NHN KCP said on Jan. 13 it has been selected with German financial institution Deutsche Bank as the official domestic payment service provider for Henkel Consumer Brands Korea.

Under the contract, Deutsche Bank and NHN KCP will provide payment gateway services for a B2B platform operated by Henkel.

The platform is used to order products from Henkel’s key beauty brands, including Shiseido Professional and Schwarzkopf Professional. It supports major online payment methods such as credit cards and bank transfers.

Henkel is a multinational chemicals and consumer goods company founded in Germany in 1876. It owns brands ranging from hair products to laundry detergents, household insecticides and bathroom and kitchen cleaning products, including Persil, Syoss and Bref. It operates in 125 countries worldwide and officially launched its Henkel Consumer Brands division after integrating its consumer goods business in 2022.

NHN KCP and Deutsche Bank have expanded their payment infrastructure for global companies based on a Merchant Solutions partnership. Merchant Solutions refers to providing payment-related functions such as payment authorisation, settlement and security authentication so that companies, as merchants, can process electronic payments.

The cooperation combines Deutsche Bank’s global network with NHN KCP’s electronic payment technology, the companies said. They plan to expand the application of their linked payment solutions beyond Henkel to various companies and domestic and overseas merchant networks.

An NHN KCP official said the selection as Henkel’s official payment service provider was a meaningful result created by combining a global financial network and top-tier domestic electronic payment technology. NHN KCP will provide stable support for Henkel’s growth in the domestic market and the expansion of digital commerce, the official said, adding it will continue to broaden cooperation with global beauty and household goods companies and take the lead in the development and innovation of South Korea’s payment ecosystem.