Deutsche Bank has partnered with financial services technology provider Fiserv to launch Vert, a payment acceptance and banking services provider for small and medium-sized enterprises.
The rise of companies such as Vert comes in response to market demand for integrated offerings, combining payment acceptance and processing alongside traditional banking solutions. Users will benefit from next-banking-day pay-outs, secure payments and data management and an online portal providing business reports, Deutsche Bank says.
The platform currently offers three solutions: Clover Flex, a portable payment device; Go by Vert, an app allowing Android phones and tablets to be used as contactless payment devices; and PAX A50, a small, portable card reader.
John Gibbons, head of EMEA at Fiserv, says: "With a unique combination of payment and banking capabilities, Vert is already helping small and mid-sized enterprises in Germany do business more easily, with less complexity. We look forward to helping thousands of merchants streamline their operations.”
Kilian Thalhammer, head of merchant solutions at Deutsche Bank, adds: “Vert brings together the expertise of two market leaders in cash management and payment acceptance technology. In co-operation with Vert, we can provide accounts, payment solutions and banking services to our SME customers.”
