They aim to jointly develop innovative digital payment solutions for companies
Deutsche Bank and Mastercard are expanding their partnership to develop innovations in the area of digital payments for business clients.
That would allow companies to offer their products and services to new customer demographics, develop digital business models, and expand sales channels in Germany and beyond.
These include digital platforms where firms can offer their products directly to consumers. For this, 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.
Due to the fact that the pandemic acting as a catalyst, payments is currently one of the fastest-growing businesses in the banking industry. Their revenues projected to grow by 6% per year until 2023 and the number of transactions forecast to rise by 11% per year over the same period.
We’ve reported that Deutsche Bank announced the launch of a payments platform for its clients in Thailand to facilitate local collections through 2C2P.