Core Insights - Deutsche Bank and Mastercard have partnered to enable merchants in Europe to offer pay-by-bank functionality, enhancing the payment experience for customers [1] - The partnership aims to deliver innovative merchant solutions that cater to the needs of a digital-first economy, focusing on security, speed, and scalability [2] - The integration of Mastercard's open banking technology will facilitate faster settlement, improved reconciliation, and greater payment transparency [2] Group 1: Partnership Details - The collaboration allows merchants to utilize Deutsche Bank's Request to Pay (R2P) service, enabling consumers to authorize payments directly from their bank accounts with immediate confirmation [3] - The partnership combines Mastercard's open banking payments technology with Deutsche Bank's expertise and extensive merchant base across Europe, promoting account-based payments as a new standard [4] Group 2: Market Trends - Open banking has significantly transformed the payments landscape over the past seven years, with a notable increase in account-to-account payments [5] - In the United States, 46% of consumers express a high willingness to use open banking payments, although only 11% have actually adopted this method, with millennials showing the highest interest at 66% [5] - Mastercard reported that 76% of its customers connect their financial accounts, and 93% prioritize control over their financial data usage [6]