Wirecard and OYO to collaborate to provide financial services to travellers

Wirecard, a digital financial technology company, and OYO, the hospitality business company, announced that they are exploring collaboration opportunities to provide a suite of financial services to make payments for OYO hotels and home bookings seamless and hassle-free across several regions in the world, notably, South-East Asia, Europe, UK and the USA. OYO is a constituent of the SoftBank Vision Fund which facilitated the introduction to Wirecard.

As part of the collaboration, Wirecard will look to enable OYO with a wide range of digital financial commerce related services including payment acceptance and issuance for OYO's booking services – online, mobile and point-of-sale (POS) – as well as enabling it to leverage Wirecard's banking-as-a-platform capabilities that include lending and loyalty to ensure guests booking an OYO hotel have a hassle-free payment experience.

"We are very excited to explore working with Wirecard – not only because of the all-encompassing scope of the company's set of financial service offerings but also because of its international financial payments expertise. By easing the booking experience for our customers around the world and helping create value-added offerings, Wirecard can help us come closer to our goal of becoming the most preferred and trusted hospitality brand in the world," said Maninder Gulati, Chief Strategy Officer (Global) at OYO.

"OYO has truly revolutionized the hospitality space across the globe and we are excited to be engaging with them as they take their business to the next level. The future of the travel industry is digital, with unified, integrated customer experiences across all channels – and this includes smooth and reliable digital financial processes such as we intend to provide to OYO around the world," said Georg von Waldenfels, EVP Group Business Development at Wirecard.