Wirecard, a German financial services and technology company, has collaborated with Australia-based payment services company Cuscal to launch its merchant acquiring services in Australia.
Cuscal will serve as an acquiring BIN sponsor for Wirecard’s merchant acquiring services, which includes use of Wirecard’s proprietary omnichannel payment processing platform to receive credit and debit card transactions in the country.
The partnership will enable Wirecard to offer Australian and global merchants with Australian footprint and the efficient method of online payment processing, ranging from e-Commerce to POS, to mPOS solutions.
Additionally, Wirecard’s offer can be customised to meet the requirements of each merchant, improving conversion rates at the checkout. The company also enables merchants such as airlines, fintechs and the retailers to digitalise payments and the whole shopping experience.
Besides merchant acquiring, the partnership will soon foray into card issuance, whereby Wirecard will provide the whole payment value chain to its Australian customers.
The German firm will issue traditional and virtual prepaid cards and manage payment processing to risk management and mobile payment solutions.
Cuscal product and service acting general manager Colin Sultana said: “We’re really pleased to be supporting Wirecard in Australia. We’re all about using our expertise and scale to help existing companies grow as well as to support new companies to enter the market.
“By working with companies like Wirecard we’re driving competition in payments, increasing innovation and giving businesses greater choice which will ultimately benefit everyone.”