EVO in Deal with Deutsche Postbank for European Expansion

EVO Payments is set to purchase Deutsche Postbank’s merchant acquiring business, P.O.S. Transact.

The agreement involves a long-term marketing plan in which Postbank’s merchant customers will have access to card acquiring and other services made available by both companies.

The New York-based payments processor framed the sale as one that would allow it to further expand in Germany and Europe. In 2013 it acquired Deutsche Bank’s Deutsche Card Services, which included a 10-year contract to support its Global Transaction Banking division across European markets and allows it to operate there as a payments institution and a principal member of Visa and MasterCard.

EVO provides merchant acquiring and processing solutions for merchants, Independent Sales Organizations and financial and government institutions. Before its deal with Deutsche it had only operated in the U.S. and Canada.

The company has since pursued its international reach through other deals, including an acquisition in Spain and a sale to Madison Dearborn to help fund its global expansion.