Wirecard has expanded its customer offerings with fast, easy and fully digitized B2B loans, while Mastercard takes its QR-based mobile payments solution to Sri Lanka. And in other news, Unified Payments targets the events industry with its own integrated payments solution.
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Wirecard expands its customer offerings with digitized loans. Existing B2B customers will now be able to benefit from a flexible, fast and fully digitized loan approval process, according to the company’s blog post.
With this new enhancement, AI-based data analysis can be used for real-time evaluation. This significantly benefits those merchants with acute funding needs due to the efficiency and speed of the decision-making process, the company said.
Wirecard is the latest in a string of payments companies to offer lending.
“In recent years, Wirecard has grown from a pure payment provider to one of the leading specialists in the field of digital financial technology,” said CFO of Wirecard AG Alexander von Knoop in the same post. “As part of our global strategy, our aim is to offer the most comprehensive portfolio of digital financial services from a single source on a digital platform. The loan business, therefore, not only offers huge additional value for our customers, but also directly leverages the potential offered by a globally consistent digital platform.”
Mastercard takes its QR-based mobile solution to Sri Lanka. The solution enables shoppers to securely scan the merchant-presented QR code via their smartphone to make their payment, according to the press release. Mastercard QR can also work with existing Mastercard cards and can be integrated into existing mobile payment solutions offered by financial service providers.
“Mastercard is excited to bring Mastercard QR to Sri Lanka, one of its key focus markets in South Asia. Continuing to support the country’s ongoing efforts to encourage adoption of cashless payments, Mastercard seeks to simplify access to digital payments for businesses and consumers through this fast, secure, convenient and cost-effective solution,” said R. B. Santosh Kumar, country manager, Sri Lanka and Maldives, Mastercard, via the same release.
Unified Payments targets the events industry with integrated payments solution. The Nets Element’s subsidiary aims to enhance existing event-generated payment acceptance with integration options targeting POS systems, self-order kiosks, multi-channel payment acceptance and chargeback protection, according to the press release.
Event industry merchants in North America will now be able to benefit from Unified Payments same-day funding program Fast Pass Funding, as well as their cash payment discount program, Zero Pay, enabling merchants to keep 100% of sales revenue generated by the event.
A recent Events Industry Council report also highlighted in the same release credits the events industry with more than $330 billion in direct spending and more than $845 billion in business sales.