Agreement with EVO Payments
Payments provider EVO Payments International is acquiring Deutsche Card Services, a wholly owned subsidiary of Deutsche Bank, subject to regulatory approval (view press release). Deutsche Bank’s Global Transaction Banking division and EVO Payments International are also entering into a long-term strategic relationship agreement which involves joint marketing efforts regarding card acquiring and related products by the two parties on a pan-European exclusive basis.
Deutsche Card Services, which is based in Cologne and operates in 39 European markets, provides merchant acquiring services to multi-national clients of Deutsche Bank including online, point-of-sale and ATM, as well as other related services.
James G. Kelly, CEO of EVO Payments International, said: “We regard Deutsche Card Services as an excellent platform to facilitate this expansion. This transaction represents the next step in having our company achieve this mission, and through supporting the Deutsche Bank relationship, we are confident in our ability to rapidly expand our market share.”
“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,” said Werner Steinmuller, Head of Global Transaction Banking and a member of the Deutsche Bank Group Executive Committee.
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