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.
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.