Deutsche Bank has signed a global partnership with payment technology provider Silverflow to enhance its payments strategy.
The partnership includes two new payment services, which are set for a launch later this year.
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Deutsche Bank will enable payment service providers across Europe and the US to accept debit and credit card payments via Silverflow’s cloud-based card acquiring service.
Deutsche Bank’s Corporate Bank head of merchant solutions Kilian Thalhammer said that Silverflow’s cloud-native payment technology will enable the bank to offer high-end, best-in-class services that set new standards for bank-supported acquiring services and digital payments.
As part of the tie-up, Silverflow will offer new solutions for Deutsche Bank corporate banking customers.
Silverflow’s solution will provide access to its machine-learning-based merchant chargeback API to manage disputed payments from card issuers representing a cardholder.
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By GlobalDataClaimed to be an industry-first approach, this initiative will automate a largely manual mail and fax-based process to help merchants make substantial cost savings.
This service will be initially rolled out in Germany.
Commenting on the tie-up, Silverflow co-founder and CEO Anne Vries said: “Signing Deutsche Bank as our global partner is a significant achievement for Silverflow that shows the strength of our technology and team, bringing best-in-class card payments processing to banking customers.”
In February this year, Netherlands-based paytech company PayU partnered with Silverflowv to offer card acquiring services to payment service providers, globally.
Last October, Silverflow raised $3.07m in a seed funding round to fund the launch of its card payments processing technology.
