Deutsche Bank acquires equity stake in ModoPayments

Friday 24 August 2018 14:02 CET | News

Deutsche Bank has announced the acquirement of an equity stake in ModoPayments, thus expanding towards non-bank payment platforms.

As per the agreement, Deutsche Bank will start focusing on mobile wallets and peer-to-peer networks.

Modo’s technology will support Deutsche Bank’s strategy to grow its transaction banking franchise by expanding its existing digital business-to-business and business-to-customer payments business.

Deutsche Bank, which currently focuses mainly on commercial and investment banking, retail banking, and transaction banking, will be able to extend payments beyond traditional banking channels, into non-bank payment platforms such as Alipay, Paypal, M-Pesa, and We Chat.

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Keywords: Deutsche Bank, US, ModoPayments, retail banking, transaction baking, payments , Alipay, PayPal, M-Pesa, We Chat
Countries: World

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