- Vert offers full-service payment acceptance solutions for merchants via mobile devices, apps and at the checkout
- Vert continues to invest to meet the emerging needs of today’s merchants
Deutsche Bank and Fiserv, a global leader in payments and financial services technology, have launched Vert, a comprehensive payment acceptance and banking services provider to small and medium-sized enterprises (SMEs). Vert is the only German provider to combine payment acceptance and processing and traditional banking solutions, meeting market demand for an integrated offering and streamlining access to innovative products for merchants of all sizes. Vert also provides next-banking-day pay-outs, providing merchants with faster access to their funds.
Merchants are seeking user-friendly, integrated solutions that enable them to accept payments and move and manage money. Vert clients 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.
“By combining the strength of Deutsche Bank, Germany’s largest bank, with Fiserv, the world’s largest merchant acquirer, we can provide our Vert members with a secure, fast and technologically advanced payment acceptance solution,” said Thorsten Woelfel, Managing Director Sales & Product at Vert.
“Our mission is to help our members grow and get the best out of their business,” added Gert Vido, Managing Director Shared Services at Vert.
Initially, Vert offers three solutions, suitable for a wide range of businesses, from mobile food trucks and brick-and-mortar restaurants to retailers and medical offices.
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- Clover Flex is a mobile-optimised, full-featured and portable payment device that makes it possible for merchants to accept a broad range of payments and better manage their business. Clover Flex offers a tip function and apps that facilitate business management.
- The Go by Vert app allows a merchant to use their own Android smartphone or tablet as a contactless payment terminal. Merchants can receive contactless payments in seconds – anywhere, anytime. Vert also offers secure PIN entry, the sole such solution in the German market, meaning merchants can accept payments above contactless-only limits.
- The PAX A50 is a portable and robust card reader that enables merchants to accept card payments at the counter and at the table without having to carry around a heavy device.
Vert plans to continuously expand its product range, with solutions for online payment acceptance and for currency conversion coming soon.
“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,” said Kilian Thalhammer, Head of Merchant Solutions at Deutsche Bank.
“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,” said John Gibbons, Head of EMEA at Fiserv. “We look forward to helping thousands of merchants streamline their operations and continue to delight their customers.”
Features of Vert include:
- Payment on the next banking day, meaning faster access to money
- Future-facing Android operating system solutions
- Acceptance of the most common payment methods, meaning merchants can sell more
- A single merchant portal with a complete overview of all transactions, invoices and reports
- Exceptional customer service and telephone advice for business guidance
- Secure payments and data via partnership with Deutsche Bank
- No hidden fees, so no surprises
Deutsche Bank, together with its Postbank and Fyrst brands, has around 800,000 SMEs who will be able to access the new solutions, with some merchants already live. Vert expects rapid growth within its existing customer base. Vert’s services are also available to non-Deutsche Bank customers and the bank expects to attract new business clients in other areas as payment behavior is likely to
continue to develop towards cashless payments in the future. According to a survey by Deutsche Bundesbank in 2017, 74% of respondents preferred to pay with cash. Since then, the proportion has fallen by 14 percentage points to 60% in 2021.
Further information about Vert can be found on the website: www.vert.de
Image files for the logo and products can be found in the attachment to the email.
For further information please contact:
Deutsche Bank AG Heinrich Froemsdorf
T. +49 69 91047689
Fiserv Markus Juhrs
T. +49 911 945 8134
Vert – Deutsche Bank Partner Vaniti A. Paul
T. +49 69 7941 401
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e- commerce; merchant acquiring and processing; and the Clover® cloud- based point-of-sale and business management platform. Fiserv is a member of the S&P
500® Index, the FORTUNE® 500, and has been recognized as one of FORTUNE World’s Most Admired Companies® for 11 of the past 14 years and named among the World’s Most Innovative Companies by Fast Company for two consecutive years. Visit fiserv.com and follow on social media for more information and the latest company news.
Vert (“FSDB Merchant Services GmbH”) provides digital payment solutions and innovative financial and banking services for merchants and service providers in the German market. Vert aims to remove complexity, increase merchant productivity and drive innovation – so that Vert’s customers (“Members”) can focus on what’s important: Their actual business.
As a joint venture, Vert combines the expertise and technology of its parent companies Fiserv, a global leader in payment and financial services technology, and Deutsche Bank, the leading bank in Germany. Vert’s regulated payment acquiring solutions will be provided through Fiserv affiliate First Data GmbH.