Deutsche Bank will sell 100% of its Cologne-based Deutsche Card Services to US merchant acquirer EVO Payments International.

Deutsche Card Services operates in 39 European markets and provides merchant acquiring services to clients of Deutsche Bank including online, point-of-sale and ATM.

As part of the deal, Deutsche Bank’s global transaction Banking division and EVO will work together on joint marketing projects.

Werner Steinmüller, head of global transaction banking said: "Deutsche Bank has an excellent existing working relationship with EVO Payments in the US. This is an opportunity to expand that relationship and reap the rewards of partnering with an experienced and high quality provider."

James G Kelly, CEO of EVO said: "We have been very impressed by the Deutsche Card Services team and will leverage the Cologne site as our platform for our pan-European growth strategy."

The transaction is subject to regulatory approvals. Financial terms have not been disclosed.