Germany-based global provider of digital payments and commerce solutions Wirecard announced on Monday it has partnered with Chinese currency exchanger United Money to issue a multi-currency Visa card.
Wirecard reported that the card, Travel Cashcard, is an ideal alternative to traveler’s checks and cash. The card is notably geared towards Chinese nationals who plan to travel abroad and are seeking a widely-accepted and convenient payment method, which can be managed via an online account. Currently, United Money managed nearly 100 exchange offices in major airports, business districts, and upscale communities nationwide and serves millions of consumers.
The digital card is supporting currencies from the most-visited regions of the world: Australia, Hong Kong, Japan, Singapore, the UK, U.S., and Eurozone. Consumers can load the cards before traveling, locking in exchange rates. United Money, one of the first officially recognized currency exchange companies in China, offers additional services in VAT refund processing and banknotes wholesale. While sharing more details about the card, Jiang Zhongmo, founder of United Money, stated:
“We are delighted to offer our customers a reliable and secure payment solution, which is backed by trusted industry leaders Wirecard and Visa. As experts in the field of foreign currency exchange, we are confident that Wirecard’s digital payment solution will fulfill the expectations of our customers, whether they are first-time or experienced travelers. We welcome this innovative and forward-thinking solution by Wirecard.”
Grigoriy Kuznetsov, EVP of Global Financial Services at Wirecard, went on to add:
“As a global company at the forefront of digital financial innovation, we understand the barriers that are faced when paying in a foreign currency. This is why we are proud of the collaboration with United Money, a market leader in China in the area of currency exchange. We look forward to developing further innovative solutions for United Money.”