26 May 2017
Visit www.capgemini.com/worldreports

Deutsche Bank to sell European merchant acquiring business

30 November 2012  |  13655 views  |  0 Deutsche bank head office Flag banner 2

Deutsche Bank is to sell its European merchant acquiring business to US processor EVO Payments International.

Under the proposed transaction, EVO will acquire 100% of Cologne-based Deutsche Card Services,which currently operates in 39 European markets. It provides merchant acquiring services to multi-national clients of Deutsche Bank including online, point-of-sale and ATM, as well as other related services.

As part of the deal, EVO Payments is to work with the German bank's global transaction banking division on joint marketing efforts under a long-term relationship.

Ray Sidhom, chairman of EVO Payments International, says: "Through supporting the Deutsche Bank relationship, we are confident in our ability to rapidly expand our market share."

Deutsche Bank already has an existing working relationship with EVO Payments in the US.

The bank's head of global transaction banking Werner Steimuller insists that the group is still committed to providing card acquiring services to its merchant client base.

"Our main goals with this transaction were to find a partner that we could trust to continue to deliver high quality products and services to our clients as well as realizing the significant long-term potential of the Deutsche Card Services business," he says. "We feel that we have achieved both with EVO Payments.

The transaction is subject to regulatory approvals. Financial terms have not been disclosed.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Deutsche Bank moves first customers to new core platform

Deutsche Bank moves first customers to new core platform

11 July 2012  |  10673 views  |  0 comments
Deutsche and SEB team on Electrolux supply chain finance

Deutsche and SEB team on Electrolux supply chain finance

20 September 2011  |  6441 views  |  0 comments
Global Payments sets up merchant acquiring JV with la Caixa

Global Payments sets up merchant acquiring JV with la Caixa

18 November 2010  |  9653 views  |  0 comments
Tsys enters merchant acquiring business with FNMS stake

Tsys enters merchant acquiring business with FNMS stake

01 March 2010  |  7996 views  |  0 comments
Deutsche Bank takes stake in Eurogiro

Deutsche Bank takes stake in Eurogiro

20 January 2010  |  7817 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit vasco.com/news/PSD2-compliant-solutionsvisit dh.comVisit www.capgemini.com/worldreports

Top transaction banking topics

Most viewed Most shared

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job