Press release September 20, 2021
Deutsche Bank acquires Berlin-based payment service provider Better Payment
Agreement expands product range and increases payments market share in Germany
Deutsche Bank acquires Berlin-based payment service provider Better Payment Germany GmbH. With this acquisition, Deutsche Bank will increase its market share in the processing and acceptance of payments. Over the next 12 months, Deutsche Bank will integrate Better Payment’s technical solutions into its existing product line.
âBetter Payment gives us greater access to the payment processing market. Thanks to the know-how of their employees, their relationships with existing dealers and their technical solutions, we can accelerate our growth in the German market, which is essential for us, âsaid Kilian Thalhammer, Head of Merchant Solutions at Deutsche Bank. âWe will develop additional synergies by integrating the respective products of Deutsche Bank and Better Payments,â Thalhammer said. The bank plans to offer other banking and payment services through existing Better Payment channels.
Better Payment operates a technical online payment processing service. For this purpose, the company uses a payment platform (âonline payment gatewayâ) to make and receive online payments. The payment platform allows merchants – or their customers – to accept all common payment methods and to be able to receive all types of payment shipments. Better Payment offers its own âonline payment gatewayâ as a âwhite labelâ solution to other businesses and does not operate under its own brand. For these âwhite labelâ customers, payment processing is a useful addition to their own product portfolio.
This includes banks, financial service providers or SaaS (âsoftware as a serviceâ) providers who offer their customers the technology enriched with their own services. In the area of ââwhite label solutions in particular, Deutsche Bank expects very high double-digit growth rates for the number of affiliate resellers over the next few years. About 1,500 retailers already use the company’s payment platform. Contracts with existing customers remain unchanged.
Better Payment will retain its headquarters in Berlin. All Better Payment employees, including its longtime management team, will remain on board and work for Deutsche Bank in the future.
About Deutsche Bank
Deutsche Bank offers retail and private banking, merchant and transactional banking, lending, asset and wealth management products and services as well as targeted investment banking services to individuals, small and medium enterprises , businesses, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions behind them. These statements are based on plans, estimates and projections as currently available to the management of Deutsche Bank. Forward-looking statements are therefore only valid as of the date on which they are made, and we do not undertake to update them publicly in the light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. These factors include financial market conditions in Germany, Europe, the United States and elsewhere from which we derive a substantial portion of our income and on which we hold a substantial portion of our assets, changes in asset prices and markets volatility, potential default of borrowers or commercial counterparties, the implementation of our strategic initiatives, the reliability of our policies, procedures and methods of risk management, and other risks mentioned in our documents filed with the United States Securities and Exchange Commission. These factors are described in detail in our SEC Form 20-F dated March 12, 2021 under the heading âRisk Factorsâ. Copies of this document are available on request or can be downloaded from www.db.com/ir.
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Deutsche Bank AG published this content on September 20, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on September 20, 2021 07:01:05 AM UTC.
Public now 2021
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