Deutsche Bank outlines progress with mobile payments strategy and Luup partnership at press conference

12 Feb 2010

Deutsche Bank's Ron van Wezel, Director of Emerging Payment Streams, made new mobile business models and service offerings a key theme of his presentation on Deutsche Bank's global initiatives in mobile payments. He also outlined mobile payments market trends and business opportunities, as the value of mobile payments market is set to surpass $500 billion by 2015.

At the recent press conference, held on 20th January 2010, Van Wezel said that through its strategic partnership with mobile payments solutions provider Luup, Deutsche Bank has made significant progress developing new mobile payments services. These will enable the bank to offer innovative services to its Global Transaction Banking (GTB) clients in countries across Europe, Middle East and Asia as well as North America. 

Mobile remittances trends were given a big focus at the presentation, as the cross-border remittances market already stands at $420 billion globally. The target is to 'Mobile enable' GTB's global remittance offering, so that Deutsche Bank's Financial Institution clients can offer new mobile services to their customers, including payments initiation and SMS advising. 

Another mobile proposition under development by Deutsche Bank and Luup is for corporates with large domestic and international supply chain distribution networks. This offering will enable those corporates to transform business-to-business processes and cash management.  Corporates' end users can make and receive payments, authorise invoices and initiate payments remotely using a company mobile. So the new proposition offers faster payment collection, increased convenience and the opportunity to reduce operational costs. 

Ron van Wezel gave credit to Luup executives, who attended the press conference, reiterating that Deutsche Bank believes Luup has the right people, advanced technology and robust strategy needed to support Deutsche Bank's roll-out of  innovative mobile solutions. 

He then concluded his presentation stating that it is vital for corporates and financial institutions to select the right partners in the emerging mobile payment space, and that initial negotiations with potential clients confirm the high level of interest in Deutsche Bank's new offerings. 

For further information see the attached slides, an extract from the presentation, and a vodcast on the launch of the Deutsche Bank - Luup partnership.