Yatego enters into Framework Agreement with Wirecard

Germany's largest shopping mall operator Yatego opts for acquiring solutions of Wirecard Bank AG.

Grasbrunn n. Munich, November 11, 2009; shopping mall operator Yatego GmbH, headquartered in St. Georgen, Germany, and Munich-based Wirecard AG have entered into a cooperation agreement, bringing about a substantial improvement in credit card acceptances. With immediate effect, Yatego merchants will benefit from the considerably more favorably priced credit card acceptance (acquiring) services of Wirecard Bank AG. The clearance processes are significantly faster and less complicated, enabling even more merchants to accept credit card payments.

Yatego is Germany’s largest shopping mall. More than 8,000 online merchants have rented virtual shopping outlets here to sell their products, ranging from automobiles and electrical appliances all the way through to pet food and associated articles. However, Yatego does not only make the platform available to shop operators: associated merchants also stand to benefit from extensive consultancy and related services in connection with the sale of new merchandise. Another highlight is that Yatego has entered into general framework agreements with leading providers to make their services available directly to merchants – such as the current credit card acceptance system involving Wirecard Bank AG.

In cooperation with payment services provider EOS Payment Solutions GmbH, Yatego had been searching for a new banking partner in the field of acquiring services. Stephan Peltzer, CEO of Yatego, explains: “To us, the merchant is of primary importance. It was important to us to find a strong partner with online expertise and technology know-how. A speedy clearance procedure, prime conditions and pricing along with good customer service are of vital importance to us. And Wirecard AG certainly meets these exact needs.”

“With our integrated solution, Yatego provides shop operators with substantial added value,” adds Haldun Dagistan, Sales Manager for Consumer Goods at Wirecard AG. “Efficient processes in connection with allocating credit card acceptance services ensure that merchants can acquire fast access to the most frequently used method of payment on the Internet: the credit card.”

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Wirecard media contact:

Wirecard AG
Iris Stöckl
Bretonischer Ring 4
D-85630 Grasbrunn / Munich
Germany
Ph.: +49 (0) 89 4424 0424
Fax: +49 (0) 89 4424 0524
e-mail: iris.stoeckl@wirecard.com
Internet: www.wirecard.de

Yatego media contact:

Yatego GmbH
Thérèse Mattheis
Leopoldstr. 1
78112 St. Georgen
Tel.: +49 (0) 7724 91 56 10
E-mail: presse@yatego.com
Internet: www.yatego.com

About Yatego:

With some 10 million visitors, Yatego – Germany’s largest shopping mall –is one of the leading eCommerce portals on the German-language Internet. Customers can choose from over 3.2 million articles. Placing orders is simple. Payment transactions are secured by an independent fiduciary payment system as well as credit card payment facilities. For successful online sales, Yatego provides merchants with individually tailored, top-performance package solutions along with an extensive range of services. As many as 8,000 specialist merchants and retailers already use Yatego for their Internet trading activities. The company is headquartered in St. Georgen in the Black Forest; its CEO is Stephan Peltzer.

About Wirecard AG:

Wirecard AG is one of the leading international providers of electronic payment and risk management solutions. Worldwide, Wirecard supports over 10,000 companies from many and various industry segments in automating their payment processes and minimizing cases of default. Wirecard Bank AG provides account and credit card services both for business and private customers and is a Principal Member of VISA, MasterCard and JCB. Wirecard AG is listed on the Frankfurt Securities Exchange (TecDAX, ISIN DE0007472060, WDI).

www.wirecard.com | www.wirecardbank.com | www.mywirecard.com