Otto expands payments agreement

Multichannel German brands retailer Otto has expanded its agreement with its long-term payments partner

Concardis has delivered payment services to Otto Group for more than 16 years and the expanded partnership will see the company manage services for the new Otto Market, which was founded in autumn 2020 and in which all payment activities will be bundled with in future.

Mirko Krauel, from Otto Group, said: “Concardis has been a very long-standing and trustworthy partner, particularly in credit card acquiring, for the majority of the Otto Group companies. We look forward to continuing to rely on Concardis as an important partner, particularly in the development of our own payment provision.”