IDC Perspective: Deutsche Bank's Return to Merchant Processing Signals Changes Across Payments
This IDC Perspective highlights the announcement on June 21, 2021, by Deutsche Bank and Fiserv, about a new joint venture (JV) that will facilitate the bank's return to merchant payment processing. The deal represents a reversal of strategy for Deutsche Bank, which had sold off its merchant acquiring business in 2012. But the story is not just about a bank's change of heart but also about the changing payment market and the relationships between banks and payment processors. According to Aaron Press, research director, Worldwide Payment Strategies at IDC, "The announcement of a new merchant processing JV between Deutsche Bank and Fiserv highlights more than just a change in one bank's strategy. As banks across the board look at the changes in the payment industry, they will have to make careful decisions about how to maximize the opportunity."
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