
Reached agreement with EVO Payments
Deutsche Bank and EVO Payments International have reached an agreement on the sale of Deutsche Card Services, a wholly owned subsidiary of Deutsche Bank (view press release). EVO Payments will acquire 100% of Deutsche Card Services, subject to regulatory approvals. Deutsche Card Services operates in 39 European markets and provides merchant acquiring services to multi-national clients of Deutsche Bank. Its Global Transaction Banking division will also enter into a long-term strategic agreement with EVO Payments International. This will cover joint marketing of card acquiring and related products.
James G. Kelly, CEO of EVP Payments International, said: “We are very excited to be expanding our business and the existing US sponsorship and referral relationship with Deutsche Bank into Germany and across Europe. We regard Deutsche Card Services as an excellent platform to facilitate this expansion. Clearly, we have been very impressed by the Deutsche Card Services team and will leverage the Cologne site as our platform for our pan-European growth strategy.”
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more