Global Payments Inc. and Commerzbank Unveil Strategic Joint Venture, Launching Commerz Globalpay GmbH to Revolutionize Digital Payments in Germany.

n a landmark collaboration, Global Payments Inc. and Commerzbank have announced a transformative joint venture to introduce cutting-edge digital payment solutions for small and medium-sized businesses across Germany.

Global Payments, a global leader in payment technology, and Commerzbank, renowned for its support to German enterprises, have formed Commerz Globalpay GmbH. Expected to debut in the first half of 2024, this entity will offer a comprehensive suite of omnichannel payment and software solutions, creating a seamless one-stop shop for merchants.

Global Payments will hold a majority stake of 51 percent in the Frankfurt-based company, with Commerzbank retaining 49 percent. The collaboration leverages Global Payments’ commerce enablement solutions and unique payment offerings, complemented by Commerzbank’s expertise and customer relationships in the German small and medium-sized merchant market.

Commerz Globalpay GmbH will provide digital payment capabilities, including smartphone-based payment applications, modern card terminals, and integrated e-commerce/mobile payment solutions. Business customers will access various value-added services such as cloud-based point-of-sale software, customer loyalty programs, analytics, and a customer engagement platform.

Cameron Bready, President and CEO of Global Payments, expressed enthusiasm, stating, “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 digitize the payment experience.”

Thomas Schaufler, member of the Board of Managing Directors for Private and Small-Business Customers at Commerzbank, highlighted the strategic significance, stating, “With this joint venture with Global Payments, we are investing in modern forms of payments at the highest level. Through simple solutions, new products, and technologies, provided by Global Payments, we are creating an optimal experience for Commerzbank customers. This makes the project an important part of our strategy update to create added value and excellence for our customers.”

The transaction’s completion is pending approval from supervisory and antitrust authorities, marking a pivotal moment in the evolution of digital payment solutions within the German business landscape.