Wirecard has signed a memorandum of understanding (MoU) to process all credit card and international debit card payments made at Aldi stores in Germany.

The payments company signed the agreement with Aldi Nord and Aldi Süd Groups, the two supermarket chains of the same parent company.

The move is aimed at encouraging cashless transactions at the retail stores.

Wirecard EVP of retail and consumer goods Christian Reindl said: “Wirecard and Aldi share a common vision of making lasting improvements to the customer experience. In the retail sector, optimal payment processes, which we can enable, play a key role in this.

“We are therefore very pleased to be working with Aldi and developing our partnership in the future.”

The parties may also agree to expand their partnership as the Aldi jointly own 10,000 stores across 20 countries.

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By GlobalData

Aldi Süd director of corporate finance & administration Guido Niechcial said: “With Wirecard, we have found a reliable partner to facilitate smooth payments for our customers.”

Aldi Nord deputy head of financial management Sebastian Jockel said: “We always aim to offer our customers the easiest and fastest service – and that includes the payment process.”

In April this year, Wirecard collaborated with the UAE-based Al Ansari Exchange to introduce a new multi-currency card solution. The card will enable the holders to make payments in 16 different currencies.

It also expanded its partnership with Google Pay this year.