Deutsche Bank has announced its plans to integrate the European payment solution Wero into its payment acceptance offering.
Concomitant with the market launch of Wero in Germany, Deutsche Bank’s Merchant Solutions division is set to begin accepting payments through the account-to-account digital payment solution. Merchant Solutions Acceptance is the bank’s specialist division for payment acceptance and processing. It focuses on addressing businesses’ needs, regardless of their size, from online shops to multinational corporations, and includes solutions specifically designed for the ecommerce industry.
Optimising payments across Europe
Emphasising the bank’s role in European payments and falling in line with its objectives in the payment space, Deutsche Bank plans to also allow clients to accept Wero in all participating countries, including Germany, Belgium, and France, after the go-live. Additionally, the financial institution intends a roll out in the Netherlands and Luxembourg after the initial launch.
Commenting on the move, representatives from Deutsche Bank underlined that, by embedding Wero, the financial institution is set to be able to provide its clients with a modern and European alternative to current international payment solutions, facilitating a service that is both secure and efficient. As detailed by Deutsche Bank, Wero will become one of its core local payment methods. Also, the offering of Deutsche Bank goes beyond conventional merchants, with it being opened to market integrators and aggregators, as fintech companies and payment service providers (PSPs). An interest towards the solution has already been shown by clients, with the financial institution aiming to launch Wero payment acceptance before the official rollout with some of them. In addition to being among the first providers of Wero, Deutsche Bank is a shareholder of the European Payments Initiative (EPI), creator of Wero.
Latest news from Deutsche Bank
The integration with Wero follows Deutsche Bank’s recent collaboration with Bolt, with the financial institution planning to launch card acquiring services in Europe and the UK. The technical processing was set to be enabled by Silverflow’s payment infrastructure, while the bank would act as the card acquirer for Bolt, offering the required regulatory framework to process card transactions through Visa and Mastercard. Also, Bolt could utilise Deutsche Bank’s membership with the schemes to route payments through Silverflow, with these schemes settling the funds from card transactions with the financial institution, which then executed the payouts to Bolt.
