September 16, 2019 / 5:03 AM / a month ago

Wirecard says broadens strategic alliance with UnionPay

FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder/File Photo

FRANKFURT (Reuters) - German payments company Wirecard said on Monday that it had signed a memorandum of understanding to expand its strategic partnership with UnionPay, the Chinese payment card issuer.

The alliance seeks to boost Wirecard’s presence in China and aid the international expansion of UnionPay, which has issued 7.6 billion payments cards worldwide, Wirecard said in a statement.

Reporting by Patricia Uhlig; Writing by Douglas Busvine; Editing by Riham Alkousaa

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