Wirecard digitizes payment processes for LATAM Airlines

Aschheim (Munich) (ots) -

- Wirecard reduces cash handling at airports for Latin America's
largest airline
- Payout cards provide passengers with quick and hassle-free
compensation

Wirecard, the global innovation leader in digital financial
technology, will enable the LATAM Airlines Group, Latin America's
largest airline with a current fleet of 312 aircraft and 67 million
passengers a year, to offer passengers quick and hassle-free
compensation using payout cards in the event of flight disruptions or
delay, without cash handling. As of now, affected LATAM Airlines
passengers at numerous European airports will receive IROP (Irregular
Operations) cards issued by Wirecard to compensate for any
disruptions on their journey.

IROP cards enable LATAM passengers to receive compensation for
unforeseen circumstances not only quickly and easily, but also in
line with the legal regulations that apply in each case. These payout
cards are issued to affected passengers and digitally loaded with the
applicable amount. Before, large sums of cash had to be dealt with
and lengthy, sometimes expensive, transfers had to be carried out.
Now, these intuitive payout cards are the perfect compensation
alternative for the airline. Passengers can use them to withdraw
cash, pay at the point of sale and for online shopping.

Sandra Schlebusch, Finance Manager Europe at the LATAM Airlines
Group, said, "Delays and disruptions can never be completely avoided
in air travel. In these cases, it is very important to us that we
quickly help affected passengers without any unnecessary bureaucracy.
The new IROP cards that Wirecard has developed for us are the perfect
solution on account of their settlement flexibility. Wirecard's
expertise in digital payment was an essential factor in successfully
establishing the solution."

Jörg Möller, EVP Sales Travel at Wirecard, added, "The
digitization of the airline industry is a major driver of growth. As
a result, passenger expectations have significantly risen. Therefore,
particularly with regards to a good customer experience, it is
important for airlines to offer their customers modern digital
solutions with clear added value. The airlines themselves are also
benefiting enormously from the launch of IROP cards as they are
saving a great deal of time in terms of administration, which results
in cost savings as well. We are delighted to be digitizing payment
processes for the LATAM Airlines Group."

According to current predictions, the number of flight passengers
will nearly double to 7.8 billion worldwide by the year 2036. As
passenger numbers rapidly grow, the risk to airlines of delays and
cancellations grows with it. As a result, a hassle-free compensation
process is currently an important defining characteristic in a very
competitive market environment.

A quickly reloadable prepaid card is also a practical solution for
airline employees: As well as IROP cards, Wirecard also offers "Crew
Cards", with which travel expenses can be paid quickly and directly
to flight attendants and pilots.

About Wirecard:

Wirecard (GER:WDI) is one of the world's fastest growing digital
platforms in the area of financial commerce. We provide both
corporate clients 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 solutions in the areas payment and risk, retail and
transaction banking, loyalty and coupon programs in addition to data
analytics and conversion rate enhancement across all sales channels
(online, mobile, ePOS). Wirecard operates regulated financial
institutions in several key markets, in addition to holding 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 LATAM Airlines Group S.A.:

LATAM Airlines Group is Latin America's leading airline group with
one of the largest route networks in the world, offering air services
to around 140 destinations in 25 countries, and is present in six
domestic markets in Latin America: Argentina, Brazil, Chile,
Colombia, Ecuador and Peru, in addition to its international
operations in Europe, the United States, the Caribbean, Oceania and
Africa. The Group employs over 40,000 people worldwide, operating
more than 1,300 flights per day and transporting 68 million
passengers per year. LATAM Airlines Group has a young and modern
fleet. Its 312 aircraft average an age of around seven years and
feature the latest models including the Boeing 787, Airbus A350, A321
and A320neo. LATAM Airlines Group is the only airlines group in the
Americas and one of three worldwide to be part of the Dow Jones
Sustainability 'World' Index. In 2018, it was recognized by the index
for sustainable practices, based on economic, social and
environmental criteria, for the fifth consecutive year. LATAM
Airlines Group shares are traded on the Santiago Stock Exchange and
the New York Stock Exchange in the form of ADRs. For any commercial
or brand related query, visit www.latam.com. Further financial
information is available via www.latamairlinesgroup.net.

Wirecard media contact:

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

LATAM Airlines Group S.A. media contact:

Email: comunicaciones.externas.eu@latam.com

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