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Dutch bank ING buys payment technology firm

ING's latest acquisition shows banks' eagerness to capitalise on data in their transaction banking units

Dutch bank ING buys payment technology firm

Dutch bank ING has struck a deal to buy a major stake in a payment processing firm, as transaction banking businesses look to gain a competitive advantage through their use of client data.

ING has taken a 75% stake in Payvision, which processes card payments, in a deal that values the Dutch technology firm at €360m.

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