Benzinga | Jun 21, 2021 10:10AM EDT

Deutsche Bank, Fiserv Collaborate For Germany's Payment Acceptance And Banking Solutions

* Germany's Deutsche Bank AG (NYSE:DB) and Fiserv Inc (NASDAQ:FISV) inked a joint venture to form a complete payment acceptance and banking solutions provider in Frankfurt am Main.

* The collaboration will equip SME clients to sell their products and services across a full range of digital and in-person channels using modern payment acceptance solutions.

* They aim to bring multiple payment solutions together to save merchants from forging numerous contracts with various payment providers.

* The partnership will also offer services to non-Deutsche Bank clients and is estimated to employ a low triple-digit workforce.

* Price action: FISV shares traded higher by 1.54% at $109.22 on the last check Monday.