- New partnership includes card acquiring & BIN-sponsorship for cloud-based card acceptance solutions
- Initial solutions available for corporate banking clients in Germany and payment service providers (PSPs) across Europe and the US will launch in Autumn 2021
Frankfurt & Amsterdam – May 19, 2021 – Deutsche Bank andSilverflow have announced a global partnership to support the bank’s payments strategy. The partnership will include two new payment services, which are expected to launch in Autumn 2021.
Kilian Thalhammer, Head of Merchant Solutions at Deutsche Bank’s Corporate Bank, said, “Deutsche Bank is creating a new digital payment ecosystem, working with best-in-breed tech players like Silverflow. 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.”
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.
Silverflow will also provide innovative new solutions for Deutsche Bank corporate banking customers. Initially launching in Germany, Silverflow’s will provide access to its machine-learning powered merchant chargeback API to manage disputed payments from card issuers on behalf of a cardholder. This is an industry-first approach to automate a largely manual mail and fax-based process, which will help merchants make substantial cost savings.
Founded by experienced online payments experts, Silverflow is the first card payments processor with a cloud-native platform with simple APIs, robust data and direct card network integration. Based on today’s service-based technology approach, Silverflow helps customers easily add new features, markets and scale processing capacity as needed.
Anne Willem de Vries, Co-Founder and CEO of Silverflow said, “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.”
Silverflow is a global payments technology company, founded by online payments industry veterans, with the mission to accelerate technological innovation in the payments industry. Silverflow’s cloud-based platform provides a state-of-the-art upgrade and direct access to the card networks for payment services providers, merchants and acquirers. Its intuitive product and scalable technology brings value, creates efficiencies, and drives new opportunities for all. Based in Amsterdam, Silverflow is backed by Crane Venture Partners, INKEF Capital and notable angel investors from Pay.On, First Data, Mastercard, Booking.com, and Adyen.
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
How it works:
- Deutsche Bank will provide its acquiring licenses, settlement capabilities and foreign exchange platform. The new offering will allow merchants to set up a bank account with Deutsche Bank in one of 35 different currencies, enabling merchants to maximize successful transactions, reduce manual chargebacks, optimize revenues and improve customer experience.
- Silverflow will provide its state-of-the art cloud-based processing technology, directly connected into the card networks of Visa and Mastercard. By using Silverflow’s cloud-based technology, the new offering can be deployed very rapidly at minimum cost using Silverflow’s API.