International electronic payments firm Wirecard has introduced a new internet payment service in association with MasterCard.
Thanks to the agreement, consumers holding a wirecard, a product of Wirecard Bank AG, are now able to securely pay at all MasterCard acceptance agents on the internet.
Consumers automatically receive a Wirecard bank account funded by direct debit or a bank wire when they sign up. Once the account reaches a positive balance, the consumer will receive a ‘virtual’ MasterCard.
The ‘virtual’ MasterCard allows Wirecard to provide merchants that accept MasterCard with an easy and cost-efficient way to receive payments by wire transfer or direct debit.
The electronic payments provider has forecast positive effects on turnover and earnings in 2007 from the introduction of the new wirecard.