Deutsche Telekom has signed up technology and financial services provider Wirecard to help implement its mobile payments strategy.
As part of this strategic partnership, Wirecard will put in place the technical processes for issuing the Telekom MasterCard – due to launch in Germany at the end of this year – and support DT in processing payments.
Wirecard will also help to implement DT's Mobile Wallet, which is scheduled to launch next year.
"With the technical implementation of online, store-based and mobile payment in the safe and experienced hands of specialist Wirecard, we can concentrate on our core business," commented Peter Vesco, SVP of Business Unit Payment at DT.
Germany-based Wirecard supports over 13,000 companies in automating their payment processes and minimizing cases of default.
CEO Markus Braun said his company would provide DT with “the necessary processes”, such as real-time card creation and payment processing.
The company said it also supplies classic and contactless cards, NFC stickers, and real-time provision of virtual cards for NFC-compatible smartphones.
Bean added that the partnership wit DT was “long-term”.
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