Deutsche Bank unveils Merchant Solutions in Australia, India, Indonesia, and SoKor

It is a global payment acceptance platform that gives access to local payment methods in a market.

Deutsche Bank has launched Merchant Solutions capabilities in Australia, India, Indonesia, and South Korea.

Merchant Solutions is a global payment acceptance platform and provides Deutsche Bank clients with access to local payment methods in the four markets.

The bank plans to roll out Merchant Solutions across Asia over the next few years, prioritising Thailand, Vietnam, Philippines, Singapore, Malaysia and Hong Kong.

It will particularly focus on offering key local payment methods and helping clients to simplify connectivity to global payment acceptance platforms, the bank said in a press release.

The move comes as revenue in Asia's e-commerce market is projected to reach $1.97t in 2024. It is further expected to show an annual growth rate of 9.8%, resulting in a projected market volume of $3.15t by 2029, Deutsche Bank said, based on data from Statista.

Merchant Solutions “significantly broadens [Deutsche Bank’s] cash management services in the Asia Pacific,” said Rachel Whelan, head of corporate cash management for Asia Pacific, the Middle East, and Africa; and global head of payments and transactional FX product management.

“Being able to offer a one-stop shop for our clients’ payments 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,” Whelan said, commenting on Merchant Solutions’ launch in the region.