Deutsche Bank, 2C2P Roll Out Collections System In Thailand

Deutsche Bank has introduced a modern payment system for its Thailand customers to support local collections via 2C2P, a payments platform provider in Southeast Asia. 2C2P is based in both Bangkok and Singapore and operates throughout Asia, the United States and Europe, according to a Thursday (Feb. 18) announcement.

“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…” Chintan Shah, APAC head of corporate cash management at Deutsche Bank, said in the announcement.

Deutsche’s business customers in Thailand can get paid via a host of digital banking and non-banking channels via 2C2P’s platform, in addition to choices like PromptPay, WeChat Pay, Alipay, LINE Pay and True Money.

Moreover, Deutsche’s business customers can utilize payment functionalities from 2C2P like multi-currency converters to meet the requirements of their business models. After a preferred payment channel is chosen, payment orders will be processed through 2C2P’s system with live data available for business clients. When the process is finished, the money will be directly auto-credited to a Deutsche Bank account. In addition, the bank’s business customers will be able to use other offerings from 2C2P such as card and wallet issuing, in addition to aggregation of digital bills.

“We are confident that our payments expertise and tools will enable businesses to make smarter and quicker decisions as they transition to an online and mobile-first environment,” 2C2P Thailand Chief Executive Piyachart Ratanaprasartporn said in the announcement.

In separate news, Deutsche Bank opened a new cash management business in Australia late last year. Peter Connor, Australia’s head of corporate banking, spoke positively of the effect that the cash management business will have in totality. “Cash management will expand our footprint by servicing a larger set of our multi-national corporates,” Connor in a past press release.