News In Brief

G+D Strengthens Payments Portfolio

Giesecke+Devrient is continuing its business transformation strategy with the acquisition of critical German payment infrastructure in the form of the Payments & Banking Services business of Bank-Verlag. A subsidiary of the Association of German Banks, the business processes one in four card and internet-based payment transactions in Germany.

G+D states that, with this acquisition, it is expanding its Financial Platforms segment with a central building block. The end-to-end offering in digital payments and banking will now range from electronic payment systems through digital banking, digital wallets and authentication to transaction authorisation.

As a leading provider of security technology, G+D says it combines the necessary experience in payment solutions and authentication with proven expertise in digital security and protection of critical infrastructures. This enables it to operate the payment processing business in a regulatory environment as an owner.

The newly acquired business will be integrated into G+D Netcetera, G+D’s subsidiary specialising in financial software.