Deutsche Bank buys online platform for better payment

Deutsche Bank acquires Berlin-based payment service provider Better Payment, the bank announcement Monday (September 20).

According to the statement, Deutsche Bank will integrate Better Payment’s technical solutions into its existing product line over the next 12 months, leveraging the acquisition to expand its market share in processing and accepting payments. Terms of the contract are not disclosed.

Read more: Deutsche Bank steps up restructuring after Brexit

Speaking on the deal, Kilian Thalhammer, head of merchant solutions at Deutsche Bank, said the know-how of Better Payment employees, their relationships with existing dealers and their technical solutions would enable the bank to accelerate its growth in the German market and to offer more services. through existing Better Payment channels.

“We will develop additional synergies by integrating the respective products of Deutsche Bank and Better Payments,” Thalhammer said.

The more than 1,500 individual customers who already use the company’s payment platform can make and receive all types of payments online.

The company’s single payment platform is a “white label” solution for other businesses such as banks, financial service providers or SaaS (“software as a service”) providers that offer their customers improved technology with their services.

And Deutsche Bank is very optimistic about activity with “white label” solutions, targeting very high growth rates – in the double-digit percentage range – in the coming years for its growing number of affiliate dealers.

Related: Fiserv, Deutsche Bank Team on accepting payments for German SMEs

In June, PYMNTS announced that global FinTech and payments company Fiserv and Deutsche Bank were teaming up with a joint venture to provide payment acceptance and banking offerings to small and medium-sized enterprises (SMEs) in Germany.

The effort was to help SME customers adapt to the changing post-pandemic market by providing them with tools such as Fiserv’s Clover point-of-sale platform to sell their wares and services through a range full of digital and in-person channels.

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On: Eighty percent of consumers want to use non-traditional payment options like self-service, but only 35 percent were able to use them for their most recent purchases. Today’s Self-Service Shopping Journey, a PYMNTS and Toshiba Collaboration, analyzes more than 2,500 responses to find out how merchants can address availability and perception issues to meet demand for self-service kiosks.

About Matthew R. Dailey

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