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EVO Payments reaches agreement with Deutsche Postbank for purchase of POS Transact

EVO Payments International (EVO) has reached agreement with Deutsche Postbank (Postbank) for the purchase of Postbank's merchant acquiring business, P.O.S. Transact.

In addition, EVO and Postbank will enter into a long-term strategic marketing agreement under which EVO and Postbank will make available to the bank’s merchant customers a wide variety of card acquiring and related products on an exclusive basis.

James G. Kelly, CEO of EVO Payments International, said, "We are delighted to enter into a long-term partnership with Postbank to offer market-leading payment products and services to the bank’s merchant customers.

"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."

Susanne Kloess, Member of Postbank’s Management Board: "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."