Wirecard, a German financial services and technology company, has collaborated with Verifone, an e-payment transactions technology provider, to expand the point-of-sale (PoS) in Indonesian market.
Eyeing on further expansion in Asia Pacific region, the two companies have agreed to form a five-year strategic alliance and bring together the technology portfolio and geographic strengths to allow financial institutions, retailers and various industry verticals to benefit from best-of-breed payment solutions.
PT Prima Vista Solusi and VeriFone Systems International, through their respective subsidiaries in Asia, will cooperate to provide a comprehensive suite of payment commerce services.
Wirecard will deliver software platforms for payment acceptance and processing as well as in-depth market expertise.
Wirecard managing director of global point-of-sales Rudy Khowara said: "Working as a strategic development partner to Verifone, Wirecard will provide software platforms for payment acceptance and processing that run on Verifone terminals, as well as in-depth market expertise.
"Furthermore, unique segment-specific features will be created through collaboration with our extended ecosystem of clients and partners."
Verifone president of Asia Pacific Steve Aliferis said: "We are delighted to partner with Wirecard to spur the growth of new payment solutions and electronic commerce in Indonesia, where we are establishing a local team and permanent presence."
Traditionally, Indonesia has largely been a cash-dominated society. However, the payment cards market is developing considerably with payments card transaction volume increasing by about 124% in 2015 as compared to 2010, Wirecard has quoted Lafferty Group as saying.