Wirecard Launches Merchant Acquiring Services in Australia, With Cuscal as a Partner

MUNICH, December 20, 2016 /PRNewswire/ --

Wirecard extends its global merchant acquiring services to yet another country directly and provides internet technology to digitalize payments  

Today Wirecard AG and Cuscal, one of Australia's leading payment services companies, announced that they will be working together to allow Wirecard's merchant acquiring services throughout Australia, with Cuscal as acquiring BIN sponsor. That includes the use of Wirecard's proprietary omnichannel payment processing platform to receive credit and debit card transactions in Australia. The partnership with Cuscal allows Wirecard to offer Australian and global merchants with Australian footprint the efficient method of online payment processing: ranging from e-Commerce to POS, to mPOS solutions. Wirecard's offer can be adapted to meet the individual requirements of each merchant, improving conversion rates at the checkout. With this, Wirecard enables internet technology to merchants such as airlines, fintechs and the retail sector by helping them to digitalize payments as well as the whole shopping experience.

Following the cooperation with Cuscal on merchant acquiring, the partnership will be shortly extended to the area of card issuing. That means, that Wirecard will be offering the whole payment value chain to its Australian customers, in the near future. This range goes from the issuing of traditional and virtual prepaid cards over payment processing to risk management and mobile payment solutions.  

Acting General Manager, Product & Service at Cuscal, Colin Sultana said: "We're really pleased to be supporting Wirecard in Australia. We're all about using our expertise and scale to help existing companies grow as well as to support new companies to enter the market. By working with companies like Wirecard we're driving competition in payments, increasing innovation and giving businesses greater choice which will ultimately benefit everyone."

Grigoriy Kuznetsov, Executive Vice President Global Financial Services at Wirecard, adds: "We are delighted to expand our cooperation with Cuscal. This enables us to extend our global merchant acquiring solutions to one of the most important payment markets in the world and ensure that our customers can enjoy consistent service and seamless access to payment options worldwide."

Cuscal and Wirecard have been working together for more than one year. Cuscal, provides payment services to more than 100 financial institutions, airlines and other organisations in Australia. Cuscal processes around 16 percent of EFT transactions in Australia as well as processing transactions for 40% of Australia's ATMs and managing over 7 million debit, credit and prepaid cards.

About Wirecard:  

Wirecard AG is a global technology group that supports companies in accepting electronic payments from all sales channels. As a leading independent supplier, the Wirecard Group offers outsourcing and white label solutions for electronic payments. A global platform bundles international payment acceptances and methods with supplementary fraud prevention solutions. With regard to issuing own payment instruments in the form of cards or mobile payment solutions, the Wirecard Group provides companies with an end-to-end infrastructure, including the requisite licences for card and account products. Wirecard AG is listed on the Frankfurt Securities Exchange (TecDAX, ISIN DE0007472060, WDI). For further information about Wirecard, please visit http://www.wirecard.com or follow us on twitter @wirecard.

Wirecard media contact:

Wirecard AG
Jana Tilz
Tel.: +49-(0)-89-4424-1363
E-Mail: jana.tilz@wirecard.com

About Cuscal:

Cuscal is Australia's leading independent provider of payment solutions including card and acquiring products, mobile payments, fraud prevention, EFT switching and direct entry. We process 16% of Australia's EFT transactions, have over 7 million cards under management and switch and acquire for around 40% of Australia's ATMs. We partner with more than 100 clients from a range of industries including financial services, airlines, fintech and retail. We use our expertise and scale to help existing companies grow and new companies enter the market. This drives competition throughout the payments industry, increasing innovation and giving businesses and consumers greater choice. For more information, please visit: http://www.cuscal.com.au

Cuscal media contact: 
Cuscal Limited
Jake Waddell
Tel.: +61-(0)-8299-9091
Email: jwaddell@cuscal.com.au