To support the bank’s latest payment strategy and enable two new payments services, both of which are expected to launch in Autumn 2021, Deutsche Bank and Silverflow have announced a global partnership.
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.
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.”
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.”
Willem de Vries further added, “Deutsche Bank is a trusted partner for more than 900k SME companies in Germany. This cooperation will enable these companies to benefit from Silverflow’s payment technology, by removing friction and adding automating to manual tasks like chargeback management. Silverflow aims to accelerate technological innovation in the global payments industry. This cooperation is a great step towards that goal.”
