Wirecard has expanded its partnership with fintech company Spendit to develop digital benefit solutions for employees across Europe.
As part of the extended arrangement, Wirecard will begin issuing the fintech’s SpenditCard, a digital voucher designed to provide tax-free benefits.
Businesses will be able to use the card to offer multiple tax-free fringe benefits to their employees. The cardholders can use the product on the global Mastercard network.
The SpenditCard currently has more than 4,000 corporate customers in Germany. Wirecard and Spendit intend to add new functionalities to the SpenditCard, with plans to expand availability to new countries in the near future.
Spendit founder and CEO Florian Gottschaller said: “With a strong partner in the form of Wirecard, we can look forward to further increasing our customer numbers and to tapping into additional European markets.
“As the market leader, Wirecard is the ideal strategic partner for Spendit because it shares our vision of developing innovative products for global employers and continuing to drive forward the digitization of benefit products.”
Wirecard head of partner management Catharina Tiede said: “With the SpenditCard, we are setting new standards in the digitisation of benefit programmes. This partnership is an exciting opportunity to promote the use of consumer cards as a corporate incentive.”