Deutsche Bank acquired an equity stake in US-based ModoPayments

Deutsche Bank ModoPayments

Acquisition helps Deutsche Bank to connect payment systems in faster and better way

  • US-based ModoPayments is an industry leader in digital payments innovation
  • Modo’s technology will help the bank expand its existing digital business-to-business and business-to-consumer payments business
  • Deutsche hopes to extend its payment capabilities into non-traditional channels, such as the mobile wallets and peer-to-peer networks
  • Deutsche Bank will be able to directly process payments to mobile wallets and app-based payment solutions in future
  • Modo exchanges payment data across platforms on behalf of banks, payment networks, and providers, enabling them to store, share, and track payment event data