TransferWise, which recently added a consumer-targeted account to its business-to-business services, has selected Wirecard to issue a cross-border debit card for consumers.
Wirecard piloted London-based TransferWise's debit cards with a limited rollout to 1,000 TransferWise customers in January of this year and plans to roll the cards out broadly later this year, according to a Monday press release.
The “borderless” account offers multi-country banking to consumers, a service previously available only to businesses, TransferWise said in the release.
“Our mission is to make money move without borders, and the borderless debit card is a vital step in bringing that mission to a wider audience,” said Jeremy Buttner, TransferWise’s lead for borderless banking, in the release.
Added Tom Jennings, Wirecard’s managing director: “TransferWise was looking to extend their borderless account by adding a multi-currency debit card and this will allow customers access without any hidden charges.”