Deutsche Bank invests in Australian paytech DataMesh
Deutsche Bank has acquired a strategic stake in Australian paytech DataMesh Group to accelerate the buildup and service offering of the bank’s merchant solutions business across Asia Pacific. Deutsche Bank and DataMesh did not disclose financial terms of the transaction.
With DataMesh’s Unify payment orchestration layer, Deutsche Bank can operate seamlessly with individual acquirers in different countries, enabling merchants to accept payments through online methods within individually regulated currency zones. DataMesh consolidates the payment data cross border and enables Deutsche Bank clients to centrally control their payments across these currency borders and different jurisdictions. The APAC region combines more than 10 currencies and more than 40 different payment methods.
DataMesh is the perfect fit for Deutsche Bank’s Merchant Solutions APAC initiative. Its revolutionary payment orchestration layer enables us to offer a comprehensive payment solution for our clients, who demand a global one-stop shop for their payment acceptance in various countries and regions.
“With its investment in DataMesh, Deutsche Bank underpins its ambitions in the region. In a first step, Deutsche Bank is launching the solution in India. Over the course of 2023, the bank will be able to offer online payment acceptance in five more markets (Australia, South Korea, Thailand, Indonesia and Vietnam) as part of its broader international rollout of the strategy” added Matthiessen.
Mark Nagy CEO of DataMesh said: “DataMesh assists banks to significantly enhance their merchant solutions capabilities. Given Deutsche Bank’s position as a true ‘Global Hausbank’, they are perfect partner to enable DataMesh’s international expansion plans. We are delighted to also welcome Deutsche Bank as a shareholder.”
The APAC region accounts for over half of global payments revenues and the strong growth is expected to continue in the coming years. The variety of local currencies and payment methods creates opportunities for payment solutions to capture untapped potential and underserved populations (The 2022 McKinsey Global Payments Report).
For further information please contact:
Deutsche Bank AG
About Deutsche Bank
Deutsche Bank provides 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. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
About DataMesh Group
DataMesh Group is an Australian based technology company with deep payments experience that has been focussed on revolutionising the current payment systems available to banks, acquirers, and merchants across the globe. DataMesh delivers next generation, fully integrated payment capabilities as well as a suite of unique, valuable customer insights and integration tools through its proprietary EMV compliant financial switching platform. Unify is the world’s most modern and powerful cloud and terrestrial-based financial switching solution available in the market today. The company has commenced its global roll out of its platform, creating a world-wide, interconnected network of processing capabilities that will be offered as under an own or SAAS model. The systems are fully certified and PCI compliant.