Wirecard partners with YES BANK, India's fourth largest private sector bank, to continue driving financial inclusion

Aschheim (Munich)/Chennai (ots) -

- Wirecard retail agents provide essential digital financial services
to customers India-wide
- The partnership will expand the scope of a biometric payment system
developed by the National Payments Corporation of India

Wirecard, the global innovation leader for digital financial
technology, announced today a partnership with YES BANK, India's
fourth largest private sector bank, to continue driving financial
inclusion in the country. The partnership will expand the scope of
India's Aadhaar Enabled Payment System, a biometric digital payment
system developed by the National Payments Corporation of India. As a
result, digital payments and banking transactions will be more
readily accessible to Indian residents, including those living in
remote areas.

From now on, Wirecard retail agents in India will be supported by
YES BANK's infrastructure and will serve as customer representatives
India-wide to provide essential financial services, such as cash
withdrawals and deposits, bank-to-bank transfers, and balance
inquiries, to customers. Millions of consumers will benefit from
daily financial services, which they quickly approve with their
fingerprint.

Wirecard provides consumers daily with access to affordable
digital financial services such as ticketing, mobile top-up,
insurance or logistics through its nation-wide retail agent network
and offers hundreds of thousands of retailers the opportunity to earn
extra money by driving financial inclusion in India. Earlier this
year, Wirecard started a similar successful partnership of this kind
and now continues to offer a wide range of digital financial services
together with YES BANK.

"Financial inclusion and digital payment are core focus areas for
YES BANK and we remain committed to the twin national agenda of
Financial Inclusion and Digital India. Through our partnership with
Wirecard, we will further proliferate AEPS-based cash withdrawal
services, which serve a large part of India's population residing in
semi-urban and rural areas," commented Mr. Ritesh Pai, Chief Digital
Officer at YES BANK. "The Bank continues to take strides towards
improving last mile inclusion and be at the forefront of the
financial inclusion movement in India. We look forward to developing
our partnership with Wirecard and offer progressive digital payment
solutions across India."

"We are delighted to partner with YES BANK and empower residents
of India, especially those who live in rural areas and cannot easily
access financial institutions, with the tools to manage their
finances in an efficient and secure way," added Anil Kapur, Managing
Director India at Wirecard. "Our wide ranging retail agent network
has once again proven to be an ideal solution for companies and
industries in India seeking a nationwide service provider for their
digital financial needs."

The Aadhaar Enabled Payment System is based on the Aadhaar system,
an initiative on behalf of the Government of India to issue a unique
identity number for each resident with the aim of promoting social
and financial inclusion, public sector delivery reforms, and managing
fiscal budgets, among others. As of July 2019, more than 1.2 billion
residents have been equipped with a biometric Aadhaar identification,
and as a result it is considered to be one of the most reliable
identity documents in India.

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.

About YES BANK:

YES BANK, India's fourth largest private sector bank is a high
quality, customer centric and service driven Bank. Since inception in
2004, YES BANK has grown into a 'Full Service Commercial Bank'
providing a complete range of products, services and technology
driven digital offerings, catering to corporate, MSME & retail
customers. YES BANK operates its Investment banking, Merchant banking
& Brokerage businesses through YES SECURITIES and its Mutual Fund
business through YES Asset Management (India) Limited, both wholly
owned subsidiaries of the Bank. Headquartered in Mumbai, it has a
pan-India presence across all 29 states and 7 Union Territories in
India including an IBU at GIFT City, and a Representative Office in
Abu Dhabi.

Wirecard media contact:

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

Original-Content von: Wirecard AG, übermittelt durch news aktuell