REG-Commerzbank Aktiengesellschaft Commerzbank and Global Payments announce Joint Venture

COMMERZBANK AGAnnouncement

11/01/2024 10:15

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   Commerzbank Aktiengesellschaft (CZB)
   Commerzbank and Global Payments announce Joint Venture

   11-Jan-2024 / 11:05 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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     • Partnership combines Commerzbank’s strong position serving small and
       medium size German businesses and Global Payments’ leading payment
       technology and software capabilities
     • Joint venture will offer digital payment services for merchants

   Frankfurt/ Main, Atlanta, 11 January 2024 – Commerzbank (FRA: CBK) and
   Global Payments (NYSE: GPN), a leading worldwide provider of payment
   technology and software solutions, today announced a joint venture to
   offer digital payment solutions to small and medium size business
   customers across Germany.

   The new entity, Commerz Globalpay GmbH, 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.

   Commerzbank will hold a 49 percent stake in the company, which will be
   based in Frankfurt/ Main, Germany and Global Payments will hold 51
   percent.

   The joint venture unites two strong brands. Commerzbank brings the
   knowledge and customer relationships within the German small and medium
   sized business market, while Global Payments brings commerce enablement
   solutions and distinctive payment offerings.

   Commerz Globalpay GmbH 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 seamless omnichannel experiences. Furthermore, business customers
   will have access to a variety of leading value-added services, including
   cloud-based point-of-sale software, customer loyalty programmes, an
   analytics and customer engagement platform, and more.

   "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," said Thomas Schaufler, member of the Board of Managing
   Directors responsible for Private and Small-Business Customers at
   Commerzbank.

   “Commerzbank is the ideal partner to expand our presence in Germany to
   deliver industry-leading services to merchants across the country,” said
   Cameron Bready, President and CEO of Global Payments. “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.”

   The completion of the transaction is subject to the approval of the
   responsible supervisory and antitrust authorities. 

    

   Commerzbank Media Contact
   Ines Hennig
   +49 69 935345685
   +49 151-11172644
    1 Ines.Hennig@Commerzbank.com

   Global Payments Media Contact
   Emily Edmonds
   +1 770 829-8755
    2 media.relations@globalpay.com

   Global Payments Investor Contact
   Winnie Smith
   +1 770 829-8478
   investor.relations@globalpay.com

   About Commerzbank
   Commerzbank is the leading bank for the German Mittelstand and a strong
   partner for around 26,000 corporate client groups and almost 11 million
   private and small-business customers in Germany. The Bank’s two Business
   Segments – Private and Small-Business Customers and Corporate Clients –
   offer a comprehensive portfolio of financial services. Commerzbank
   transacts approximately 30 per cent of Germany’s foreign trade and is
   present internationally in more than 40 countries in the corporate
   clients’ business. The Bank focusses on the German Mittelstand, large
   corporates, and institutional clients. As part of its international
   business, Commerzbank supports clients with a business relationship to
   Germany, Austria, or Switzerland and companies operating in selected
   future-oriented industries. In the Private and Small-Business Customers
   segment, the Bank is at the side of its customers with its brands
   Commerzbank and comdirect: online and mobile, in the advisory centre, and
   personally in its branches. Its Polish subsidiary mBank S.A. is an
   innovative digital bank that serves approximately 5.7 million private and
   corporate customers, predominantly in Poland, as well as in the Czech
   Republic and Slovakia.

   About Global Payments
   Global Payments Inc. (NYSE: GPN) is a leading payments technology company
   delivering innovative software and services to our customers globally. Our
   technologies, services and team member expertise allow us to provide a
   broad range of solutions that enable our customers to operate their
   businesses more efficiently across a variety of channels around the
   world. 

   Headquartered in Georgia with approximately 27,000 team members worldwide,
   Global Payments is a Fortune 500® company and a member of the S&P 500 with
   worldwide reach spanning over 170 countries throughout North America,
   Europe, Asia Pacific and Latin America. For more information,
   visit 3  www.globalpayments.com and follow Global Payments on
   X( 4 @globalpayinc), 5  LinkedIn and 6  Facebook. 

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          DE000CBK1001
   Category Code: MSCU
   TIDM:          CZB
   LEI Code:      851WYGNLUQLFZBSYGB56
   Sequence No.:  297006
   EQS News ID:   1813113


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:Ines.Hennig@commerzbank.com
   2. mailto:media.relations@globalpay.com
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