Deutsche Bank launches Deutsche Card Services

Deutsche Bank’s global transaction banking business has extended its leading cash management product range into the merchant acquiring business, providing credit/debit card clearing and settlement solutions throughout Europe. Deutsche Card Services, a subsidiary of Deutsche Bank, will manage the new business line that adds another feature to Deutsche Bank’s suite of receivables products for its global client base. Deutsche Card Services will be launched on the basis of the reliable platform of Pago eTransaction Services. Pago, a joint venture of Deutsche Bank and Beisheim Holding Schweiz (BHS), focuses on card-based online payments, offering systems for the processing of electronic payments to companies in the e-commerce sector, mail order business as well as brick-and-mortar retailing. Werner Steinmueller, head of global transaction banking, said: “Deutsche Bank has already contributed to and supported the process of introducing SEPA. With Deutsche Card Services, we are now addressing the growing demand for pan-European solutions in the cards area.”


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