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MarketScreener Homepage  >  Equities  >  Xetra  >  Wirecard AG    WDI   DE0007472060

WIRECARD AG

(WDI)
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Wirecard and UnionPay, the world's largest card scheme, sign MoU to form expanded global strategic partnershipecard AG:

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09/16/2019 | 01:20am EDT

DGAP-News: Wirecard AG / Key word(s): Alliance
Wirecard and UnionPay, the world's largest card scheme, sign MoU to form expanded global strategic partnershipecard AG:

16.09.2019 / 07:15
The issuer is solely responsible for the content of this announcement.


16 September 2019

Wirecard and UnionPay, the world's largest card scheme, sign MoU to form expanded global strategic partnership

- UnionPay leads the global card scheme market, having issued 57.6% of the world's payment cards in circulation

- Partnership aims to support Wirecard's growth in China

- Scope includes expanding global acceptance of UnionPay and developing joint digital payment solutions


Aschheim (Munich). Wirecard, the global innovation leader for digital financial technology, has signed an MoU with UnionPay, the world's largest card scheme, to form a global strategic partnership. The agreement will support UnionPay's ongoing international expansion and Wirecard's growth in China and with Chinese businesses.

With over 7.59 billion cards issued under its brand, amounting to 57.6% of the world's payment cards in circulation according to the Nilson Report, UnionPay leads the global card scheme market, and is an association for China's banking card industry. The cooperation between Wirecard and UnionPay will focus on expanding the global acceptance of UnionPay as a digital payment method across all channels. In addition, the partnership will also launch a number of issuing projects, including corporate solutions such as payout products and SCP (Supplier and Commission Payments), and consumer-oriented products in the form of digital wallets for incoming tourists to China.

"As the world's largest card scheme in terms of card issuance, UnionPay will be one of our key alliances in Asia," commented Georg von Waldenfels, EVP Group Business Development at Wirecard. "We're excited about the immense potential this partnership creates for both entities, and to deliver innovative solutions for current and future UnionPay cardholders globally. As a major tourist and business destination, China receives hundreds of millions of travelers every year, which means that the scope of our solutions will also address non-Chinese nationals and enable them to pay with UnionPay nationwide."

"Through our global strategic partnership with Wirecard, we plan to continue driving our international expansion forward," added Larry Wang, Vice President at UnionPay International. "We are proud to have an experienced partner in digital financial technology and global payments by our side to provide an even wider range of innovative solutions for UnionPay customers. We look forward to launching our partnership with Wirecard."

The initial stage of the partnership will focus on launching additional projects in Asia-Pacific, Europe and the US, where both partners already work together for several years. Especially point of sale and issuing solutions will merge with the existing online payment business. Additionally, a consumer solution for the upcoming 2022 Winter Olympics in Beijing is being planned to take advantage of the large number of tourists who will visit the country.

Wirecard contact:

Wirecard AG
Iris Stoeckl
VP Corp. Comm./IR
Tel.: +49 (0) 89-4424-1424
Email: iris.stoeckl@wirecard.com
http://www.wirecard.de
ISIN DE0007472060
Reuters: WDI.GDE
Bloomberg: WDI GY

About Wirecard:

Wirecard (GER:WDI) is one of the world's fastest growing digital platforms in the area of financial commerce. We provide both business customers and consumers with a constantly expanding ecosystem of real-time value-added services built around innovative digital payments by using an integrated B2B2C approach. This ecosystem concentrates on the areas payment & risk, retail & transaction banking, loyalty & couponing, data analytics & conversion rate enhancement in all sales channels (online, mobile, ePOS). Wirecard operates regulated financial institutions in several key markets and holds issuing and acquiring licenses from all major payment and card networks. Wirecard AG is listed on the Frankfurt Stock Exchange (DAX and TecDAX, ISIN DE0007472060). Visit us on www.wirecard.com, follow us on Twitter @wirecard and on Facebook @wirecardgroup.

UnionPay contact:

UPIPR
Tel.: +86 (0) 21 2026 5843
Email: UPIPR@unionpayintl.com

About UnionPay:

China UnionPay (CUP) is a bankcard association founded in 2002 in Shanghai, China, with an aim to facilitate interbank transactions in the Chinese Mainland. So far, all POS and ATM terminals of all the banks in mainland China are connected to the UnionPay network. UnionPay International (UPI) is a subsidiary of CUP focused on the growth and support of UnionPay's global business. In partnership with more than 2,000 institutions worldwide, UPI has enabled card acceptance in 174 countries and regions with issuance in 56 countries and regions. UPI provides quality, cost-effective and secure cross-border payment services to the world's largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.



16.09.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Wirecard AG
Einsteinring 35
85609 Aschheim b. München
Germany
Phone: +49 (0)89-4424 1400
Fax: +49 (0)89-4424 1500
E-mail: ir@wirecard.com
Internet: www.wirecard.com
ISIN: DE0007472060
WKN: 747206
Indices: DAX, TecDAX, Prime All Share, Technology All Share
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 873825

 
End of News DGAP News Service

873825  16.09.2019 

fncls.ssp?fn=show_t_gif&application_id=873825&application_name=news&site_id=zonebourse

© EQS 2019
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Financials (EUR)
Sales 2019 2 684 M
EBIT 2019 660 M
Net income 2019 525 M
Finance 2019 1 286 M
Yield 2019 0,18%
P/E ratio 2019 33,5x
P/E ratio 2020 24,9x
EV / Sales2019 6,06x
EV / Sales2020 4,58x
Capitalization 17 552 M
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