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Deutsche Bank and PayPal have announced an expansion of their partnership spanning more than a decade, delivering enhanced payment solutions across the United States, Europe, and Asia-Pacific.
Under the expanded agreement, Deutsche Bank will scale up merchant settlement and payouts, whilst beginning withdrawals and collection solutions for PayPal in the US. In Europe and Asia-Pacific, Deutsche Bank will support PayPal in various capacities. This collaboration builds on the considerable volume that Deutsche Bank already processes annually for PayPal, providing scalability and resilience.
Ole Matthiessen, Global Co-Head of Corporate Bank at Deutsche Bank
Ole Matthiessen, Global Co-Head of Corporate Bank at Deutsche Bank, said:
"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. 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."
Kausik Rajgopal, EVP for Strategy, Partnerships and Corporate Development
Kausik Rajgopal, EVP for Strategy, Partnerships and Corporate Development at PayPal, said:
"With this expansion we will be able to grow the commerce solutions we deliver to our customers worldwide."
Deutsche Bank is the leading bank in Germany with strong European roots and a global network, providing 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.
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