www.db.com - Deutsche Bank partners with Luup International to shape the future of mobile payments

Deutsche Bank partners with Luup International to shape the future of mobile payments

Deutsche Bank’s Global Transaction Banking (GTB) division, one of the leaders in payments clearing and settlement across all major currencies, is introducing mobile phone payments services to its clients in 80 countries across Europe, Middle East and Asia. Luup, a European-based mobile payment provider with a global footprint, will partner with Deutsche Bank to provide the service.

This new mobile payment service will allow the Bank’s GTB clients to offer millions of consumers an instant and secure payments and money transfer service from any mobile device with any mobile network. The global mobile money transfer market is projected to reach US$ 21 billion by 2011*.

It is the first time a major commercial bank has offered a cross-border mobile payments service to its banking and corporate customers. Deutsche Bank GTB has chosen to partner with Luup because of its proven technology and experience, strong organization and focus on compliance.

Daniel Marovitz, Global Head of Products at Deutsche Bank’s Global Transaction Banking division said: “Mobile technology moves on apace and we believe that now is the time to take a solution to the global market. Around 61 per cent** 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. Investing in technology and focusing on making banking and payments easier for clients and their customers is at the core of what we do.”

Thomas Bostrøm Jørgensen, Chief Executive of Luup, said: “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. Not only will mobile payments offer a new, convenient channel for existing customers of banks, the technology will also provide access to the 3 billion strong global unbanked population***.”

*KPMG
**International Telecommunication Union’s ICT Development Index, March 2009
***World Business Council for Sustainable Development’s Doing Business with the World, September 2007

For further information:

Deutsche Bank

Bradley Lonnen
Tel: +49 69 910 43089
Email: bradley.lonnen@db.com

LUUP

Hannily Pavey
Tel: +44 207 294 3619
Email: hannilyp@lansons.com

Shirley Hatherton
Tel: +44 207 294 3615
Email: shirleyh@lansons.com

For further information on Luup International go to: www.luup.com

Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 80,456 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

The Bank is a leading institution in the global payments industry, being one of the top five payment providers in the world. It is also the number one Euro clearer and top five dollar clearer. Its Global Transaction Banking division covers Deutsche Bank’s trade finance, cash management and trust & securities services businesses servicing both financial institutions and corporate clients. Its products and services include domestic and cross-border payments, professional risk mitigation for international trade and the provision of trust, agency, depositary, custody and related services.

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