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November 13, 2018

Wirecard issues givve Mastercard cards to corporate clients

Wirecard has agreed to issue givve Mastercard employee benefit cards to corporate clients.

givve cards can be used at 36 million points of acceptance globally.

givve portfolio includes a platform for automation, optimisation, management and distribution of employee benefits. The service is accompanied by a multi-use payment card issued by Wirecard.

The givve Mastercard cards can be personalised based on a company’s corporate identity.

So far, approximately 300,000 employee benefit cards have already been issued. givve is now offering 500 new cards daily.

Wirecard head of Account Management Joanne Ridgway said: “The advantages of digital benefit cards for both employers and employees range from concrete ones such as tax benefits. Also, emotional ones such as loyalty and the feel good factor.

“In the US, we have been serving this market for many years, in which time the number of issued cards has grown by 75% while expenditure using employee benefit cards has risen around 45%. We look forward to driving forward this growth market here in Europe and partnerships with innovative, forward-thinking companies are key to this vision.”

givve co-founder and CEO Patrick Löffler added: “For example, unlike similar offerings, our card can be topped up by users, extending its lifespan and enabling employees to use the card as an alternative cashless payment method on an ongoing basis.

“We are excited about the possibilities to expand the reach of our technology. We can improve processes further through the use of state-of-the-art developments such as machine learning.”

Recently, givve was acquired by Up group. This deal is expected to help in linking loyalty programmes and incentives with the employee benefit cards.

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