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Wirecard and Ctrip, China's largest travel company, launch multi-currency Visa travel cards

Nachrichtenagentur: news aktuell
07.01.2019, 09:40  |  336   |   |   
Aschheim (Munich) (ots) -

- The Ctrip branded Visa cards will be issued by Wirecard, and
offered to all Chinese Ctrip customers
- Ctrip has 110 million active monthly users in China
- Cards can be loaded with seven different currencies, eliminating
need to convert currency abroad
- Need for cash while traveling is reduced, furthering the trend of
digital cashless payments

Wirecard, the global innovation leader for digital financial
technology, and Ctrip, the largest online travel agent in China,
today announced the launch of multi-currency Visa cards, which
support seven of the most widely-used currencies, eliminating the
need to exchange currency abroad and travel with excessive amounts of
cash on hand. The Ctrip branded Visa cards will be issued by
Wirecard, and offered to all Chinese Ctrip customers. Ctrip currently
has 110 million active monthly users in China.

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Ctrip, a NASDAQ listed company and owner of multiple travel sites
including Skyscanner, connects customers to hotels, transportation
providers, and tour services around the world. The cooperation with
Wirecard will facilitate digital cashless payments abroad for Chinese
customers: the card is convenient, easy to use, and accepted
worldwide. In addition, the card supports currencies from the
most-visited regions of the world: Australia, Hong Kong, Japan,
Singapore, the UK, US and the Eurozone. The card is available to
Ctrip customers who are Chinese citizens.

The launch comes at an opportune time, as the rate of
international travel increases among Chinese citizens. According to
statistics from the China National Tourism Administration, Chinese
travelers made about 131 million international trips in 2017, with
that number expected to increase to 200 million by 2020. In addition,
a study by Nielsen and Alipay found that Chinese tourists exhibit
strong purchasing power, spending the most firstly on shopping,
followed by accommodation, and lastly dining. Based on these trends,
the multi-currency Visa prepaid card presents an innovative and smart
solution that meets the demands of international travelers.

"As a traveler, it is essential that you are able to pay in a way
that is convenient, secure, and widely-accepted," said Zhengmao Hu,
VP at Ctrip. "And it is for this reason that we are confident that
our solution with Wirecard will be a welcome innovation for the
millions of Chinese tourists who enjoy international travel.
Wirecard's expertise in digital multi-currency payments was
instrumental in bringing this innovation to life, which we are now
proud to add to our portfolio."

"We are thrilled to be partnering with one of the world's largest
online travel agents, and to be bringing our multi-currency payment
solution to a fast growing market segment in China," said Arne
Matthias, EVP Issuing at Wirecard. "Developing this tailored solution
to the needs of Chinese Ctrip customers shows our large opportunities
as the leading provider of digital financial technology. We look
forward to expanding our partnership with Ctrip to further develop
innovative and cutting edge payment solutions."

"Multi-currency Visa cards give consumers a convenient, secure way
to pay whenever they travel, with the added benefits of certainty of
exchange rates and breadth of acceptance that Visa provides," said
Hamish Moline, Head of Digital Partnerships, Asia Pacific, Visa. "We
are excited for Ctrip customers to have this new Visa payment option
in partnership with Wirecard."

About Wirecard:

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
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