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May 29, 2015updated 04 Apr 2017 4:02pm

EVO Payments agrees to acquire Postbank’s merchant acquiring unit

EVO Payments International, a US-based payment service provider, has signed an agreement to acquire Deutsche Postbank’s merchant acquiring business POS Transact.

By Verdict Staff

EVO Payments International, a US-based payment service provider, has signed an agreement to acquire Deutsche Postbank’s merchant acquiring business POS Transact.

In addition, EVO plans to sign a long-term strategic marketing agreement with Deutsche Postbank, under which both the companies would offer a wide range of card acquiring and related products on an exclusive basis to the bank’s merchant customers.

EVO Payments CEO James G. Kelly said, "Following our acquisition of Deutsche Card Services from Deutsche Bank, this acquisition represents a further investment by EVO to deliver powerful payment solutions to the German and broader European markets by partnering with a leading financial institution in the region."

Postbank management board member Susanne Kloess said: "With EVO Payments we are convinced to have found a very experienced and reliable partner for our existing and future card acceptance business.

"Our clients will benefit from EVO’s state-of-the-art payment solutions portfolio complementing Postbank’s core strengths in Retail and Transaction Banking."

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