Wirecard launches digital disbursements in the Philippines
Wirecard’s platform for delivering corporate disbursements is expanding to the Philippines.
The German company is launching a payout system for corporations to deliver refunds, incentives and rewards to Philippine consumers and small businesses online or through an app, Wirecard said in a Friday press release.
The move follows Wirecard’s recent acquisition of an e-money license in the Philippines, and builds on the company’s development of a U.S. corporate disbursement payout network used to deliver payouts in the telecom and cable TV industries, Wirecard said in the release. Wirecard noted its solution in the Philippines targets government and corporate customers.
In the Philippines, Wirecard’s service enables payees to receive and spend funds online and at the POS, using a prepaid debit card loaded with funds they are owed by government or corporate payers. Wirecard is also developing an app to support these payouts, according to the release.
“Launching Wirecard’s payout solution in the Philippines will help our customers not only be more efficient, but also bring cashless payments to more individuals,” said Arne Matthias, Wirecard’s executive vice president of issuing, in the release.