Menu

Deutsche Bank expands product range with Better Payment acquisition



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:

Kilian Thalhammer, Deutsche Bank
Kilian Thalhammer
Source: LinkedIn

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.

Acquisition, merger

Better Payment’s “online payment gateway” is offered as a “white label” solution to other companies including banks, financial service providers or SaaS. These companies then use it as an addition to their own product portfolio and offer the technology enhanced with their own services

Deutsche Bank expects high growth rates over the coming years in the business with “white label” solutions in particular. Around 1,500 retailers are using the its payment platform already.

Following the acquisition, Better Payment will keep its headquarters in Berlin and its management team will stay on board and work for Deutsche Bank.

Deutsche Bank and global payments and financial services technology provider Fiserv, recently announced a joint venture to create a payment acceptance and banking solutions provider.

Related News

Deutsche Bank expands product range with Better Payment acquisition

0
Send this to a friend