Posted on 12/20/2016 at 08:45
Wirecard launches merchant acquiring services in Australia, with Cuscal as a partner
Wirecard provides internet technology to digitalize payments
Today Wirecard AG and Cuscal, one of Australia's leading payment services companies, announced that they will be working together to allow Wirecard’s merchant acquiring services throughout Australia, with Cuscal as acquiring BIN sponsor. That includes the use of Wirecard’s proprietary omnichannel payment processing platform to receive credit and debit card transactions in Australia. The partnership with Cuscal allows Wirecard to offer Australian and global merchants with Australian footprint the efficient method of online payment processing: ranging from e-Commerce to POS, to mPOS solutions. Wirecard’s offer can be adapted to meet the individual requirements of each merchant, improving conversion rates at the checkout. With this, Wirecard enables internet technology to merchants such as airlines, fintechs and the retail sector by helping them to digitalize payments as well as the whole shopping experience.
Following the cooperation with Cuscal on merchant acquiring, the partnership will be shortly extended to the area of card issuing. That means, that Wirecard will be offering the whole payment value chain to its Australian customers, in the near future. This range goes from the issuing of traditional and virtual prepaid cards over payment processing to risk management and mobile payment solutions.
Acting General Manager, Product & Service at Cuscal, Colin Sultana said: “We’re really pleased to be supporting Wirecard in Australia. We’re all about using our expertise and scale to help existing companies grow as well as to support new companies to enter the market. By working with companies like Wirecard we’re driving competition in payments, increasing innovation and giving businesses greater choice which will ultimately benefit everyone.”
Grigoriy Kuznetsov, Executive Vice President Global Financial Services at Wirecard, adds: “We are delighted to expand our cooperation with Cuscal. This enables us to extend our global merchant acquiring solutions to one of the most important payment markets in the world and ensure that our customers can enjoy consistent service and seamless access to payment options worldwide.”
Cuscal and Wirecard have been working together for more than one year. Cuscal, provides payment services to more than 100 financial institutions, airlines and other organisations in Australia. Cuscal processes around 16 percent of EFT transactions in Australia as well as processing transactions for 40% of Australia’s ATMs and managing over 7 million debit, credit and prepaid cards.