Deutsche Bank boosts eCommerce in APAC with merchant solutions

By Gloria Mathias

Deutsche Bank has launched Merchant Solutions capabilities in Australia, India, Indonesia, and South Korea. The solutions provide the bank’s clients with a global payment acceptance platform and access to a diverse range of local payment methods in these four markets.

The launch follows Deutsche Bank’s strategic investment in the Australian PayTech company, DataMesh Group, announced in February 2023. Through this collaboration, Deutsche Bank leverages DataMesh’s payment orchestration layer, allowing it to work with individual payment acquirers and enable merchants in Australia, India, Indonesia, and South Korea to accept online payments within individually regulated currency zones.

DataMesh consolidates cross-border payment data and enables Deutsche Bank’s clients to manage their payments across currency borders and different jurisdictions centrally.

Oliver von Quadt, Deutsche Bank’s Head of Merchant Solutions for Asia Pacific and the United States, said, “We are delighted to go live with Merchant Solutions in Asia Pacific and enable our clients to offer seamless and efficient payment services. We see significant potential for our Merchant Solutions business in the region, which houses some of the fastest-growing and most exciting eCommerce markets in the world.”

Rachel Whelan, Head of Corporate Cash Management for Asia Pacific and the MEA and Global Head of Payments and Transactional FX Product Management, shared, “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 client’s 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.”

Deutsche Bank will continue to roll out Merchant Solutions capabilities across Asia over the next few years, prioritising Thailand, Vietnam, the Philippines, Singapore, Malaysia, and Hong Kong. The bank will focus on offering key local payment methods and helping clients simplify connectivity to global payment acceptance platforms.