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Deutsche Bank acquires Better Payment

Deutsche Bank has acquired Berlin-based payment service provider Better Payment to expand its market share in the fast growing market for online payment processing and acceptance.

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Deutsche Bank acquires Better Payment

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This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Better Payment operates a payments gateway that enables merchants to send and receive multiple forms of online payments and is currently installed at 1500 retailers

The gateway is also available as a white label product for banks and other companies to add to their portfolio of services, a business element which Deutsche Bank is expecting to show double digit growth rates over the coming years.

“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,” says Kilian Thalhammer, head of merchant solutions at Deutsche Bank. "We will develop additional synergies by integrating the respective products from Deutsche Bank and Better Payments."

Financial terms of the transaction were not disclosed.

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