Deutsche Bank launches payments platform through 2C2P in Thailand
Asian markets are in focus as an untapped market for commercial payment companies and banks. Institutions are taking advantage of this and trying to launch products and services in order to gain market share.
This week, Deutsche Bank has launched a payments platform in Thailand for its corporate clients via 2C2P. 2C2P is a payments platform provider in Southeast Asia on online, mobile and offline channels also providing issuing, payout, remittance and digital goods services.
The bank had launched the FX platform in Sri Lanka last year, partnered with Airwallex for virtual account collection in Japan, launched PromptPay in Thailand and started clearing corporate payments in Malaysia using DuitNow.
“This platform addresses emerging client needs in the rapidly changing payment landscape in Thailand and we are confident that by making this new collection tool available to our clients, they will see the direct benefits, notably by being able to boost their business performance through a direct sales model,” said Chintan Shah, APAC Head of Corporate Cash Management at Deutsche Bank.
According to the press release, through the 2C2P network, Deutsche Bank’s corporate clients in Thailand would be able to “maximise their business potential by collecting funds more efficiently and conveniently through an extensive range of online banking and non-banking channels” which would include online and mobile banking, ATM, mobile payments wallets such as True Money, LINE Pay, Alipay, WeChat Pay and PromptPay. The clients can also use 2C2P’s payment functions such as instalment payments, recurring payments and multi-currency converters.
Once the payment channel and the medium are selected by the client, the payment order would be securely processed through 2C2P’s network with ‘real-time data available for corporate clients to monitor and perform post-sales activities’.
The press note mentions that 2C2P has a presence of over 400,000 touchpoints across Asia, regional coverage in 10 markets as well as partnerships with over 30 financial institutions worldwide.