Germany: banks join forces to develop proprietary online payments system

Tuesday 23 December 2014 09:52 CET | News

Several traditional German banks are jointly working on an online payment system, e-commercefacts reports, citing Die Welt.

The joint initiative aims to counteract competition and gain customer trust and added security. In order to better manage the new service, the German bank association Deutscher Sparkassen Verlag has acquired the payments provider Payone.

In recent news, Payone has received the Deloitte Technology award for its work in the fields IT, communication and life sciences in Germany.

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Keywords: Germany, online payments system, PayPal, Apple Pay, customer trust, security, Union
Categories: Payments & Commerce
Countries: World
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