Deutsche Bank and Mastercard has announce a joint strategic partnership aimed at driving the development of open banking payments forward and redefining the merchant and consumer payment experience throughout Europe.
The partnership will take Deutsche Bank’s Merchant Solutions product, and especially its Request to Pay (R2P) service, to the next level by adding new dimensions of choice, flexibility, and speed with account-to-account based payments on Mastercard’s secure open banking network.
As open banking and account-to-account (A2A) payments are quickly gaining traction throughout
Europe, this partnership puts Deutsche Bank and Mastercard ahead of the payment curve allowing merchants to provide “Pay by Bank” capability using Deutsche Bank’s Merchant Solutions.
The collaboration enables merchants to use R2P as a preferred mode of payment that allows consumers to authorize payment directly from their bank account with real-time processing and instant confirmation. Mastercard’s open banking technology will be seamlessly integrated into Deutsche Bank’s platform, enabling faster settlement, improved reconciliation, and increased payment transparency.
“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.”
Valerie Nowak, executive vice president, head of Open Banking for Mastercard Asia Pacific, Europe, Middle East and Africa, 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.”
As European consumers and merchants increasingly ask for quicker, less expensive, and safer means of making payments, Deutsche Bank and Mastercard are providing solutions that raise the bar.This agreement not only confirms Deutsche Bank’s position as a payment industry leader, but it also establishes R2P as an appealing alternative to card payments in terms of choice, efficiency, and innovation.
The two companies announced their cooperation during Money 20/20, which will be held in Amsterdam in 2025. Current Deutsche Bank RTP users will be smoothly migrated to the new platform.