Deutsche Bank challenges the big payment providers
The Deutsche Bank skyscraper in Frankfurt am Main. (Photo: EQRoy / Shutterstock.com)
No time right now?
Deutsche Bank wants to try again as a payment provider for online trading. The bank was already active in this area before – but not very successfully.
Payment processors like the Dutch company Adyen are benefiting from the corona-related increase in online purchases. The company’s net sales rose 28 percent in 2020. Deutsche Bank now wants to serve this high-growth segment again and return to the payment acceptance business.
Germany’s largest credit institute was already active in this segment before, but later said goodbye to it and sold corresponding company holdings. Mastercard is intended to serve as a partner for Deutsche Bank’s newly flamed e-commerce ambitions. According to a press release, the two companies want to jointly build digital payment solutions.
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Return to online trading: Deutsche Bank relies on existing customers
According to reports from Handelsblatt On the one hand, Deutsche Bank wants to attack the established payment processors in the e-commerce sector, on the other hand, the bank also wants to concentrate on existing major customers. The Deutsche Bank apparently sees a need here, especially among corporations that are only now entering direct sales and, accordingly, are not yet in business with any of the established providers. The company sees good opportunities for itself, especially in the growing B2B trade.
“There are very few banks in the world that cover the entire spectrum of payment transactions like we do,” explains Ole Matthiessen, who is responsible for cash management at Deutsche Bank. In the future, Deutsche Bank wants to be available to merchants as a service provider for the entire payment process. Currently, two pilot projects are already running with Dax companies that want to get into direct sales.
