Deutsche Bank has revealed it is acquiring payments service company Payment Germany GmbH. The acquisition will expand Deutsche Bank’s market share in payment processing and acceptance. Over the next year, the company will integrate Better Payment’s technical solutions into its existing product range.
Kilian Thalhammer, Head of Merchant Solutions at Deutsche Bank, said:
Better Payment gives us broader market access in payment processing. Thanks to the know-how of their employees, their existing dealer relationships and technical solutions, we can accelerate our growth in the German market, which is key to us. We will develop additional synergies by integrating the respective products from Deutsche Bank and Better Payments. The bank plans to offer further banking and payment services via the existing Better Payment channels.
Berlin-based Better Payment provides technical processing of online payments. The payment platform the company uses (online payment gateway) carries out and receives online payments. The platform allows retailers, well as their clients, to to accept all common means of payment and to be able to receive all types of payment consignments.