Deutsche Bank and Fiserv launch Germany’s new payments company, Vert

By Edlyn Cardoza

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 brings together the expertise of two market leaders in cash management and payment acceptance technology,” said Kilian Thalhammer, Head of Merchant Solutions at Deutsche Bank. “In co-operation with Vert, we can provide accounts, payment solutions and banking services to our SME customers.”

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 payouts, providing merchants with faster access to their funds.

Merchants seek user-friendly, integrated solutions 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.

Thorsten Woelfel, Managing Director of Sales & Product at Vert, said, “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.”

Initially, Vert offers three solutions suitable for several businesses, from mobile food trucks and brick-and-mortar restaurants to retailers and medical offices.

• Clover Flex is a mobile-optimised, full-featured and portable payment device that allows 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 merchants to use their 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 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 carrying around a heavy device.

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