Following the receipt of transaction approval from regulators, EVO Payments International will purchase 100% of the subsidiary.
Deutsche Card Services, Cologne, trades in 39 European markets, and delivers merchant acquiring services including online, point-of-sale and ATM, as well as other related services to the bank’s multi-national clients.
Apart from the aforesaid deal, Deutsche Bank’s Global Transaction Banking division and EVO Payments International will sign a long-term strategic relationship agreement, to carry out collective marketing efforts for card acquiring and related products on pan-European basis.
EVO Payments International CEO James Kelly said the company will utilize the Cologne site as platform for its pan-European growth plan, to enable the firm expand its businesses across Europe.
The privately-held payment processor is an acquirer for merchants, Independent Sales Organizations (ISOs), financial institutions, government organizations, and multinational corporations in the US, Canada and Europe.
