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Wirecard and UnionPay, the world's largest card scheme, sign MoU to form expanded global strategic partnership

Nachrichtenagentur: news aktuell
16.09.2019, 09:40  |  273   |   |   
Aschheim (München) (ots) -

- UnionPay leads the global card scheme market, having issued 57.6%
of the world's payment cards in circulation
- Partnership aims to support Wirecard's growth in China
- Scope includes expanding global acceptance of UnionPay and
developing joint digital payment solutions

Aschheim (Munich). Wirecard, the global innovation leader for
digital financial technology, has signed an MoU with UnionPay, the
world's largest card scheme, to form a global strategic partnership.
The agreement will support UnionPay's ongoing international expansion
and Wirecard's growth in China and with Chinese businesses.

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With over 7.59 billion cards issued under its brand, amounting to
57.6% of the world's payment cards in circulation according to the
Nilson Report, UnionPay leads the global card scheme market, and is
an association for China's banking card industry. The cooperation
between Wirecard and UnionPay will focus on expanding the global
acceptance of UnionPay as a digital payment method across all
channels. In addition, the partnership will also launch a number of
issuing projects, including corporate solutions such as payout
products and SCP (Supplier and Commission Payments), and
consumer-oriented products in the form of digital wallets for
incoming tourists to China.

"As the world's largest card scheme in terms of card issuance,
UnionPay will be one of our key alliances in Asia," commented Georg
von Waldenfels, EVP Group Business Development at Wirecard. "We're
excited about the immense potential this partnership creates for both
entities, and to deliver innovative solutions for current and future
UnionPay cardholders globally. As a major tourist and business
destination, China receives hundreds of millions of travelers every
year, which means that the scope of our solutions will also address
non-Chinese nationals and enable them to pay with UnionPay
nationwide."

"Through our global strategic partnership with Wirecard, we plan
to continue driving our international expansion forward," added Larry
Wang, Vice President at UnionPay International. "We are proud to have
an experienced partner in digital financial technology and global
payments by our side to provide an even wider range of innovative
solutions for UnionPay customers. We look forward to launching our
partnership with Wirecard."

The initial stage of the partnership will focus on launching
additional projects in Asia-Pacific, Europe and the US, where both
partners already work together for several years. Especially point of
sale and issuing solutions will merge with the existing online
payment business. Additionally, a consumer solution for the upcoming
2022 Winter Olympics in Beijing is being planned to take advantage of
the large number of tourists who will visit the country.

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
concentrates on the areas payment & risk, retail & transaction
banking, loyalty & couponing, data analytics & conversion rate
enhancement in all sales channels (online, mobile, ePOS). Wirecard
operates regulated financial institutions in several key markets and
holds issuing and acquiring licenses from all major payment and card
networks. Wirecard AG is listed on the Frankfurt Stock Exchange (DAX
and TecDAX, ISIN DE0007472060). Visit us on www.wirecard.com, follow
us on Twitter @wirecard and on Facebook @wirecardgroup.

About UnionPay:

China UnionPay (CUP) is a bankcard association founded in 2002 in
Shanghai, China, with an aim to facilitate interbank transactions in
the Chinese Mainland. So far, all POS and ATM terminals of all the
banks in mainland China are connected to the UnionPay network.
UnionPay International (UPI) is a subsidiary of CUP focused on the
growth and support of UnionPay's global business. In partnership with
more than 2,000 institutions worldwide, UPI has enabled card
acceptance in 174 countries and regions with issuance in 56 countries
and regions. UPI provides quality, cost-effective and secure
cross-border payment services to the world's largest cardholder base
and ensures convenient local services to a growing number of global
UnionPay cardholders and merchants.

Originaltext: Wirecard AG
digital press kits: http://www.presseportal.de/nr/15202
press kits via RSS: http://www.presseportal.de/rss/pm_15202.rss2
ISIN: DE0007472060

Wirecard contact:

Wirecard AG
Iris Stöckl
VP Corp. Comm./IR
Tel.: +49 (0) 89-4424-1424
Email: iris.stoeckl@wirecard.com
http://www.wirecard.de
ISIN DE0007472060
Reuters: WDI.GDE
Bloomberg: WDI GY

UnionPay contact:

UPIPR
Tel.: +86 (0) 21 2026 5843
Email: UPIPR@unionpayintl.com
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