Wirecard Expands Cooperation With KaDeWe Group, Operator of Germany's Most Famous Department Stores, to Enable all Digital In-store Payments

- Wirecard will now handle the entire payment process at the POS after successfully integrating Chinese payment methods for KaDeWe Group stores in 2018

- KaDeWe Group operates German luxury department stores KaDeWe, Alsterhaus, and Oberpollinger

- The revenue of the KaDeWe Group amounted to EUR 600 million in 2018, with the majority being cashless

ASCHHEIM, Germany, June 17, 2019 /PRNewswire/ --Wirecard, the global innovation leader for digital financial technology, is expanding its cooperation with KaDeWe Group, operator of Germany's most famous department stores for luxury products. After successfully integrating Chinese mobile payment methods for the group stores in 2018, Wirecard will now handle all cashless payments.

KaDeWe Group is comprised of three stores: The KaDeWe in Berlin, one of the largest and most renowned department stores worldwide, the Alsterhaus in Hamburg and the Oberpollinger in Munich. KaDeWe alone welcomes over 50,000 customers every day and is today both a shopping destination and a tourist attraction for local and international customers.

The Wirecard digital financial commerce platform provides retailers such as KaDeWe Group with access to the complete Wirecard ecosystem including value-added services such as data analytics, all of which contribute to improving the customer journey and enable a holistic Unified Commerce.

In the German retail trade sector, revenues are constantly rising each year. By 2022, the revenue is projected to increase to EUR 666 billion. As Europe's largest economy and one of the region's most populated countries, Germany is an attractive market for retailers. The KaDeWe Group, an important player in the German premium brand sector, recorded a further increase in non-cash sales in 2018. Since the integration of mobile payment options, such as Alipay and WeChat Pay, and respective marketing activities, the company has been able to generate further growth last year thanks to Wirecard's support for Chinese customers.

"We are excited to expand our cooperation with Wirecard and continue offering fast and easy payments for all of our customers," said Dr. Michael Peterseim, CFO of the KaDeWe Group. "As operator of Germany's most well-known department stores, it is essential for us to deliver the best possible customer experience to each individual guest, and we are happy to have a knowledgeable and experienced partner like Wirecard by our side."