Forex Service now available in Wirecard Partner Program

Retailers now have the option of integrated currency exchange on favourable conditions. This represents an effective solution for the increasingly crossborder e-commerce carried out by international retailers.

Advantages for partners

Invoicing and payouts are carried out on a quarterly basis and only a side letter is required in addition to the existing main contract to set up this service, taking account of the pressing desire by retailers to keep costs and administrative effort as low as possible.

The scheduled currency exchange rate is based on the daily foreign exchange reference rate of the European Central Bank (ECB) plus a 1 % premium and is classified as a buy rate.

If the rate sold to a retailer is above the buy rate, the partner receives a payout comprising 50 % of the difference between the two rates as commission (50/50 split).

Reduced administration expense

  • Quarterly payment of commission
  • No new contract required; side letter is sufficient
  • Automated currency exchange


Internationalisation

  • A service that meets the demands of an increasingly globalised world


Higher financial returns

  • Additional income possible

Advantages for Retailers

There are a wide range of benefits for the retailer from this forex service. Firstly, it reduces the accounting effort and expense that would be incurred by handling different currencies and,secondly, the transaction costs which are linked to receiving transfers in different currencies. Transparency requirements are met by clear pricing comprising the daily foreign exchange reference rate of the ECB plus a 1 % premium.

Reduced administration expense

  • Simplified accounting (payout in onecurrency)
  • No new contract required; side letter is sufficient


Lower costs

  • Reduction of transfer expenses (incurred for receipt of payments in different currencies)


Transparent pricing conditions

  • 1 % premium on the latest daily foreign exchange reference rate of the ECB
  • Exchange is often more cost-effective and transparent than conversion on receipt of payment from house bank