Wirecard has signed a Memorandum of Understanding (MOU) with device lifecycle management company Brightstar.
The MOU’s aim is to increase collaboration between the two firms in the digital space. In particular, it will focus on consumer lending, payment acceptance processing, and also card issuing.
Under the terms of the MOU, digital financial services via the Brightstar platform will be handled by Wirecard. In addition, both firms will explore opportunities to collaborate further in the future.
Furthermore, Wirecard is significantly optimistic regarding the deal and the transaction volume it will garner.
“We are looking forward to working together with Brightstar and exploring areas around digital payment and financing where we can cooperate strategically,” said Georg von Waldenfels, EVP group business development at Wirecard. “Together, we expect to bring a variety of new solutions to the mobile services market on a global scale and we anticipate significant transaction volume out of this deal.”
“As a global mobile services company, we aim to bring the latest technology to as many users as possible,” commented David Nanayakkara, EMEA president at Brightstar. “Through our collaboration with Wirecard we plan to expand our already wide-ranging service offering, and continue providing the most innovative services to our customers worldwide. We are excited to work with Wirecard, a company that complements our global reach and digital innovation ambitions.”
Brightstar is a mobile services company that manages devices and accessories. It currently handles over 100 million devices per year across 50 countries. Its parent company, SoftBank Group, is also a strategic partner of Wirecard.
Wirecard building relationships
Germany-based Wirecard has been very busy in the sector recently. In August 2019, it teamed up with joint venture emonvia to digitise several thousand charging stations.
They are launching charge@work, a secure and sustainable charging solution for company car parks. More than 60,000 corporate customers and public utilities throughout Germany use the energy services of N-Ergie AG, the joint venture behind emonvia.
Under the partnership, more than 900 UK outlets of the retailer will add support for Chinese payment methods.
The move is said to be significant, considering that the number of Chinese travellers to Britain has increased two-fold in the past five years, as per data from the UK Office for National Statistics.