Softbank brokers Wirecard collaboration with wireless tech firm
Softbank is following an investment in Wirecard by adding the company's services to Brightstar, a Softbank subsidiary that distributes and manages wireless devices.
Under the terms of a memorandum of understanding, Wirecard will be the preferred payment service provider for Brightstar’s corporate operations in 50 countries, according to a release.
Softbank became a strategic partner of Germany-based Wirecard earlier this year, and proposed the new collaboration. The Florida-based Brightstar, founded in 1997, distributes and manages about 100 million new and used wireless handsets each year, working with wireless carriers, retailers and enterprises.
Working with Wirecard would expand consumers’ financing options, enabling them to upgrade to new smartphones faster, according to the release.