Wirecard, the global innovation leader for digital financial technology, and givve, a German FinTech company specializing on employee engagement and incentive solutions, expand their existing partnership in the field of digital employee benefits. The givve Mastercard is issued by Wirecard and can be used at 36 million points of acceptance worldwide. givve currently boasts over 8,500 corporate clients including Lindner Group and Mercateo, has issued almost 300,000 employee benefit cards via the Wirecard platform, and is currently selling 500 new cards a day. The Munich-based FinTech givve is one of the ten fastest growing technology companies in Germany and was recently acquired by Up group. As a result of the acquisition, the deployment possibilities for the joint solution can be extended from employee loyalty cards to include full loyalty programs and incentives.
Joanne Ridgway, Head of Account Management at Wirecard, said, “The advantages of digital benefit cards for both employers and employees range from concrete ones such as tax benefits to emotional ones such as loyalty and the feel good factor. In the US, we have been serving this market for many years, in which time the number of issued cards has grown by 75% while expenditure using employee benefit cards has risen around 45%. We look forward to driving forward this growth market here in Europe and partnerships with innovative, forward-thinking companies are key to this vision.”
Patrick Löffler, Co-Founder and CEO at givve, added, “The work we have done with Wirecard on both the card holder and the client issuing fronts is highly innovative and has been key in helping our customers improve employee loyalty. For example, unlike similar offerings, our card can be topped up by users, extending its lifespan and enabling employees to use the card as an alternative cashless payment method on an ongoing basis. We are excited about the possibilities to expand the reach of our technology and improve processes further through the use of state-of-the-art developments such as machine learning.”
givve offers a platform facilitating, automating and optimizing the management and distribution of employee benefits, combined with a multi-use-case payment card, issued by Wirecard. This solution strengthens the strong and meaningful bonds between a company and its employees, which is an increasingly differentiating factor in attracting and retaining the best talents. The givve Mastercard can be branded in line with a company’s corporate identity and offers employers the chance to show their appreciation for employees with a wide range of tax-free fringe benefits.