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Deutsche Bank takes equity stake in Modo Payments

August 24, 2018

The German bank plans to leverage Modo’s technology to expand its digital business-to-business and business-to-consumer payments.

Specifically, Deutsche hopes to extend its payment capabilities into non-traditional channels, such as the mobile wallets and peer-to-peer networks of Alipay, Paypal, M-Pesa, and WeChat.

John Gibbons, head of global transaction banking at Deutsche Bank, refers to payments as the “bloodline of banking”.

He notes that Modo will give Deutsche “more flexibility” in facilitating non-traditional transactions.

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