Wirecard Launches Alipay for Schustermann & Borenstein

MUNICH, September 25, 2017 /PRNewswire/ --

• Operator of the leading e-commerce platform Best Secret expands collaboration for retail as well 
• Chinese tourists will be able to use their trusted digital payment methods in time for "Golden Week" 

The leading digital payment service provider Wirecard is further expanding its long-standing collaboration with the international fashion company Schustermann & Borenstein. The major textile retailer and exporter has already been using Wirecard's comprehensive acquiring services for its renowned online platform Best Secret for the past five years. Wirecard services include: a credit card acceptance contract, Fraud Prevention Suite, SEPA direct debits and purchase on account. The payment expert is now also introducing Alipay as a payment method in the firm's fashion stores in Munich and Vienna as part of an additional contract with the parent company Schustermann & Borenstein.

In the future, Chinese tourists will be able to pay using Alipay in Schustermann & Borenstein branches in Munich and Dornach as well as at the flagship S&B store in Vienna/Vösendorf. Wirecard will handle POS integration via the Scan Alipay app. Thus, Schustermann & Borenstein are offering Chinese tourists their preferred payment option just in time for Golden Week, which begins at the start of October, a time when Chinese people traditionally do a lot of travelling.

Each year, two million Chinese tourists travel to Germany and spend on average EUR 500 per day on shopping during a typical holiday. Alipay is the number one mobile payment solution in China, with over 520 million users and more than 100 transactions per day. As such, Alipay presents a great opportunity in Europe to win over new, wealthy customers from China because in addition to its payment features, Alipay also functions as a marketing channel and store finder.

CEO Daniel Schustermann: "For years now, we have noticed that shopping at our branches is becoming more and more popular among foreign tourists. This is why we are delighted to now expand our current collaboration with Wirecard and we look forward to being able to offer Chinese customers Alipay, a familiar and trusted payment method."

Christian Reindl, Executive Vice President Sales Consumer Goods at Wirecard: "We are delighted to now expand our joint cooperation to include physical stores and to offer Alipay quickly and inexpensively at Schustermann & Borenstein via our scanning app solution."

Wirecard media contact:

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

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.

Schustermann & Borenstein media contact:

Schustermann & Borenstein GmbH
Dr. Irene Kiefer
Tel.: +49-89-242410-1191
irene.kiefer@schustermann-borenstein.de

About Schustermann & Borenstein: 

Schustermann & Borenstein was founded in 1924 in Munich and today is an international fashion group. The company, which is still family-owned by the third generation, operates fashion stores for a closed circle of members in Germany and Austria. Together with its wholly owned online subsidiary BestSecret, the Group sells over 3,000 designer brands, making Schustermann & Borenstein Europe's leading e-commerce platform for designer fashion.

SOURCE Wirecard AG