ASCHHEIM, Germany, May 28, 2015 /PRNewswire/ --
- Issuing of cards and merchant acquiring services
Wirecard Group, with its New Zealand subsidiary GFG Group Limited, today announced that Cuscal Limited, one of Australia's leading payment services companies, has selected Wirecard as solution partner for its next generation acquiring and issuing processing business.
Cuscal, established in 1992, provides payment services to more than 100 banks, mutual sector organisations, airlines and other organisations in Australia. Cuscal processes around 14 percent of EFT transactions in Australia as well as managing one third of Australia's ATMs and over 5.5 million debit, credit and prepaid cards.
Cuscal's clients include the majority of Australia's credit unions as well as some of Australia's largest banks and the domestic operations of foreign banks. Increasingly Cuscal is becoming the preferred partner of choice to service the interests of non-financial services clients, such as Virgin Australia or the Queensland Government.
"We are very happy to announce this business relationship with Wirecard and are eager to launch innovative new services to our clients on this new platform," stated Craig Kennedy, Managing Director at Cuscal. "With Wirecard, we are introducing best-in-class in payments technology to the Australian market, which will extend our portfolio of innovative services in an ideal way."
Wirecard's acquiring and issuing platform represents the result of almost two decades of international payments experience, supporting all debit and credit card schemes on an integrated high-performance real-time transaction platform. Wirecard's solution is based on a modular architecture and is supporting the latest innovations in card and mobile payments
"We are thrilled to be working with Cuscal, a company that has been a driver for innovation in Australian payments for decades. Cuscal and Wirecard are both at the forefront of technological innovation in the payments sector, in particular driving the deployment of next generation payment products. Together we will be able to serve this rapidly developing market even more effectively," said Andreas Kazamias, Managing Director of GFG Group.
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:
Cuscal is a world-class end-to-end payments leader which provides more than 100 established and challenger brand clients (including banks, mutual sector organisations, airlines and government bodies) with access to Australia's financial system and payments landscape. For further information about Cuscal, please visit http://www.cuscal.com.au, follow us on twitter @cuscal or at http://linkedin.com/company/cuscal .
Cuscal is a founding member of the Steering Committee overseeing the New Payments Platform (NPP) industry initiative in Australia, which will facilitate the next generation of fast, versatile and data-rich payments between Australian financial institutions, consumers and businesses. Cuscal is one of 12 financial institutions that will mutually own the utility that will build and govern Australia's next generation payments infrastructure, playing a leading role alongside the country's regulators and largest banks to roll out faster payments in Australia by 2016.
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SOURCE Wirecard AG