Mastercard And Deutsche Bank Announce Collaboration for Open Banking Payments
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Deutsche Bank has announced a partnership with Mastercard, enabling merchants in Europe to offer pay-by-bank services to their customers.
According to the announcement, the collaboration will enable merchants to provide the service via Deutsche Bank’s Merchant Solution. In a press release, Mastercard stated that the solution will be offered in conjunction with account-to-account payments based on the payment giant’s open banking network.
Mastercard Will Integrate Its Open Banking Solution Into The Bank’s Platform
Kilian Thalhammer, Deutsche Bank’s Global Head of Merchant Solutions, commented on the collaboration. “This partnership with Mastercard marks a pivotal moment in the growth of open banking,” he said. Thalhammer added that both companies will deliver advanced merchant solutions that align with the needs of a digital-first economy.
The partnership will see Mastercard’s open banking solution integrated into the Deutsche Bank platform. The goal is to support better payment transparency and improve reconciliation for both merchants and their customers.
As a result, banks can utilize Deutsche Bank’s R2P (Request to Pay) feature as a viable option. This will enable customers to make payments directly from their bank accounts. Using this process means they will receive instant notification after the payment is made. This will help ease the burdens of payments and improve the network’s security.
Valerie Nowak, Head of Open Banking and Executive Vice President at Mastercard Open Banking Europe, also commented on the development.
He noted that the collaboration would combine the bank’s payments expertise with its open banking payments technology to offer superior services to major merchants across Europe. Both companies will continue their collaboration to shape a future where account-based payments become the mainstay for businesses.
Mastercard Says More Customers Are Linking Their Accounts For Open Banking
Open Banking Limited stated that the payment system powered over 27 million customers in the UK during March 2025. Mastercard noted that the open banking service has already transformed the payments landscape over the past few years, as more customers continue to utilize the account-to-account payments option, which is experiencing strong growth.
A recent research in the U.S. revealed that 46% of customers said they are highly willing to try open banking payments. However, only 11% of users are active. The research also revealed that millennials are more interested in open banking payments, with approximately 66% of customers indicating a high level of interest in the payment method.
In October of last year, Mastercard announced that 76% of its customers had already linked their financial accounts for open banking. 93% of them agreed that they must have complete control over how their financial data is used.
