A new payments startup is rolling out in Germany, sprung from the collaboration of multinational bank Deutsche Bank and FinTech services provider Fiserv.
Called Vert, the new startup provides full-service payment acceptance, processing and traditional banking solutions on mobile devices at checkout and caters to small and medium-sized enterprises (SMEs), according to a press release emailed to PYMNTS on Wednesday (Oct. 12).
The payments startup also gives merchants payouts on the next banking day and is the only provider in Germany offering combined payments acceptance, processing and banking in an integrated solution, according to the statement.
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“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 and Product at Vert.
Vert’s integrated digital dashboard enables merchants to accept multiple common payment types and also provides business operators with transaction data and business reports.
“Our mission is to help our members grow and get the best out of their business,” said Gert Vido, Managing Director Shared Services at Vert.
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Vert is initially offering three solutions — Clover Flex, The Go by Vert, and The PAX A50 — which are adaptable for multiple business sectors including mobile food trucks, physical restaurants, retailers and medical offices, per the release.
Clover Flex is a mobile-optimized portable payment device, whereas The Go by Vert is a smartphone Android app merchants can use to receive contactless payments in seconds. The PAX A50 card reader offers lightweight portability for card payments.
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Plans to expand Vert’s product suite are in the works with more solutions for online payment acceptance and new tools for currency conversion, according to the release.
“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.
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