Wirecard will contribute to develop tokenized mobile payments in Romania by commercializing Visa's Digital Commerce App

Aschheim (Munich)/Bucharest (ots) - Wirecard, the global leader in
digital finance innovation, announced today that it signed an
extension of the strategic partnership agreement with Visa aimed at
developing tokenized mobile payments in Romania.

The partnership allows Wirecard to undertake commercialization
efforts in Romania for Visa Digital Commerce App (VDCA). The Visa
Digital Commerce App is a white-label digital wallet helping banks
and other card issuers to offer mobile contactless payment solutions
along with value added services such as offering card controls,
mobile location confirmation, travel and account balance
notifications, and a transaction history to end consumers while
saving time and money developing their own applications.

Wirecard, also became the first payments processor in Romania that
successfully completed the certification for Visa Token Service (VTS)
- a technology that replaces sensitive cardholder information with a
unique digital identifier, thus enabling easy and secure contactless
payment with virtual cards as cardholder information is never shared
with third parties.

"In today's world, payments must be quick, safe, simple and
omnichannel. Switching from classic cards to mobile payment occurs at
a high pace, both globally and in Romania. The VDCA solution that
Visa and Wirecard offers to the Romanian market is a perfect answer
to this trend and we are delighted to digitize processes together.
The solution is easy to integrate into payment ecosystems, VDCA is a
powerful tool for banks and other card issuers, that get their
clients to the next level in terms of safety and accessibility for
payments", stated Utku Ogrendil, Managing Director of Wirecard
Romania.

"Visa and Wirecard already have a track record of collaborating on
innovative digital financial solutions in Europe and now we are
pleased to announce a partnership that will benefit our Romanian
cardholders. As the fundamental shift from plastic to digital is
accelerating, Visa's approach is to enable our clients and partners
to create and deploy new commerce experiences that seamlessly
incorporate secure digital payments with the same level of
reliability, interoperability and security. The tokenization service,
allows cardholders to use their phones to pay easily and securely at
millions of merchants that accept contactless payments across the
globe. We believe tokenization will be a key component in the future
of digital payments and we are glad to partner with Wirecard to offer
our Romanian customers a new convenient and safe way for their mobile
payments", stated Catalin Cretu, General Manager for Romania,
Croatia, Slovenia and Malta, Visa.

Contactless, which is the underlying technology behind mobile
payments, has rapidly expanded in Romania in recent years, witnessing
the highest growth rate ever recorded for any card product.
Contactless has been the main engine of electronic payments growth in
Romania in the past three years. While Romania progressed rapidly to
be among the top 10 markets globally in terms of contactless
penetration, the expansion of the acceptance network, as well as the
significant increase in the number of contactless enabled cards and
recent launches of NFC mobile wallet solutions have been key pillars
supporting this progress.

Visa's Digital Commerce App, which will be commercialized by
Wirecard to expand mobile payments in Romania, is a Visa-hosted
white-label digital wallet helping issuers of all sizes to shift from
plastic to digital payments, while sparing them the efforts to
develop their own digital wallets.

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,
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.

Wirecard media contact:

Wirecard AG
Jana Tilz
Tel.: +49 (0) 89 4424 1363
Email: jana.tilz@wirecard.com

Wirecard AG | Einsteinring 35 | 85609 Aschheim | Germany Phone: +49
(0) 89 / 4424 - 1400 | Fax: +49 (0) 89 / 4424 - 1500 Email:
presse@wirecard.com | www.wirecard.com

Original-Content von: Wirecard AG, übermittelt durch news aktuell