Deutsche Bank completed the acquisition of ModoPayments.

Deutsche Bank, a German multinational investment bank and financial services company, completed the acquisition of ModoPayments, a payments technology company that focuses on reducing friction throughout the payments industry. Financial terms were not disclosed. “Modo’s technology will allow us to provide new transaction services and payment alternatives for the rapidly growing digital economy, for example, vendors who provide products or services like entertainment content or application development and want to be paid in their mobile wallets, an important area of growth,” Michael Spiegel, Deutsche Bank Global Head of Cash Management.