Wirecard and Visa enter into strategic FinTech agreement
Retailers to benefit from analytics tools, FinTechs from a joint platform
Wirecard, the global innovation leader in digital financial technology, and Visa, the global leader in payments, announced today that they have signed a partnership agreement to collaborate on new solutions in the field of digital financial technology.
Combining Visa’s global capabilities with Wirecard’s digital payment platform lays the foundations for Wirecard to extend card issuance, increase merchant acceptance of innovative digital payment methods, and provide retailers with business analytics to help them streamline and improve the consumer purchase experience. In partnership with Visa, Wirecard will be able to further support FinTechs and start-ups to develop new commerce ideas through white label solutions and banking as a platform.
“This is an exciting time for the global payments industry with new payment innovators accelerating the creation of new ways to pay and be paid. We fundamentally believe this is good for consumers and good for merchants”, said Suzan Kereere, Head of Merchant Services for Visa in Europe. “Together with Wirecard we have the opportunity to making it easier for merchants and start-ups to access Visa’s capabilities, and support the next generation of payment services.”
Susanne Steidl (pictured), Chief Product Officer at Wirecard, adds: “We are delighted to announce our extended global strategic cooperation with Visa. Our aim is to shape the international digital payment market with innovative value-added solutions, all through one platform."
Last year, Wirecard purchased all outstanding shares of Cape Town-based payment service provider MyGate Communications for 23 million euros.