Deutsche Bank partners Fiserv to launch SME payments and banking solution Vert

Germany’s Deutsche Bank and fintech Fiserv have partnered to develop and deploy a “comprehensive” payment acceptance and banking services solution for small and medium-sized enterprises (SMEs).

Deutsche Bank and Fiserv partner to launch Vert

Vert is the only German provider that combines the two payment and banking services, “meeting market demand” for an integrated offering, Deutsche Bank says.

The new platform also offers next-day banking-day pay outs, providing merchants with faster access to their funds.

Vert’s managing director of sales and product Thorsten Woelfel says that by combining strengths of Germany’s largest bank and the world’s largest merchant acquirer, “we can provide our Vert members with a secure, fast and technologically advanced payment acceptance solution”.

Vert users will benefit from an offering that includes faster payments, modern technology, acceptance of common payment types and an online dashboard providing transaction data and other business reports.

The initial rollout will see three offerings for SMEs: a portable payment device, an app that allows merchants to use their Android smartphone as a contactless payment terminal, and a “portable and robust” card reader that enables merchants to accept payments at the table.

Vert plans to continuously expand its product range, with solutions for online payment acceptance and for currency conversion coming soon.