Singapore – Deutsche Bank, a multinational investment bank and financial services firm, has recently announced the official rollout of its merchant solutions in Australia, India, Indonesia, and South Korea.
This initiative aims to offer clients a global payment acceptance platform and access to a diverse range of local payment methods in the said markets. It also comes after their strategic investment in the Australian PayTech firm, DataMesh Group, revealed in February 2023.
Moreover, the new partnership allows Deutsche Bank to employ DataMesh’s payment orchestration layer, allowing collaboration with payment acquirers and facilitating online payment acceptance for merchants in Australia, India, Indonesia, and South Korea within their respective regulated currency zones.
By consolidating cross-border payment data, DataMesh further enables Deutsche Bank’s clients to manage their payments seamlessly across currency boundaries and multiple jurisdictions.
Additionally, the bank also unveiled its plans to launch its merchant solutions capabilities across Asia over the next few years, with a particular focus on Thailand, Vietnam, the Philippines, Singapore, Malaysia, and Hong Kong.
With this, the bank intends to focus on providing key local payment methods and helping clients to simplify connectivity to global payment acceptance platforms.
Oliver von Quadt, head of merchant solutions for Asia Pacific and the United States at Deutsche Bank, said, “We are delighted to go live with Merchant Solutions in Asia Pacific and enable our clients to offer seamless and efficient payment services.”
Rachel Whelan, head of corporate cash management for Asia Pacific and the Middle East and Africa and global head of payments and transactional FX product management, also commented, “Our newly launched Merchant Solutions capabilities significantly broaden our cash management offering for clients across Asia Pacific. Being able to offer a one-stop shop for our clients’ payment needs is a true differentiator for us in the market, and we look forward to growing this business in Asia in the years to come.”
