Raisin Bank has moved into the payments space by acquiring a new business.
In Brief:
Raisin Bank originated in Germany and offers banking-as-a-service.
It's purchased a unit of Bankhaus August Lenz.
Raisin now has the payments unit and can offer customers electronic payment transactions as well as cash.
What does this mean?
Raisin Bank can now offer end users access to over 4500 ATMs in Germany working with major operators – it says the acquisition will drive growth in the BaaS market across Europe.
