German financial services provider Wirecard has signed a memorandum of understanding (MOU) with Brightstar to digitalise financial processes across the world.
Brightstar is a mobile services company that manages devices and accessories and handles more than 100 million devices per year, across 50 countries. SoftBank Group, its parent company, which is a strategic partner of Wirecard, supported Brightstar on the collaboration.
Brightstar EMEA president David Nanayakkara said: “As a global mobile services company, we aim to bring the latest technology to as many users as possible. Through our collaboration with Wirecard we plan to expand our already wide-ranging service offering, and continue providing the most innovative services to our customers worldwide.
“We are excited to work with Wirecard, a company that complements our global reach and digital innovation ambitions.”
The MOU will focus on digitalisation opportunities
As per the MOU terms, Wirecard will handle digital financial services via Brightstar platform as the preferred payment service provider. The two companies will also explore opportunities for cooperation to support digitalisation endeavours.
Wirecard and Brightstar plan to collaborate in the areas of digital consume lending, payment acceptance processing card issuing for the retail channel.
The co-operation is expected to support consumers in upgrading their smartphone devices more quickly. The collaboration is expected to bring significant transaction volume, Wirecard said.
Wirecard group business development executive vice president Georg von Waldenfels said: “We are looking forward to working together with Brightstar and exploring areas around digital payment and financing where we can cooperate strategically.
“Together, we expect to bring a variety of new solutions to the mobile services market on a global scale and we anticipate significant transaction volume out of this deal.”
Last month, the German financial services provider partnered with WHSmith, a news and books retailer, to expand its digital payment acceptance capabilities in e-commerce.
WHSmith has more than 1,600 stores across the world in airports, hospitals, train stations and highway service areas, as well as on most UK high streets.
