Wirecard has entered into a partnership to help customers of Chinese travel payment company YeePay internationalise their business.
As per the agreement, Wirecard will offer payment processing services globally to YeePay’s customers in the airline industry.
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As part of the collaboration, all YeePay’ customers outside China can access a swift and regulatory checkout process.
Wirecard EVP of travel and mobility Jörg Möller said: “We are proud to enter into a partnership with YeePay and leverage on their status and expertise in the Chinese airline and travel market.
“Wirecard is already one of the largest international acquirers for airlines outside of China, working with more than 100 airlines globally.
“This cooperation with YeePay and its customers enables us to further expand our presence in this ever-growing market segment.”
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By GlobalDataLast year, YeePay managed around €34bn in transactions across airline and travel sectors. With this collaboration, Wirecard is expected to handle more than €17bn in transactions.
YeePay CEO Bin Tang said: “As the acquiring partner of choice for China’s airlines, we are constantly seeking new partnerships that can strengthen our service offering.
“With Wirecard we are extending our footprint on a global scale, and as a result can offer our customers a modern and innovative payment experience, no matter where in the world they are.”
The company will pay up to €72.4m in cash to acquire 80% interest in AllScore.
