This new offering enables Deutsche Bank’s clients to access a global payment acceptance platform, along with a wide range of local payment methods in these countries. The expansion follows Deutsche Bank’s strategic investment in DataMesh Group, an Australian PayTech company, announced in February 2023.
This partnership leverages DataMesh’s payment orchestration layer to facilitate payments through individual acquirers. This setup allows merchants in these regions to accept online payments within regulated currency zones.
With the growing demand in Asia-Pacific’s ecommerce market, Deutsche Bank aims to provide businesses with a seamless and efficient payment service. Representatives for Asia Pacific and the United States expressed optimism about the market potential, noting the region's rapid growth in ecommerce.
The new Merchant Solutions offering adds value to Deutsche Bank's existing cash management services across the region, according to representatives for Asia Pacific and the Middle East and Africa. They emphasized the bank's commitment to expanding this service, positioning it as a key differentiator in the market.
Deutsche Bank plans to roll out Merchant Solutions to additional countries in Asia, including Thailand, Vietnam, Philippines, Singapore, Malaysia, and Hong Kong. The goal is to simplify connectivity for clients and offer local payment methods that align with global payment acceptance standards.
According to Statista, revenue in Asia's ecommerce market is expected to reach USD 1.97 trillion in 2024, with an annual growth rate of 9.8%, pushing the market volume to USD 3.15 trillion by 2029.
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