23 September 2017
Find out more

Deutsche Bank embarks on massive m-payments project; hires ABN Amro's van Wezel

12 March 2009  |  14590 views  |  0 Fingers on smartphone keypad

Deutsche Bank's Global Transaction Banking (GTB) unit has teamed with vendor Luup to offer mobile payments services to banks and corporations in 80 countries across Europe the Middle East and Asia.

The bank says the service will allow its GTB clients to offer millions of consumers an instant and secure payments and money transfer service from any mobile device with any network.

Deutsche claims it is the first major commercial bank to offer a cross-border mobile payments service to its banking and corporate customers.

Daniel Marovitz, global head of products, GTB, Deutsche Bank, says: "Mobile technology moves on apace and we believe that now is the time to take a solution to the global market. Around 61% of the world's population has a mobile phone and the penetration of mobile continues to increase, while the use of cash continues to decline globally."

The deal represents a major victory for Luup which recently scrapped its old business model of offering services directly to merchants and customers in favour of working with banks.

"This is a huge step forward for Luup and the whole mobile payments industry. As well as benefiting consumers, Luup's services benefit financial institutions and corporate clients by opening up new markets, new channels and new revenue streams," says Thomas Bostrøm Jørgensen, chief executive, Luup.

With the GTB unit embarking on a major m-payments project, it has also hired former ABN Amro man Ron van Wezel as global product manager for its emerging payment streams.

Van Wezel will be responsible for mobile and online payments services, as well as other emerging channels.

He joins from ABN Amro's market infrastructures department where he oversaw developments in payments and cards services, focusing on Sepa and its impact on the bank's payment franchise.

Prior to that, he held several management positions at Dutch payment processor and clearing house Interpay (now Equens). He also serves as chairman of Mobey Forum, a cross-industry group for the development of mobile financial services.

Based in Amsterdam, van Wezel will report to Harold Young, Deutsche Bank's global head, payments products, cash management, GTB.
KeywordsPEOPLE

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

M-payments firm Luup dumps customers

M-payments firm Luup dumps customers

11 March 2009  |  12893 views  |  0 comments
Barclaycard and Orange team on contactless m-payments

Barclaycard and Orange team on contactless m-payments

09 March 2009  |  15945 views  |  0 comments
Consumers dialling up mobile payments

Consumers dialling up mobile payments

06 March 2009  |  6055 views  |  0 comments
Zain targets 100 million East Africans with new m-banking service

Zain targets 100 million East Africans with new m-banking service

17 February 2009  |  9838 views  |  0 comments
Deutsche Bank to transform Frankfurt office blocks into 'green' towers

Deutsche Bank to transform Frankfurt office blocks into 'green' towers

12 February 2009  |  9385 views  |  0 comments
Recession to hit mobile remittance market - Juniper

Recession to hit mobile remittance market - Juniper

05 February 2009  |  6403 views  |  0 comments
Mobile banking numbers to hit 150m by 2011 - report

Mobile banking numbers to hit 150m by 2011 - report

14 January 2009  |  7717 views  |  0 comments
Revitalised Mobey Forum adds banks and mobile operators

Revitalised Mobey Forum adds banks and mobile operators

16 April 2007  |  5130 views  |  0 comments
National Bank of Abu Dhabi selects LUUP m-payments service

National Bank of Abu Dhabi selects LUUP m-payments service

23 January 2007  |  7194 views  |  0 comments
LUUP launches m-payments scheme in UK and Germany

LUUP launches m-payments scheme in UK and Germany

04 May 2006  |  8815 views  |  0 comments
More banks join Mobey mobile payments group

More banks join Mobey mobile payments group

25 September 2001  |  5678 views  |  0 comments

Related company news

 

Related company information

ABN Amro

Related blogs

Create a blog about this story (membership required)
visit www.sibos.comvisit www.abe-eba.euvisit www.capgemini.com

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
13206 views comments | 27 tweets | 43 linkedin
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
9406 views comments | 13 tweets | 27 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8532 views comments | 19 tweets | 27 linkedin
SBI Ripple Asia advances on South KoreaSBI Ripple Asia advances on South Korea
8193 views comments | 16 tweets | 1 linkedin
European Commission makes fintech a priority in supervisory shakeupEuropean Commission makes fintech a priori...
7988 views comments | 32 tweets | 45 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job