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Deutsche Telekom AG : Next step in implementation of payment strategy

08/14/2012 | 04:00am US/Eastern
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  • Wirecard guarantees high standards of quality and security
  • Next step in implementation of Deutsche Telekom's payment strategy

Deutsche Telekom is now working with technology and financial services provider Wirecard AG to implement its payment strategy. As part of this strategic partnership, Wirecard will put in place the technical processes for issuing the Telekom MasterCard and support Deutsche Telekom in processing payments.

"In Wirecard, we have found the best partner for card management and technical processing, taking the next step in creating an ecosystem for anything to do with mobile payment. With the technical implementation of online, store-based and mobile payment in the safe and experienced hands of specialist Wirecard, we can concentrate on our core business," explains Peter Vesco, Senior Vice President, Business Unit Payment at Deutsche Telekom.

The partnership does not only provide the technical basis for the payment card, which will be launched on the German market at the end of the year, but also covers the planned launch of Deutsche Telekom's Mobile Wallet in 2013.

"We are delighted that Deutsche Telekom has opted for a long-term partnership with us. As a technical services provider, we are in an ideal position to provide the necessary processes, such as real-time card creation, payment processing and other additional services for mobile payment," says CEO Markus Braunat Wirecard, and continues: "As an innovative solution provider for the telecommunications industry, we offer a wide range of mobile payment services, including classic and contactless cards, NFC stickers, and real-time provision of virtual cards for NFC-compatible smartphones."

About Deutsche Telekom
Deutsche Telekom is one of the world's leading integrated telecommunications companies with almost 130 million mobile customers, 33 million fixed-network lines and over 17 million broadband lines (as of June 30, 2012). The Group provides products and services for the fixed network, mobile communications, the Internet and IPTV for consumers, and ICT solutions for business customers and corporate customers. Deutsche Telekom is present in around 50 countries and has over 233,000 employees worldwide. The Group generated revenues of EUR 58.7 billion in the 2011 financial year - more than half of it outside Germany (as of December 31, 2011).

About Wirecard
Wirecard AG is one of the leading international providers of electronic payment and risk management solutions. Worldwide, the Wirecard Group supports over 13,000 companies from a wide range of industry segments in automating their payment processes and minimizing cases of default. Wirecard Bank AG is a Principal Member of Visa, MasterCard and JCB and operates as a credit card acquirer in 69 countries around the world, involving over 100 transaction currencies and 18 payout currencies. Part of the Wirecard Group, Wirecard Bank provides innovative solutions in the fields of corporate banking, prepaid and co-branded cards, along with account products for both business and private customers.
Wirecard AG is listed on the Frankfurt Securities Exchange (TecDAX, ISIN DE0007472060, WDI).
www.wirecard.com | www.wirecardbank.com | www.mywirecard.com

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