabling them to offer digital payment facilities to small and medium-sized enterprise (SME) customers in Germany. The JV is aimed at exploiting projected growth in banking digitalisation in the country.
Known as Commerz Globalpay, the JV is expected to launch before the end of June this year. It aims to help SME merchants “run and grow their businesses more efficiently” by offering new digital payment acceptance tools, including the ability for merchants to accept mobile payments without requiring a separate card reader to complete a transaction.
