Deutsche Financial institution and Mastercard are intensifying their cooperation on funds from Reuters

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© Reuters. FILE PHOTO: Illustrative photo of a Mastercard logo on a credit card

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FRANKFURT (Reuters) – Deutsche Bank (DE 🙂 and Mastercard (NYSE 🙂 said on Wednesday that they would intensify their cooperation as the German lender seeks a larger share of the payment business.

The partnership will try to jointly develop digital payment solutions for companies.

McKinsey and Capgemini predict growth in digital payments revenue and transactions, and Deutsche Bank hopes the segment will generate additional revenue to further reduce costs.

“The coronavirus pandemic has resulted in an exponential increase in corporate demand for digital payment solutions,” said Ole Matthiessen, global head of cash management at Deutsche Bank.

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