Global Payments, Commerzbank announce joint venture in Germany

Global Payments and Commerzbank announced a joint venture to offer digital payment solutions to small and medium size business customers across Germany. The new entity, Commerz Globalpay, 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% stake in the company, which will be based in Frankfurt am Main, Germany and Commerzbank will hold 49%. 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 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 omnichannel experiences.