Wirecard and Spendit digitize benefit card solutions for employees across Europe

Aschheim (Munich) (ots) -

- Wirecard to issue the SpenditCard, Germany's first regulated credit
card program for employee benefits
- Expanded cooperation capitalizes on the sustained global trend in
the area of employer offers

Wirecard, the global innovation leader for digital financial
technology, along with Spendit AG, a multi-award-winning HR and
FinTech company, are expanding their long-term cooperation and are
set to develop digital solutions in the area of employee benefits for
the whole of Europe. With immediate effect, the SpenditCard, a
digital voucher for tax-free benefits in kind, offered by Spendit
since 2014 as Mastercard's preferred partner, will be issued by
Wirecard. It is the first regulated credit card program based in
Germany and already has over 4,000 corporate customers. There are
plans for it to be further developed to include new functions and
cover new countries in the near future.

Wirecard is applying its global expertise in the area of employee
benefit solutions. This can be seen in the USA, for example, where
Wirecard has already been providing large businesses with benefit
products for many years: Millions of consumers make use of the
solution's advantages on a regular basis, with the number of cards
issued rising by a compounded average of 75% per year. At the same
time, expenditure using employee benefit cards is rising by around
45% on average.

Catharina Tiede, Head of Partner Management at Wirecard, says:
"With the SpenditCard, we are setting new standards in the
digitization of benefit programs. This partnership is an exciting
opportunity to promote the use of consumer cards as a corporate
incentive. We are delighted that, together with Spendit, we will soon
be digitizing employee programs across Europe."

Florian Gottschaller, founder and CEO of Spendit, explains: "We
are proud to have exceeded expectations and grown our customer base
to over 4,000. With a strong partner in the form of Wirecard, we can
look forward to further increasing our customer numbers and to
tapping into additional European markets." He adds: "As the market
leader, Wirecard is the ideal strategic partner for Spendit because
it shares our vision of developing innovative products for global
employers and continuing to drive forward the digitization of benefit
products."

The SpenditCard is like a universal voucher that can be used
worldwide. Businesses can use the card to give their employees a wide
range of tax-free fringe benefits as a modern alternative to petrol
and gift vouchers on a prepaid card, which can be used by employees
without restriction in the Mastercard network across the world. The