We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Deutsche Bank (DB), Fiserv Partner for Payment Acceptance Solution
Read MoreHide Full Article
Deutsche Bank (DB - Free Report) has collaborated with Fiserv to offer payment-processing services to its customers in Germany. Pending regulatory approval, the joint venture between the companies will create a comprehensive offering of payment acceptance and banking solutions to small and medium-sized enterprises (SMEs).
This will enable Deutsche Bank’s business clients to accept payments from customers (both in-store and online) by using Fiserv’s platform, Clover. Markedly, Clover reads credit and debit cards, and mobile wallets, as well as records orders and inventory.
With this, the company is back-tracking its strategy and reentering the payments market after it sold the business in 2012 to the United States-based EVO Payments International LLC. While digital payments were seen as a risky business for banks, now the payments-processing industry has grown in manifolds with further acceleration due to the pandemic. In fact, as businesses have migrated online, payment-card use has been rampant, even in a country like Germany, where cash has been traditionally preferred.
Hence, the joint venture will facilitate clients to make transactions across a full range of digital and in-person channels, and make use of the new payment acceptance solutions offering. Also, the venture plans to combine multiple payment solutions. With this, merchants can bypass entering multiple contracts with a variety of payment providers.
Management at Deutsche Bank noted, “Today, no other provider of such services in Germany can offer this in depth combination of acceptance solutions with banking services being a true “one-stop-shop” for our clients. This will translate into a better client experience, lower costs and reduced complexity for clients,”
The joint venture expects to serve several thousand clients from the start. Deutsche Bank together with their Postbank and Fyrst brands has around 800,000 SMEs, who will benefit from the new solutions, going forward. The joint venture will also offer services to non-Deutsche Bank clients and is expected to employ a low triple-digit workforce.
John Gibbons, Head of EMEA at Fiserv, commented "Together with Deutsche Bank, we will be able to help small and mid-sized enterprises in Germany do business in new ways, bringing them a compelling combination of solutions and services to streamline their payment acceptance and banking capabilities".
The stock has gained 20.6% over the past six months, outperforming the industry’s rally of 18.8%.
Image Source: Zacks Investment Research
Currently, Deutsche Bank carries a Zacks Rank #3 (Hold).
Bank Of Montreal (BMO - Free Report) has witnessed marginal upward earnings estimate revisions for 2021 over the past seven days to $9.71. Also, it has a Zacks Rank #2 at present.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
Deutsche Bank (DB), Fiserv Partner for Payment Acceptance Solution
Deutsche Bank (DB - Free Report) has collaborated with Fiserv to offer payment-processing services to its customers in Germany. Pending regulatory approval, the joint venture between the companies will create a comprehensive offering of payment acceptance and banking solutions to small and medium-sized enterprises (SMEs).
This will enable Deutsche Bank’s business clients to accept payments from customers (both in-store and online) by using Fiserv’s platform, Clover. Markedly, Clover reads credit and debit cards, and mobile wallets, as well as records orders and inventory.
With this, the company is back-tracking its strategy and reentering the payments market after it sold the business in 2012 to the United States-based EVO Payments International LLC. While digital payments were seen as a risky business for banks, now the payments-processing industry has grown in manifolds with further acceleration due to the pandemic. In fact, as businesses have migrated online, payment-card use has been rampant, even in a country like Germany, where cash has been traditionally preferred.
Hence, the joint venture will facilitate clients to make transactions across a full range of digital and in-person channels, and make use of the new payment acceptance solutions offering. Also, the venture plans to combine multiple payment solutions. With this, merchants can bypass entering multiple contracts with a variety of payment providers.
Management at Deutsche Bank noted, “Today, no other provider of such services in Germany can offer this in depth combination of acceptance solutions with banking services being a true “one-stop-shop” for our clients. This will translate into a better client experience, lower costs and reduced complexity for clients,”
The joint venture expects to serve several thousand clients from the start. Deutsche Bank together with their Postbank and Fyrst brands has around 800,000 SMEs, who will benefit from the new solutions, going forward. The joint venture will also offer services to non-Deutsche Bank clients and is expected to employ a low triple-digit workforce.
John Gibbons, Head of EMEA at Fiserv, commented "Together with Deutsche Bank, we will be able to help small and mid-sized enterprises in Germany do business in new ways, bringing them a compelling combination of solutions and services to streamline their payment acceptance and banking capabilities".
The stock has gained 20.6% over the past six months, outperforming the industry’s rally of 18.8%.
Currently, Deutsche Bank carries a Zacks Rank #3 (Hold).
Stocks to Consider
Royal Bank Of Canada (RY - Free Report) has witnessed upward earnings estimate revisions for 2021 over the past seven days to $8.95. Also, it carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Bank Of Montreal (BMO - Free Report) has witnessed marginal upward earnings estimate revisions for 2021 over the past seven days to $9.71. Also, it has a Zacks Rank #2 at present.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>