Wirecard announced an agreement with Here Mobility, a firm owned by major automakers, including Audi, Daimler and BMW, to create a partnership that will combine their respective business and consumer payments with geolocation services businesses.
The companies initially plan to integrate Here Mobility’s Marketplace into Wirecard’s digital banking and payment app, called boon.Planet. The plan would allow for additional merchant integration in the travel, hospitality and events space, including airlines, hotels, restaurants and stadiums.
The business would have access to more than 2 million vehicles in the U.S., Europe and Latin America. Wirecard, based in Germany, sees the combined business as representing a 10 billion euro ($11 billion) opportunity.
“As mobility services become a part of consumers’ daily lives, and a personal vehicle takes the back seat, we find it essential to be a part of the mobility revolution,” Michael Santer, vice president for strategic alliances at Wirecard, said in a company release. “Both Wirecard and Here Mobility will bring the best of their platforms to this cooperation and we look forward to launching new and exciting projects.”
Cover image: Here Mobility