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06.20.17

Wirecard Lends Speed, Functionality to Partner VEON

Amsterdam-based mobile network operator and technology company VEON has partnered with Wirecard AG as part of a global payments and processing agreement. Wirecard, a Germany-based provider of global payments solutions, now manages third-party payments functionality and airtime top-up on VEON’s Internet platform, enabling customers to upload funds and update mobile payment accounts within seconds, according to an announcement.

VEON, formerly VimpelCom, launched its Internet platform late last year. The platform uses data analytics and artificial intelligence to offer customers personalized features, including financial services and entertainment. The company says the partnership with Wirecard will continue to grow as VEON expands its footprint into new markets this year—Russia, Georgia and Bangladesh among them. VEON currently has more than 235 million mobile customers across 13 markets in Europe, Asia and Africa.

“Easy mobile payments are essential in the fast growing frontier markets,” said Jan Marsalek, Wirecard chief operating officer. “With our new airtime top-up solution and third-party payment functionality, consumers will be able to upload and spend money more efficiently than ever before.”

While VEON takes steps toward expanding the availability of its services, Wirecard, a 2017 Pay Awards Best-in-Category winner for Change Agent of the Year, recently has been expanding through acquisition. In March, Wirecard finalized its acquisition of Citi Prepaid Services. The deal expands Wirecard’s prepaid payment processing business in North America. Wirecard also acquired Cape Town, South Africa-based MyGate Communications, a payment service provider in Africa that operates one of the continent’s largest and fastest-growing online payment gateways, according to the announcement.

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