Deutsche Bank, Fiserv Collaborate For Germany's Payment Acceptance And Banking Solutions

Germany’s Deutsche Bank AG DB and Fiserv Inc FISV inked a joint venture to form a complete payment acceptance and banking solutions provider in Frankfurt am Main.
The collaboration will equip SME clients to sell their products and services across a full range of digital and in-person channels using modern payment acceptance solutions.
They aim to bring multiple payment solutions together to save merchants from forging numerous contracts with various payment providers.
The partnership will also offer services to non-Deutsche Bank clients and is estimated to employ a low triple-digit workforce.
Price action: FISV shares traded higher by 1.54% at $109.22 on the last check Monday.