Deutsche takes over the Berlin payment service provider Better Payment Germany.
The fintech business model includes the technical processing of online payments and the operation of a payment platform for this purpose.
Gregor Brunner
Editor in business.
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Better Payment enables merchants to accept common payment methods and receive payment shipments.
Deutsche Bank will integrate the technical solutions of the new acquisition into its existing product range in the next twelve months, it is said.
The purpose of the takeover is the faster expansion of market shares in payment processing and acceptance.
In addition, there are plans to offer further banking and payment services via the Better Payment channels.
“Better Payment gives us broader market access in payment processing.
Thanks to the know-how of the employees, the existing dealer relationships and the technical solutions from Better Payment, we can accelerate our growth in the important German market, ”said Kilian Thalhammer, Head of Dealer Solutions at Deutsche Bank.
The integration of Better Payment joins a list of other Deutsche Bank efforts in the area of payment services.
In June she announced the establishment of a joint venture with the American payment service provider Fiserv to serve small and medium-sized companies.
The bank is also expanding its personnel capacities in this area.
Among other things, Jochen Siegert, who previously worked in various positions at Mastercard, Paypal and Finleap, joined the institute in August 2020.