Banking giant Deutsche Bank teamed up with NL-based Silverflow to launch new payment solutions for corporate banking clients in Germany and payment service providers (PSPs) across Europe and the US.
Under the new partnership – scheduled to launch in Autumn 2021 – two new payment services will be offered which will include card acquiring & BIN sponsorship for cloud-based card acceptance solutions.
As part of the association, Deutsche Bank will enable PSPs across Europe and the US in the first step to accept debit and credit card payments through Silverflow’s cloud-based card acquiring service. And Silverflow will provide access to its machine-learning powered merchant chargeback API to manage disputed payments from card issuers on behalf of a cardholder.
This move is a step towards automating a largely manual mail and fax-based process as well as helping merchants make substantial cost savings.
Commenting on the collaboration, Deutsche Bank’s Corporate Bank head of merchant solutions Kilian Thalhammer said, “With Silverflow’s cloud-native payment technology, we can offer our customers high-end, best-in-class services that set new standards for bank-supported acquiring services and digital payments.”
Echoing a similar sentiment, Silverflow CEO Anne Willem de Vries added, “Silverflow is building a new payments tech stack for the modern age that aims to replace the legacy systems that the industry has long viewed as an immovable force. Silverflow enables customers and partners to setup, scale and automate manual tasks such as managing chargebacks, alleviating headaches and supporting growth.
“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.”
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