Deutsche Bank Expands Partnership with Mastercard in Payments Space

Deutsche Bank, a leading global investment bank, announced that it has expanded the partnership with Mastercard, a global technology company in the payments industry, to jointly develop innovations in the area of digital payments for business clients.

With the coronavirus pandemic acting as a catalyst, payments is currently one of the fastest growing businesses in the banking industry. Companies 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.

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.

Ole Matthiessen, Global Head of Cash Management at Deutsche Bank said:”The coronavirus pandemic has triggered exponential growth in corporates’ demand for digital payment solutions. Payments is the key interface between banks and their clients.”

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 endeavours. ”