Wirecard and Visa have signed a partnership agreement to collaborate on new products in the field of digital financial technology, according to a press release.
Wirecard said in the release that combining its digital payment platform with Visa's global capabilities will enable the company to "extend card issuance, increase merchant acceptance of innovative digital payment methods and provide retailers with business analytics to help them streamline and improve the consumer purchase experience."
Additionally, partnership with Visa will enable Wirecard to further support fintechs and startups to develop new commerce ideas through white-label products and banking as a platform, the release said.
"This is an exciting time for the global payments industry with new payment innovators accelerating the creation of new ways to pay and be paid," said Suzan Kereere, head of merchant services for Visa Europe. "We fundamentally believe this is good for consumers and good for merchants. Together with Wirecard, we have the opportunity to making it easier for merchants and startups to access Visa's capabilities, and support the next generation of payment services."
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