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Wireless

Deutsche Bank purchases stake in payments startup Modo

Friday 24 August 2018 | 12:09 CET | News
Deutsche Bank said it has acquired an equity stake in the US-based payments startup ModoPayments. Deutsche Bank said the purchase will help grow its transaction banking franchise, as Modo will enable the bank to expand its existing digital business-to-business and business-to-consumer payments businesses. Deutsche Bank said it will also be able to extend its payments business into non-bank payment platforms like Airpay, PayPal and WeChat that offer peer-to-peer or mobile wallet transactions beyond traditional banking channels. No financial details of the deal were disclosed.

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Categories: Mobile & Wireless
Companies: Deutsche Bank GB / ModoPayments
Countries: Germany / World
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