Wirecard and Verifone have inked a deal to expand the point-of-sale market in Asia Pacific beginning with Indonesia. As the world’s fourth most populous country, Indonesia is considered one of the largest and fastest growing markets for payment solutions according to analysts.
The five-year strategic alliance brings together the technology portfolio and geographic strengths of both companies through in-country companies like Wirecard’s PT Prima Vista Solusi and locally established Verifone teams, to enable financial institutions, retailers and various industry verticals to benefit from best-of-breed payment solutions.
Though Indonesia is largely a cash-dominated society, the payment cards market is developing significantly with payments card transaction volume increasing by about 124 percent in 2015 as compared to 2010 according to the Lafferty Group.
Through their respective subsidiaries in Asia, PT Prima Vista Solusi and Verifone Systems International, the two companies will collaborate to deliver a complete suite of payment commerce services. Wirecard will provide software platforms for payment acceptance and processing as well as in-depth market expertise.
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