Wirecard issues multi-currency Visa cards for United Money, leading currency exchange company in China

Aschheim (Munich) (ots) - United Money manages around 100
exchange offices in major airports, business districts and upscale
communities in China and is serving millions of Chinese consumers
with the new solution

Wirecard, the global innovation leader for digital financial
technology, has partnered with United Money, one of China's largest
currency exchange companies, to digitize payment processes and offer
multi-currency Visa travel cards. The so-called Travel Cashcard is an
ideal alternative to traveler's checks and cash. Wirecard's solution
for United Money targets Chinese nationals who plan to travel abroad
and are seeking a widely-accepted and convenient payment method,
which can be managed via an online account. Currently, United Money
manages close to 100 exchange offices in major airports, business
districts and upscale communities nationwide and serves millions of
consumers.

Jiang Zhongmo, founder of United Money, said "We are delighted to
offer our customers a reliable and secure payment solution, which is
backed by trusted industry leaders Wirecard and Visa. As experts in
the field of foreign currency exchange, we are confident that
Wirecard's digital payment solution will fulfill the expectations of
our customers, whether they are first-time or experienced travelers.
We welcome this innovative and forward-thinking solution by
Wirecard."

The digital card supports currencies from the most-visited regions
of the world: Australia, Hong Kong, Japan, Singapore, the UK, US and
Eurozone. Consumers can load the cards before traveling, locking in
exchange rates. United Money, one of the first officially recognized
currency exchange companies in China, offers additional services in
VAT refund processing and banknotes wholesale.

"As a global company at the forefront of digital financial
innovation, we understand the barriers that are faced when paying in
a foreign currency," said Grigoriy Kuznetsov, EVP of Global Financial
Services at Wirecard. "This is why we are proud of the collaboration
with United Money, a market leader in China in the area of currency
exchange. We look forward to developing further innovative solutions
for United Money."

"Multi-currency Visa travel cards are a great option for consumers
travelling internationally who want a convenient, secure payment
alternative to cash," said Rajiv Ramanathan, Head of Products, Asia
Pacific, Visa. "Visa's role as a global payments network is about
creating the right industry standards for people to pay digitally
wherever they choose to travel, and we're proud to work with United
Money and Wirecard on this new solution."

The multi-currency cards allow users to lock in favorable exchange
rates before traveling, presenting an attractive opportunity for
millions of Chinese travelers currently fulfilled by cash or
traveler's checks. A study by Coresight Research on Chinese outbound
tourists found that foreign exchange rate fluctuations, especially
unfavorable ones, will affect frequent travelers' decisions when
choosing a destination. By using the Wirecard-issued multi-currency
Visa card, travelers can avoid this problem and take advantage of
favorable exchange rates instead.

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,
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 United Money:

United Money Exchange Co., LTD was established in August 2006 with
its headquarter located in Beijing. United Money has obtained the
license from State Administration of Foreign Exchange (SAFE), and has
become among one of the largest institutions that specialize in
currency exchange franchising business. United Money has built a wide
service network, with a presence of close to 100 branch stores in
major airports and central business districts, spanning over 13
cities across China.

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

United Money media contact:
United Money
Haiyin Li
Tel: +86 10-89920242
Email: lihaiyin@ucfgroup.com

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