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Industry roundup: 19 May

Deutsche Bank partners with payments technology firm Silverflow 

Deutsche Bank and Silverflow 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. As part of the deal, Deutsche Bank will enable payment service providers (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. 

"Deutsche Bank is creating a new digital payment ecosystem, working with best-in-breed tech players like Silverflow," commented Kilian Thalhammer, head of Merchant Solutions at Deutsche Bank’s Corporate Bank. "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."

Silverflow will also provide solutions for Deutsche Bank corporate banking customers. Initially launching in Germany, it will provide access to its machine-learning powered merchant chargeback API to manage disputed payments from card issuers on behalf of a cardholder. The payments firm says this is an industry-first approach to automate a largely manual mail and fax-based process, which should help merchants make cost savings. 

 

SIA launches network service for banks and corporates to connect to payment infrastructures

SIA, a leading European hi-tech company in payment services and infrastructures, controlled by CDP Equity, has launched a network service that allows banks, corporates, public sector bodies and fintechs to connect their cloud-based applications directly to the main domestic and international payment infrastructures in a safe and secure manner. 

According to Eurostat data, 36% of EU corporates used cloud computing services in 2020, almost double the figure seen in 2016 (19%). The countries with the highest penetration rates were Finland (75%), Sweden (70%), Denmark (67%) and Italy (59%). 45% of European corporates used the cloud to run advanced financial or customer relationship applications (27%), and nearly a quarter (24%) leveraged their computing power to run their software applications. 

SIA Cloudnet supports the digitalisation path of players in the financial and insurance sectors, as well as public sector bodies and corporates (such as large-scale retail trade, utilities, telcos, transportation companies, oil companies, for example) by enabling the interconnection of their business services and applications, hosted at the main cloud providers such as Amazon Web Services (AWS) and Microsoft Azure, with the ecosystems of the payment processing platforms that can be reached through SIA’s network infrastructure. 

The solution is a single access channel to EBA Clearing's pan-European real-time payments system RT1, to Eurosystem's TARGET Instant Payments Settlement (TIPS) service, as well as to the PagoPA payments system and to the major domestic and international debit and credit card networks. 

SIA Cloudnet guarantees dedicated connections with the highest standards of quality, reliability, security and service continuity 24 hours a day, 7 days a week. SIA's high-speed, low-latency, guaranteed-bandwidth private fibre optic network infrastructure, through which payment and e-money transactions transit, is encrypted and complies with data protection standards such as the Payment Card Industry Data Security Standard (PCI DSS). 

 

Bottomline connects to Billtrust network

Billtrust, a B2B accounts receivable automation and integrated payments firm, has announced that financial technology provider Bottomline Technologies will connect its Paymode-X payers to new card acceptance endpoints via Billtrust’s Business Payments Network (BPN).

Bottomline customers are now able to use BPN’s connected platform of suppliers to send and receive digital payments through BPN’s digital lockbox. Customers should also reduce processing time and costs as they continue their migration from legacy payment types such as cheques. 

"Enabling complex buyer and supplier needs to accommodate all secure, digital payments includes adding interoperability with partner networks," said Rob Eberle, CEO of Bottomline. "By offering new card acceptance points via BPN, we broaden the Paymode-X network and further empower customers on their accounts payable automation journey."

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