Wirecard expands payout product offering in the Philippines, further driving cashless payments

Aschheim (Munich) (ots) -

- Wirecard launches payout solution for POS and Online in the
Philippines
- Payout cards can be used across multiple sectors, including private
and public
- Wirecard leverages on its experience with Payout Cards e.g. from
the US where Wirecard is the leading provider for payout solutions in
the telecom and cable sector

Wirecard, the global innovation leader for digital financial
technology, further drives cashless payments in the Philippines with
the launch of the company's payout solution. The cards, issued by
Wirecard under the new local e-money license, can be used in a wide
range of industries. Cardholders can use the contactless cards to
carry out seamless transactions at the POS and online, and can manage
their cards via the Wirecard Payout online portal and with an
associated app which is currently being developed. With this,
Wirecard brings its knowledge around payout cards solutions to the
Asian region.

In the US, Wirecard is already today one of the leading providers
for payout cards, especially in the telecom and cable sector. With
the business model, North America is today one of the regions where
Wirecard sees not only major transaction volume but a lot potential
in new industries alike, for example in the property and utility
sector. For example, Wirecard offers US customers its Virtual Express
solution for immediate and reliable delivery of digital funds
including refunds, incentives, and rewards, designed specifically for
mobile wallets. A further roll out of a similar digital wallet
solution is planned for the Asian region in the near future.

Wirecard's three new payout products in the Philippines are
targeted towards governments, public sector clients, and
corporations. The uses range from loan or refund provisions,
corporate expense reimbursements, and commission payouts. As a
result, the cards are an attractive solution for both public and
private entities.

"Launching Wirecard's payout solution in the Philippines will help
our customers not only be more efficient, but also bring cashless
payments to more individuals," commented Arne Matthias, Executive
Vice President Issuing at Wirecard. "With our technology and payments
expertise we are uniquely positioned to help with the digitization of
payments - offering our payout products in the Philippines is another
important milestone for Wirecard as we continue to invest and grow in
the Asia Pacific region."

Cashless payments are gaining speed in the Philippines, making the
Southeast Asian country an ideal market to roll out contactless
payout cards. A recent study by Visa found that 5 out of 10 Filipinos
feel confident going cashless for 3 days, with that number increasing
to nearly 7 out of 10 when asked about going cashless for 1 day.

"With our payout solutions, we are helping our customers make easy
payments to individuals, helping to streamline the payment process
across a variety of industries nationwide," said Martha Borja,
General Manager at Wirecard Philippines. "Compared to traditional
payout methods, our solutions offer a number of benefits to both card
managers and cardholders. We are excited to see our payout offering
improve the payout processes for our customers who are seeking a more
cost-effective and efficient payout solution."

The payout cards offer many benefits to cardholders and card
managers alike. Cardholders can use the cards to pay at the POS and
online, reducing the amount of cash they carry on hand, and do not
need a bank account to use the cards. If needed, users can even
withdraw cash from ATMs with their cards. Through the Wirecard Payout
online portal, users can see an overview of their card activity and
balance. Wirecard's payout products are 3DS enabled, ensuring the
highest level of protection for cardholders. Card managers benefit
from a more streamlined administration of disbursements, bulk loading
of payout cards, and an overall reduction of overhead costs.

For more information, please visit:
https://www.wirecard.com/payment-base/payout-cards

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.

Wirecard media contact:

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

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