- Wirecard announces collaboration with lastminute.com, part of lm group, as an international payment acceptance provider
Wirecard, the global innovation leader for digital financial technology, is expanding its collaboration with lastminute.com and is taking over payment acceptance for the online travel and leisure retailer as one of its acquiring partners. In addition to the issuing of B2B and B2C travel cards, payments carried out on lastminute.com will be handled by Wirecard via the company’s digital financial commerce platform.
lastminute.com, part of lm group, a leading European travel company with a diverse brand portfolio offering a variety of travel services, has been collaborating with Wirecard in the field of Supplier and Commission Payments (SCP) for subsidiaries of lastminute.com for several years. In 2018, the two companies then jointly launched the lm Card, a multi-currency Visa card for travelers.
The business partnership has now developed on an international scale, to deliver fast, secure and reliable payment acceptance for both the merchant and the customer.
lm group recently processed a Gross Transaction Value (GTV) of EUR 2.3 billion globally. This is in line with the widespread trend of booking travel services online. According to Statista, between 2018 and 2023, the number of consumers using an online travel booking service, including those for package holidays, hotels and vacation rentals, is expected to grow by 28%. In the same time period, a 35% growth is projected for the number of users taking advantage of online mobility booking services, including those for flights, trains, cars and buses. Worldwide, revenue for the eTravel market will reach EUR 1.3 trillion by 2023.
“We are excited to expand our cooperation with lastminute.com and bring them in to our digital financial commerce platform,” said Jan Rübel, Head of Sales Travel & Mobility at Wirecard. “We have a long and successful track record of providing lastminute.com with tailor-made digital financial services. Now that payments are completely seamless, digital and reliable, consumers can concentrate on preparing for their dream vacation. We look forward to continuing the expansion of our business relationship with lastminute.com on a global scale.”