Posted on 08/14/2012 at 15:23
Deutsche Telekom commissions Wirecard as technical service provider for mobile payment
Deutsche Telekom is now working with technology and financial services provider Wirecard AG to implement its payment strategy.
As part of this strategic partnership, Wirecard will put in place the technical processes for issuing the Telekom MasterCard and support Deutsche Telekom in processing payments. "In Wirecard, we have found the best partner for card management and technical processing, taking the next step in creating an ecosystem for anything to do with mobile payment. With the technical implementation of online, store-based and mobile payment in the safe and experienced hands of specialist Wirecard, we can concentrate on our core business," explains Peter Vesco, Senior Vice President, Business Unit Payment at Deutsche Telekom.
The partnership does not only provide the technical basis for the payment card, which will be launched on the German market at the end of the year, but also covers the planned launch of Deutsche Telekom's Mobile Wallet in 2013.
"We are delighted that Deutsche Telekom has opted for a long-term partnership with us. As a technical services provider, we are in an ideal position to provide the necessary processes, such as real-time card creation, payment processing and other additional services for mobile payment," says CEO Markus Braun at Wirecard, and continues: "As an innovative solution provider for the telecommunications industry, we offer a wide range of mobile payment services, including classic and contactless cards, NFC stickers, and real-time provision of virtual cards for NFC-compatible smartphones."