MUNICH, October 12, 2017 /PRNewswire/ --
- Wirecard issues contactless cards and wristbands for online payment provider Twisto
Wirecard, the leading global specialist for digital payment solutions and internet technology, cooperates with Twisto to provide contactless payments via credit cards and wristbands at the point of sale (POS) in the Czech Republic. Twisto is the first FinTech company providing physical credit card payments in the region. The company was awarded as 'Best European Payments & Transfers Company 2017' by European FinTech Awards 2017. After Twisto's success in the field of e-commerce with 'buy now, pay later solution', the company now expands its services by offering contactless payments for physical retail. As Twisto's official partner, Wirecard is responsible for the issuance of cards and wristbands.
Despite the boom of e-commerce in the Czech Republic, around 90% of sales still happen in physical retail stores. Recognizing this trend, the FinTech company Twisto decided to extend its services with the launch of the Twisto Card linked to a mobile app. The new contactless payment solution 'Twisto Card' will be integrated into Twisto's mobile app, which gives customers up to 45-day interest free credit for their payments. The app allows customers to get instant payment notifications and automatic transaction categorization making the payment management quick and transparent, block card directly from the app or save money with integrated cashback offers.
Michal Smida, CEO at Twisto said, "At Twisto, we are on a mission to provide simple and fair daily financing solutions for the online generation. After our success with online credit offering, we will now be able to provide instant credit everywhere and serve even greater customer audience. Wirecard's expertise as well as its extensive experience in various mobile payment projects demonstrates that our new partner is uniquely positioned to support us with best issuing solutions and state-of-the-art technology."
Thorsten Holten, Executive Vice President Sales Financial Institution and FinTech Europe, comments, "We delightedly announce our new strategic partnership with Twisto. This payment solution is a perfect example of how modern online payments at the POS are working nowadays. We are looking forward to future extension of our collaboration to other European countries."
The new credit card solution allows end-customers to use Twisto instant credit line everywhere. Twisto has been providing online payments for customers since 2013 and became one of the fastest growing payment providers in the Czech Republic. Since start, Twisto served over 200,000 high-quality customers who will be offered the Twisto Card.
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.
Twisto is a Prague-based FinTech that has been innovating online payments since 2013. The company is the leader in 'buy now, pay later' deferred payments in the Czech Republic. Twisto served over 200,000 customers across 350+ online e-shops. The main pillar of Twisto is its proprietary risk scoring engine Nikita - a combination of big data and machine learning algorithms delivering credit decisions in milliseconds. Nikita evaluates credit-worthiness and solvency of customers, bypassing the need to be linked to debtors' registers or requiring sensitive personal information from customers. Twisto is backed by world-class investors: ING Group, UNIQA, ENERN, Partners, Cezary Smorszczewski and Miton.
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SOURCE Wirecard AG