Deutsche Bank and Mastercard are expanding their partnership to jointly develop innovations in the area of digital payments for business clients.
The collaboration will enable companies to offer their products and services to new customer demographics, to develop digital business models and to expand sales channels in Germany and beyond. These include digital platforms where firms can offer their products directly to consumers, for which they require an efficient payment management system for mobile and digital payments as well as a seamless integration of payment flows into their financial and accounting systems.
Ole Matthiessen, Global Head of Cash Management at Deutsche Bank, commented:
“The coronavirus pandemic has triggered exponential growth in corporates’ demand for digital payment solutions. Payments is the key interface between banks and their clients. Worldwide only very few banks cover the entire spectrum of the payments area. This starts with card issuance and merchant acceptance and extends to cover payments clearing in the domestic and foreign markets as well as additional services such as currency hedging, cash flow forecasting or even fraud management services.”
Peter Bakenecker, Divisional President Germany and Switzerland at Mastercard, said:
“We are combining our technological expertise with the offering and the global presence of Deutsche Bank. This is a great opportunity to create new solutions for the complex issues pertaining to payments. We have been collaborating for many years already and want to deepen our joint endeavors. The timing is ideal given current market developments, the imminent pandemic-induced shifts in global payments and companies’ accelerated digital transformation.”
