Wirecard and Xolo offer seamless banking for freelancers on a global scale within the "gig economy"

Aschheim (Munich) (ots) -

- Wirecard digital banking and card issuing services present an
attractive business banking and payment solution for Xolo users
- The combined offering enables a practical and efficient way to
manage banking, payments tax and compliance activity
- The global gig economy market is valued at $204 billion with
annual growth of 17%

Wirecard, the global innovation leader for digital financial technology, is
cooperating with Xolo, formerly LeapIN, the online platform for launching and
running micro-businesses anywhere in the world, to offer fully digital seamless
banking for entrepreneurs. The new partnership will enable Xolo, supported by
Wirecard's digital banking services, to revamp and enhance the banking and
accounting aspect of its current platform. The companies are collaborating
within the so-called "gig economy" which refers to digital platforms that allow
independent freelancers to connect with individuals or businesses for short-term
services or asset-sharing. This market was valued at $204 billion in 2018 with
compound annual growth rate of 17%.

Over 30,000 so-called solopreneurs have already signed up with Xolo. Xolo offers
users a holistic business platform that provides incorporation, taxation,
banking and accounting services, enabling them to set up and operate a
hassle-free virtual business from anywhere in the world. Leveraging on
Wirecard's banking license, Xolo users can virtually open a business bank
account within 48 hours, receive a Wirecard-issued debit card, and be able to
effectively manage their banking, tax and compliance activity via a unified Xolo
operation center.

Allan Martinson, CEO at Xolo, said, "This new partnership marks a significant
step for Xolo as we strive to establish a new virtual nation for freelancers and
solopreneurs. With the addition of Wirecard's pioneering digital banking
solution, we will continue to build out our vision for enabling millions of
micro-businesses to get to market quicker and without the bureaucracy."

Leonard Coen, Head of Sales, Financial Institutions & Fintech Europe, at
Wirecard, added, "We are pleased to support Xolo's ecosystem of business users
with a streamlined and integrated payment and banking experience which will
allow them the freedom to innovate and harness the success they seek."

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.

About Xolo:

Xolo is a revolutionary service platform specifically designed for solopreneurs,
micro-business owners, digital nomads, and freelancers. The company makes it
simple and cost-effective to run a business from any location. Freelancers can
launch and run their companies fully online. Xolo's online platform takes care
of the hard bits like company formation, taxes, accounting, and banking to save
Xolopreneurs 162 hours a year. As an official member of the e-Residency
marketplace, Xolo has already enabled thousands of customers from more than 100
countries to establish their business. For more information, visit www.xolo.io.

Contact:

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

Xolo media contact:
Xolo OÜ
Kristin Pihu
Tel.: +372 5348 2436
Email: kristin.pihu@xolo.io

Additional content: https://www.presseportal.de/pm/15202/4534649
OTS: Wirecard AG
ISIN: DE0007472060

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