Deutsche Bank, Mastercard expand R2P with open banking in Europe

By Gloria Methri

Deutsche Bank and Mastercard have announced a strategic partnership aimed at transforming the European payments landscape by expanding open banking solutions. Unveiled at Money 20/20 in Amsterdam, the collaboration strengthens Deutsche Bank’s Merchant Solutions offering—particularly its Request to Pay (R2P) service—by integrating Mastercard’s open banking payments technology.

The initiative will enable merchants across Europe to offer account-to-account (A2A) payment options via “Pay by Bank” functionality, giving consumers greater control, speed, and convenience when making payments. As demand rises for seamless, real-time digital payment methods, the partnership positions both institutions at the forefront of innovation in open banking.

“This partnership with Mastercard marks a pivotal moment in the growth of open banking,” said Killian Thalhammer, Global Head of Merchant Solutions at Deutsche Bank. “Together, we are delivering innovative merchant solutions that reflect the needs of a digital-first economy—secure, instant, and built for scale.”

Through Mastercard’s open banking infrastructure, Deutsche Bank’s R2P service will benefit from faster settlement, improved reconciliation, and greater payment transparency. Consumers will be able to authorise payments directly from their bank accounts, while merchants will experience a more streamlined process with immediate confirmation and reduced reliance on traditional card schemes.

Valerie Nowak, Executive Vice President and Head of Open Banking at Mastercard Europe, added, “Our long-standing collaboration with Deutsche Bank showcases the power of partnerships in transforming how people and businesses interact with money. With the further expansion of our partnership, we combine our open banking payments technology with Deutsche Bank’s payments expertise and big merchant base across Europe, and together we’re shaping a future where account-based payments are becoming the new norm.”

By integrating Mastercard’s API-based solutions, Deutsche Bank is reinforcing its commitment to leading the next phase of payments innovation in Europe. Existing customers of Deutsche Bank’s RTP service will be transitioned smoothly to the enhanced platform as part of the rollout.