Mizuho Bank, a Japanese banking group, has expanded its alliance with German payments firm Wirecard.

The two parties have been working together since last year, with the bank already utilising Wirecard’s acquiring and issuing services for its corporate clients in Asia.

Wirecard global EVP of financial institutions and fintech Laura McCracken said: “A leading global financial institution, Mizuho Bank works with major businesses from a variety of industries across the world.

“Combined with our expertise in digital financial technology, we are confident that together we will deliver the most state-of-the-art solutions for Mizuho Bank clients.”

The collaboration between Mizuho Bank and Wirecard will now extend to more markets in Asia-Pacific, including Australia, Malaysia, New Zealand, and the Philippines, as well as to Europe and the US.

Moreover, the scope of the partnership will now include new payout products.

The two companies also intend to cooperate on new digital payment tools. These solutions will be targeted at banking customers in the food and beverage, retail and hospitality sectors.

Commenting on the partnership expansion, Mizuho Bank head of transaction banking for Asia Oceania Kaoru Mochizuki said: “With Wirecard, we will develop our corporate product offering and further digitalise our services on an international scale.”