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.
âWe will develop additional synergies by integrating the respective products of Deutsche Bank and Better Payments,â 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 âwhite labelâ solution for other businesses such as banks, financial service providers or SaaS (âsoftware as a serviceâ) providers that offer their customers improved technology with their services.
And Deutsche Bank is very optimistic about activity with âwhite labelâ 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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