Wirecard and Spendit digitize benefit card solutions for employees across Europe

Aschheim (Munich) (ots) -

- Wirecard to issue the SpenditCard, Germany's first regulated credit
card program for employee benefits
- Expanded cooperation capitalizes on the sustained global trend in
the area of employer offers

Wirecard, the global innovation leader for digital financial
technology, along with Spendit AG, a multi-award-winning HR and
FinTech company, are expanding their long-term cooperation and are
set to develop digital solutions in the area of employee benefits for
the whole of Europe. With immediate effect, the SpenditCard, a
digital voucher for tax-free benefits in kind, offered by Spendit
since 2014 as Mastercard's preferred partner, will be issued by
Wirecard. It is the first regulated credit card program based in
Germany and already has over 4,000 corporate customers. There are
plans for it to be further developed to include new functions and
cover new countries in the near future.

Wirecard is applying its global expertise in the area of employee
benefit solutions. This can be seen in the USA, for example, where
Wirecard has already been providing large businesses with benefit
products for many years: Millions of consumers make use of the
solution's advantages on a regular basis, with the number of cards
issued rising by a compounded average of 75% per year. At the same
time, expenditure using employee benefit cards is rising by around
45% on average.

Catharina Tiede, Head of Partner Management at Wirecard, says:
"With the SpenditCard, we are setting new standards in the
digitization of benefit programs. This partnership is an exciting
opportunity to promote the use of consumer cards as a corporate
incentive. We are delighted that, together with Spendit, we will soon
be digitizing employee programs across Europe."

Florian Gottschaller, founder and CEO of Spendit, explains: "We
are proud to have exceeded expectations and grown our customer base
to over 4,000. With a strong partner in the form of Wirecard, we can
look forward to further increasing our customer numbers and to
tapping into additional European markets." He adds: "As the market
leader, Wirecard is the ideal strategic partner for Spendit because
it shares our vision of developing innovative products for global
employers and continuing to drive forward the digitization of benefit
products."

The SpenditCard is like a universal voucher that can be used
worldwide. Businesses can use the card to give their employees a wide
range of tax-free fringe benefits as a modern alternative to petrol
and gift vouchers on a prepaid card, which can be used by employees
without restriction in the Mastercard network across the world. The
SpenditCard, which can be branded in line with a company's corporate
design including the logo, is a reflection of employer appreciation
that benefits employees' everyday lives. It has been well-received as
an employer branding element. The card enables employers to optimize
wage costs and to significantly reduce administration overhead.

The modular system of the SpenditCard enables businesses to design
individual, industry-specific benefit programs. Each employee is
entitled to a total of EUR 708 tax-free (net) and up to EUR 11,000
that is subject to a flat rate of taxation.

About Wirecard:

Wirecard (GER:WDI) is one of the world's fastest growing digital
platforms in the area of financial commerce. We provide both
corporate clients 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 solutions in the areas payment and risk, retail and
transaction banking, loyalty and coupon programs in addition to data
analytics and conversion rate enhancement across all sales channels
(online, mobile, ePOS). Wirecard operates regulated financial
institutions in several key markets, in addition to holding 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 Spendit AG:

In 2014, the visionaries Dr. Ralph Meyer and Florian Gottschaller
founded Spendit AG in Munich and dedicated themselves to the digital
revolution of employee benefits. An international team supports them
in their mission: Developing customer-specific benefit solutions for
employers who are serious about digitization and who want to keep the
best talent in their business. Today, more than 4,000 businesses in
Germany and Austria use Spendit AG's smart products: the
SpenditCard®, the digital voucher for income tax-free benefits in
kind, and the Lunchit App®, the digital meal voucher. For more
information, please visit www.spendit.de

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

Spendit AG media contact:
Spendit AG
Daria Kossogova
Tel.: +49 (0)89 2003 1881 80
Email: daria.kossogova@spendit.de

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