Wirecard has signed a Memorandum of Understanding (MoU) with device lifecycle management provider Brightstar in a bid to partner and create solutions in areas such as digital consumer lending, payment acceptance processing, and card issuing.

David Nanayakkara, EMEA President at Brightstar commented, “As a global mobile services company, we aim to bring the latest technology to as many users as possible. Through our collaboration with Wirecard we plan to expand our already wide-ranging service offering and continue providing the most innovative services to our customers worldwide. We are excited to work with Wirecard, a company that complements our global reach and digital innovation ambitions.”

According to the supplier, the MoU will enable Wirecard to handle the digital financial services through Brightstar’s platform, thereby becoming the preferred payment service provider. The partnership is expected to enable both the companies to cooperate in their digitalization endeavors.

“We are looking forward to working together with Brightstar and exploring areas around digital payment and financing where we can cooperate strategically. Together, we expect to bring a variety of new solutions to the mobile services market on a global scale and we anticipate significant transaction volume out of this deal,” added Georg von Waldenfels, EVP Group Business Development at Wirecard.

Recently, Wirecard partnered with hospitality business provider OYO with an aim to facilitate payment services and bookings for OYO hotels across Asia, Europe, UK, and the USA.

Established in 1997, Brightstar is a subsidiary of SoftBank Group Corp. and is a mobile services company for managing devices and accessories across the wireless ecosystem.

by Megha Bhattacharya
Market Analyst at IBS Intelligence