Wirecard Announces Expansion of Payout Product Offering in the Philippines

Germany-based global provider of digital payments and commerce solutions Wirecard announced on Friday it expanded of its payout product in the Philippines.

Wirecard reported its cards may be used in a wide range of industries. Cardholders can use the contactless cards to carry out seamless transactions at the POS and online and can manage their cards via the Wirecard Payout online portal and with an associated app which is currently being developed. With this, Wirecard brings its knowledge around payout cards solutions to the Asian region.

“In the US, Wirecard is already today one of the leading providers for payout cards, especially in the telecom and cable sector. With the business model, North America is today one of the regions where Wirecard sees not only major transaction volume but a lot potential in new industries alike, such as in the property and utility sector. For example, Wirecard offers US customers its Virtual Express solution for immediate and reliable delivery of digital funds including refunds, incentives, and rewards, designed specifically for mobile wallets. A further roll out of a similar digital wallet solution is planned for the Asian region in the near future.”

Speaking about the expansion, Arne Matthias, Executive Vice President Issuing at Wirecard, stated:

“Launching Wirecard’s payout solution in the Philippines will help our customers not only be more efficient, but also bring cashless payments to more individuals. With our technology and payments expertise we are uniquely positioned to help with the digitization of payments – offering our payout products in the Philippines is another important milestone for Wirecard as we continue to invest and grow in the Asia Pacific region.”

Martha Borja, General Manager at Wirecard Philippines, went on to add:

“With our payout solutions, we are helping our customers make easy payments to individuals, helping to streamline the payment process across a variety of industries nationwide. Compared to traditional payout methods, our solutions offer a number of benefits to both card managers and cardholders. We are excited to see our payout offering improve the payout processes for our customers who are seeking a more cost-effective and efficient payout solution.”

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