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."