Wirecard Extends Virtual Card Into Asia-Pacific

For the first time, Wirecard’s virtual cards will be offered as a way for travel suppliers in the Asia-Pacific region to get paid.

The initiative is made possible by a partnership with Conferma, Wirecard said in an announcement on Thursday (Oct. 13). Conferma offers a network of travel suppliers to facilitate payments to the vendors. Wirecard will launch its Virtual Supplier Payment Card for corporate travel payments through Conferma’s network of travel vendors, it said.

The solution supports multiple currencies and streamlines reconciliation, the firms said. The card will be offered to travel management companies on the Conferma network so they can offer their own clients a supplier payment solution.

“We were looking for a way to integrate with global distribution systems and travel management platforms that are already on the market without approaching each vendor individually,” explained Grigoriy Kuznetsov, executive vice president of global financial solutions at Wirecard. “Conferma offers a unique solution for this need and enables us to address a wide range of clients around the world through a single API integration. We are looking forward to leveraging our partnership in combination with our global issuing operations to enable virtual card payments for our joint clients across multiple geographies.”

Conferma’s virtual card delivery platform will now offer Wirecard’s virtual card solution via Wirecard’s APIs. Wirecard said that, while the partnership means its virtual card solution is now available to firms in the Asia-Pacific region for the first time, it aims to geographically expand its virtual card technology even further.

“Wirecard is an innovative and forward-thinking leader in payments,” said Conferma Director of Sales for Asia-Pacific Darren Blair in a statement. “Together, we have worked to deploy a multi-country and multi-currency tool, and we look forward to powering Wirecard’s virtual card payments and data reconciliation, expanding the solution globally.”