Wirecard will manage the technical processes for issuing the Telekom MasterCard
Deutsche Telekom has selected electronic payment and risk management applications provider Wirecard for the implementation of its mobile payment strategy.
Under the agreement, Wirecard will manage the technical processes for issuing the Telekom MasterCard and will also support Deutsche Telekom in processing payments.
Implementation of Wirecard guarantees enhanced quality and security of the payment process, the company said.
Deutsche Telekom Business Unit Payment senior vice president Peter Vesco said: "With the technical implementation of online, store-based and mobile payment in the safe and experienced hands of specialist Wirecard, we can concentrate on our core business."
Wirecard will provide the technical infrastructure for the payment card, which will be launched on the German market at the end of the year as well as cover the planned launch of Deutsche Telekom’s Mobile Wallet in 2013.
Wirecard provides mobile payment services, including classic and contactless cards, NFC stickers, and real-time provision of virtual cards for NFC-compatible smartphones.