B2B Payments

Amazon Business Payments Eyed With Giromatch, Degussa Bank Collab

Germany’s Degussa Bank and FinTech Giromatch are teaming up to help businesses procure via Amazon Business and manage cash flow.

An announcement last week said corporate customers of Degussa will be linked to a virtual card they can use to make purchases off Amazon Business. Giromatch will integrate its “digital account view” capabilities for Degussa via application programming interface (API), enabling the bank to make faster business loan decisions with access to transaction data.

“Giromatch is specialized in digital credit solutions and automated customer onboarding,” said Robin Buschmann, founder and managing director of Giromatch. “We have been able to create an optimally coordinated process on a green field, an advantage which banks can hardly imitate.”

“In our pilot project, Giromatch takes on tasks which require fast and continuous amendments,” added Degussa’s Head of Card Business Advisory & Services Silke-Christina Kummer in another statement. “Furthermore, a small and agile company like Giromatch works in a very efficient manner. This is for the benefit of all our customers.”

Amazon Business recently expanded throughout Europe after initially launching in the U.K. and Germany. The platform announced its rollout in France earlier this month.

“The launch of Amazon Business on amazon.fr enables multinational businesses with entities in Europe to continue to streamline their purchasing, whilst also providing new exporting opportunities for smaller U.K. businesses who sell on the Amazon Business Marketplace,” stated Amazon.co.uk Head of Amazon Business Bill Burkland at the time.

Degussa has inked partnerships with other B2B FinTechs in the past: Last year, the financial institution announced a renewal of its partnership with TSYS to provide financial products and services to corporate clients of the bank.



The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.