and cost-efficient payment strategy,” says Victor Winterhalder, Deutsche Bank’s Relationship Manager for Azena. In an extreme scenario, a customer may even stop a purchase if they do not find a payment method that fits their needs. “In any case, this would create a bad user experience,” Winterhalder adds.
Replacing the payment service provider It is for this reason that Azena decided to replace its existing payment service
provider (PSP) in early 2021 and migrate to a new payment platform that Deutsche Bank has developed specifically for digital marketplaces. “Our previous PSP was unable to fulfil
all our requirements,” recalls Staneker. Most importantly, the range of available payment methods was limited. “In the B2B world, it is very common to purchase on account, but this wasn’t supported by our PSP in all countries. However, many of our clients didn’t
Figure 1: Sales via digital marketplaces are set to increase 18%/year 22%/year 15.3 6.1 (40%) 6.9 3.6
2.7 (74%) 0.9 (26%)
2015 4.3 (62%) 2.6 (38%) 9.2 (60%)
Proprietary platform sales
Marketplace platform sales
want to use the methods available, such as credit card payments or PayPal.” The second feature that convinced Azena to shift payment handling to Deutsche Bank was “the geographic reach of the bank”, explains Staneker. The start-up is pursuing an ambitious global growth plan for its marketplace. “As we expand the marketplace internationally, we will require further assistance – for example, when it comes to embedding currency conversion,” says Staneker. “We feel there is strong support from Deutsche Bank at this end too.”
2019 2023E Source: McKinsey Global Payments Map; McKinsey Digital Commerce Benchmark Figure 2: How the new payment process works App Store
Automate the payment process end-to-end So how does the new payment solution that Azena has implemented with Deutsche Bank work? In a nutshell, this is a platform that was developed specifically for digital marketplaces by allowing companies to automate and integrate the entire payment process end-to-end (see Figure 2). In Azena’s app store, users of surveillance cameras can now choose between credit transfers in euro, US dollar or credit card payments when paying for their software purchases – with more options to follow. Customers can potentially buy from multiple app developers in one transaction, thanks to the ’Amazon-like’ check-out process with a single debit for software licences from multiple sellers, explains Matthaeus Sielecki, Cash Management Structuring at Deutsche Bank. This is possible because funds can be split between different merchants, with charges and marketplace commissions also being deducted in the pay-out process. Azena also benefits from an automated matching of incoming payments to the respective orders, “which makes reconciliation more efficient on our end as well as providing the basis for further internal process automation,” explains Jörg Halder, a consultant at Bosch and IT Manager for Azena’s payment project. Deutsche Bank also takes care of regulatory responsibilities such as
Security camera users (buyers)
App Software developers (sellers)
Pays total amount of multi-seller basket
Pays out commission fee
Pays out net amount to sellers
We didn’t simulate in a sandbox, but tested on the live system Jörg Halder, IT Project Manager at Azena
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