logo
  

Fiserv, Deutsche Bank To Form JV For Payment Acceptance In Germany

Fiserv, Inc. (FISV), a provider of payments and financial services technology, announced Monday an agreement with German banking major Deutsche Bank (DB) to form a joint venture to create a comprehensive provider of payment acceptance and banking solutions.

The joint venture will serve small and medium-sized enterprises or SMEs in the German market and will be based in Frankfurt am Main, pending regulatory approval.

The companies said the JV will help SME clients adapt to the changing post-Covid marketplace by equipping them to sell their products and services across a full range of digital and in-person channels. They will help use modern payment acceptance solutions, including the Clover point-of-sale platform from Fiserv.

The companies plan to bring multiple payment solutions together, complementing Deutsche Bank's banking offering.

The joint venture expects to serve several thousand clients from the start. Deutsche Bank, together with their Postbank and Fyrst brands, has around 800,000 SMEs who will benefit from the new solutions going forward.

The JV will also offer services to non-Deutsche Bank-clients and is expected to employ a low triple-digit workforce.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ford Motor is increasing the entry-level price of its electric F-150 Lightning pickup citing rising costs and supply chain issues amid increasing demand. This is the second price hike after a recent increase in August. The starting price of the 2023 model year pickup will be raised by $5,000 by October 24, reports said citing an email statement. Constellation Brands, Inc. (STZ) said it delivered another quarter of strong business performance. Beer Business achieved double-digit net sales growth for the quarter, while Wine and Spirits net sales rose 1%. The solid top-line performance of its Beer and Wine and Spirits Businesses in the first half... Tyson Foods announced its "OneTyson" plan, under which it will bring together corporate team members from three corporate locations in Illinois and South Dakota to its world headquarters in Arkansas. Team members from the corporate locations of Chicago, Downers Grove in Illinois, and Dakota Dunes area in South Dakota are expected to begin the phased relocation in early 2023 to Springdale.
Follow RTT