German payment provider Wirecard enters global partnership ......BERLIN, Sept. 16 (Xinhua) -- German...
3
Tuesday, September 17, 2019 Editions German payment provider Wirecard enters global partnership with China's UnionPay Source: Xinhua | 2019-09-17 00:36:05 | Editor: Mu Xuequan BERLIN, Sept. 16 (Xinhua) -- German payments company Wirecard has signed a memorandum of understanding (MoU) with UnionPay, the world's largest credit and debit card scheme, to "form a global strategic partnership," Wirecard announced on Monday. The cooperation of the two financial service companies is set to "expand the global acceptance of UnionPay as a digital payment method across all channels," according to Wirecard. "As the world's largest card scheme in terms of card issuance, UnionPay will be one of our key alliances in Asia," said Georg von Waldenfels, executive vice president of Wirecard's business development division. According to the Nilson Report, a U.S. publication that tracks the global credit card industry, UnionPay has issued a total of 7.59 billion payment cards, accounting for 57.6 percent of all cards in circulation worldwide. Wirecard announced that the partnership was envisaging a number of projects, such as payout products, fast digital payment services for businesses as well as consumer-oriented products like digital wallets for tourists in China. In a first step, Wirecard and UnionPay are planning to launch additional projects in markets where the two companies already work together, such as in the Asia-Pacific region, Europe as well as the United States, according to Wirecard. "Through our global strategic partnership with Wirecard, we plan to continue driving our international expansion forward," noted Larry Wang, vice president at UnionPay International. Xi goes to central China on inspection tour China sees 105 mln tourists during Mid- Autumn Festival holiday "Xinjiang Day" event held at Beijing horticultural expo In pics: 2019 China Cybersecurity Week expo Lithuanian SoapBox Race 2019 held in Kaunas TOP STORIES EDITOR’S CHOICE / 01. Across China: China's 70-year memories sealed in old photos / 02. China launches dental examinations for giant pandas / 03. New school year begins in Albania / 04. Over 1,100 new graduates join Afghan national army / 05. Iran to release seized British oil tanker MOST VIEWED Europe China-Europe Opinion Window of China Latest Photos Video Home China World Asia & Pacific Europe Africa North America More ∨
Transcript of German payment provider Wirecard enters global partnership ......BERLIN, Sept. 16 (Xinhua) -- German...
Tuesday, September 17, 2019
Editions
German payment provider Wirecard entersglobal partnership with China's UnionPaySource: Xinhua | 2019-09-17 00:36:05 | Editor: Mu Xuequan
BERLIN, Sept. 16 (Xinhua) -- German payments company Wirecard has signed amemorandum of understanding (MoU) with UnionPay, the world's largest credit and debitcard scheme, to "form a global strategic partnership," Wirecard announced on Monday.
The cooperation of the two financial service companies is set to "expand the globalacceptance of UnionPay as a digital payment method across all channels," according toWirecard.
"As the world's largest card scheme in terms of card issuance, UnionPay will be one of ourkey alliances in Asia," said Georg von Waldenfels, executive vice president of Wirecard'sbusiness development division.
According to the Nilson Report, a U.S. publication that tracks the global credit card industry,UnionPay has issued a total of 7.59 billion payment cards, accounting for 57.6 percent of allcards in circulation worldwide.
Wirecard announced that the partnership was envisaging a number of projects, such aspayout products, fast digital payment services for businesses as well as consumer-orientedproducts like digital wallets for tourists in China.
In a first step, Wirecard and UnionPay are planning to launch additional projects in marketswhere the two companies already work together, such as in the Asia-Pacific region, Europeas well as the United States, according to Wirecard.
"Through our global strategic partnership with Wirecard, we plan to continue driving ourinternational expansion forward," noted Larry Wang, vice president at UnionPayInternational.
Xi goes to centralChina on inspectiontour
China sees 105 mlntourists during Mid-Autumn Festivalholiday
"Xinjiang Day"event held at Beijinghorticultural expo
In pics: 2019 ChinaCybersecurity Weekexpo
Lithuanian SoapBoxRace 2019 held inKaunas
TOP STORIES
EDITOR’S CHOICE/ 01. Across China: China's 70-yearmemories sealed in old photos
/ 02. China launches dental examinationsfor giant pandas
/ 03. New school year begins in Albania
/ 04. Over 1,100 new graduates join Afghannational army
/ 05. Iran to release seized British oil tanker
MOST VIEWED
Europe China-Europe Opinion Window of China Latest Photos Video
Home China World Asia & Pacific Europe Africa North America More ∨∨
News Regions Services More
Ningbo starts new roundof fishing season
Yuan Longping attendsopening ceremony ofHunan AgriculturalUniversity
2019 FIVB Women'sWorld Cup: China vs.Russia
Highlights of pet dogcompetition in SanFrancisco, U.S.
Goodwood Revival 2019held in Britain
Xinhua photos of the day
Especially the "point of sale and issuing solutions" are set to merge with the existing onlinepayment businesses of the two companies, Wirecard stated.
In addition, the cooperation is set to establish a "consumer solution" for the upcoming 2022Winter Olympics in China's capital Beijing, which should "take advantage of the largenumber of tourist who will visit the country," according to Wirecard.
"As a major tourist and business destination, China receives hundreds of millions oftravelers every year, which means that the scope of our solutions will also address non-Chinese nationals and enable them to pay with UnionPay nationwide," von Waldenfelsnoted.
In the wake of the announcement, Wirecard shares shot up by more than 1 percent andwere on top of Germany's benchmark DAX stock index midday on Monday local time.
YOU MAY LIKE
MORE PHOTOS
People attendBalloon's DayParade of 2019Brussels ComicStrip Festival
Sivrihisar Airshow2019 kicks off inTurkey
Aerial view ofNanning, S China'sGuangxi
EXPLOREXINHUANET
China
World
Business
Culture Edu
Sports
Sci Tech
Health
Entertainment
Asia & Pacific
Americas
Europe
Africa
Organizations
North America
Investment
Doing Business
Work in China
Study in China
Visit in China
Live in China
Emergency
Weather
Photos
Video
In-depth
Special Reports
Corrections
Copyright © 2000-2019 XINHUANET.com All rights reserved.
