Deutsche Bank and Mastercard announced a strategic partnership designed to accelerate the evolution of open banking and redefine the payment experience for merchants and consumers across Europe. The collaboration will elevate Deutsche Bank’s Merchant Solutions offering, particularly its Request to Pay (R2P) service, by introducing new levels of choice, flexibility, and efficiency with account-to-account based payments on Mastercard’s trusted open banking network. This partnership positions Deutsche Bank and Mastercard at the forefront of payment innovation enabling merchants to offer “Pay by Bank” functionality through Deutsche Bank’s Merchant Solutions. The partnership empowers merchants to leverage R2P as a preferred payment method giving consumers the ability to authorize payments directly from their bank accounts with real-time processing and immediate confirmation. Mastercard’s open banking technology will be fully integrated into Deutsche Bank’s platform, supporting faster settlement, enhanced reconciliation, and greater payment transparency.