Media Release
September 20, 2021
Deutsche Bank acquires Berlin-based payment service provider Better Payment
Deal expands product range and increases market share in payments in Germany
Deutsche Bank is acquiring payment service provider Better Payment Germany GmbH, based in Berlin. Through the acquisition, Deutsche Bank will expand its market share in payment processing and acceptance. Over the next 12 months, Deutsche Bank will integrate Better Payment's technical solutions into its existing product range.
“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,” said 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," said Thalhammer. The bank plans to offer further banking and payment services via the existing Better Payment channels.
Better Payment operates a service for the technical processing of online payments. For this purpose, the company uses a payment platform ("online payment gateway") to carry out and receive online payments. The payment platform enables retailers - or their clients - to accept all common means of payment and to be able to receive all types of payment consignments. Better Payment offers its own "online payment gateway" as a "white label" solution to other companies and does not operate under its own brand. For these "white label" customers, payment processing is a useful addition to their own product portfolio.
This includes banks, financial service providers or SaaS (“software as a service”) providers who offer their customers the technology enhanced with their own services. In the business with “white label” solutions in particular, Deutsche Bank expects very high growth rates in the double-digit percentage range for the number of affiliated dealers over the coming years. Around 1,500 retailers are already using the company's payment platform. Contracts with existing customers remain unchanged.
Better Payment will keep its headquarters in Berlin. All Better Payment employees, including its long-standing management team, will stay on board and work for Deutsche Bank in future.
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
This 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 underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in 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. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 12 March 2021 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.
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