Deutsche Bank Expands Support for PayPal to Strengthen Global Payment Capabilities
PayPal and Deutsche Bank today announced the expansion of their long-standing relationship that will deliver enhanced payment solutions across the United States, Europe, and Asia-Pacific. Building on more than a decade of collaboration, this global mandate underscores the common commitment to innovation and operational excellence in commerce and payments for both companies.
Under this expanded agreement, Deutsche Bank will scale up the merchant settlement, payouts, and begin withdrawals and collection solutions for PayPal in the US. In Europe and Asia-Pacific, Deutsche Bank will support PayPal in various ways as well. This collaboration builds on the considerable volume that Deutsche Bank already processes annually for PayPal, providing scalability and resilience.
“This partnership reflects our shared commitment to innovation, as well as the deepening of a strong relationship that we have nurtured for more than a decade with PayPal,” said Ole Matthiessen, Global Co-Head of Corporate Bank at Deutsche Bank.
“By combining PayPal’s global reach with Deutsche Bank’s expertise in Cash Management and Merchant Solutions, we are adding more resiliency and diversification to our platform. With this expansion we will be able to grow the commerce solutions we deliver to our customers worldwide,” said Kausik Rajgopal, EVP for Strategy, Partnerships and Corporate Development at PayPal.