Global Payments in Commerzbank JV to Support German SMEs
Payments technology and software solutions provider Global Payments has partnered with German financial institution Commerzbank, a joint venture designed to offer local merchants and SMEs new digital payments services.
The joint venture, named Commerz Globalpay, will leverage the digital payments capabilities of Global Payments and the vast existing SME customer base of Commerzbank in its local German market.
Commerz Globalpay: A one-stop shop for merchants
Indeed, Commerz Globalpay will provide German SMEs – notably existing Commerzbank customers – with a plethora of new payments capabilities, including Global Payments’ smartphone applications.
Granting German merchants access to the payments app will enable them to accept mobile payments without needing a separate card reader to complete a transaction.
Merchants will also have access to modern card terminals and mobile payments solutions, as well as value-added services to streamline their capabilities with cloud-based point-of-sale (POS) software, customer loyalty programmes and an analytics & customer engagement platform.
Cameron Bready, President and CEO of Global Payments, says: “Commerzbank is the ideal partner to expand our presence in Germany to deliver industry-leading services to merchants across the country.
“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 digitise the payment experience.”
Partnering to deliver omnichannel experiences
Of course, while digital offerings are driving payments into an era of greater seamlessness and accessibility for merchants, both Global Payments and Commerzbank reaffirm their commitment to championing omnichannel experiences, marrying the best of digital and in-person transactions.
This is why providing POS systems will continue to be a core offering of Commerz Globalpay alongside new digital capabilities – enabling merchants to offer a wider range of payments choices for the goods and services they provide.
Thomas Schaufler, member of the Board of Managing Directors for Private and Small-Business Customers at Commerzbank, adds: “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.”
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