ASCHHEIM, Germany, November 16, 2018
ASCHHEIM, Germany, November 16, 2018 /PRNewswire/ --
Wirecard, the global innovation leader in digital financial technology, and Mastercard, the global payments technology company, signed a strategic agreement to migrate their global issuing business. Wirecard will support Mastercard Prepaid Management Services (Prepaid Services), a leader in prepaid program management, with its long-standing expertise in global issuing services.
The strategic partnership will empower both companies to exploit the growth potential in the field of digital prepaid payment solutions. Together their existing and new prepaid solutions will deliver further payment choice to a broader audience, including: travel agencies and airlines for their customer holiday travel money, compensation or staff expenditure; governments looking for ways to disperse funds and benefits; and SMEs' controlled payment functionality for employees.
Susanne Steidl, CPO at Wirecard, said, "As the leading innovation driver of digital financial technology, we are proud to announce the extension of our global strategic cooperation with Mastercard. Our ambition within this cooperation is to shape the future of the international payment market with tailor-made solutions for the specific industries. Mobile apps are set to become the payment solution of choice worldwide and we are already enabling this kind of technology today, often based on digital prepaid cards."
Fabrizio Burlando, President at Mastercard Prepaid Management Services, said, "As consumers, businesses and governments come to terms with the limitations and cost of cash, our focus is on providing real payment choice and convenience to audiences who have not been well serviced for their payment needs, and often resorted to using cash by default. To support our initiatives, we will leverage Wirecard's long-standing expertise and international market knowledge in issuing services."
The new partnership will drive the trend of the global cashless society via the issuance of prepaid cards and card programs. Prepaid Services have more than 20,000 selling locations with active programs in 23 countries worldwide. As a leading international player in the field of digital financial technology, Wirecard will support Prepaid Services with its global licensing footprint and expertise in issuing services. As a result of the partnership, consumers, businesses and organizations will be able to benefit from their prepaid solutions.
Wirecard (GER: WDI) is one of the world's fastest growing digital platforms in the area of financial commerce. We provide both business customers and consumers with a constantly expanding ecosystem of real-time value-added services built around innovative digital payments by using an integrated B2B2C approach. This ecosystem concentrates on the areas payment & risk, retail & transaction banking, loyalty & couponing, data analytics & conversion rate enhancement in all sales channels (online, mobile, ePOS). Wirecard operates regulated financial institutions in several key markets, holds issuing and acquiring licenses from all major payment and card networks. Wirecard AG is listed on the Frankfurt Stock Exchange (DAX and TecDAX, ISIN DE0007472060). Visit us on http://www.wirecard.com, follow us on Twitter @wirecard and on Facebook @wirecardgroup.
Mastercard (NYSE: MA), http://www.mastercard.com, is a technology company in the global payments industry. We operate the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
Wirecard media contact:
Mastercard media contact:
Head of Communications
Mastercard UK, Ireland, Nordics and Baltics
Head of Communications
Mastercard Germany and Switzerland