German fintech company Wirecard has entered into a memorandum of understanding with Brightstar, a device lifecycle management company, to collaborate in the areas of digital consumer lending, payment acceptance processing and card issuing for the retail channel.

The cooperation is expected to help Wirecard increase its transaction volume and consumers upgrade their smartphone devices more quickly.

Commenting on the cooperation deal with the German fintech company, David Nanayakkara – EMEA President, Brightstar said: “As a global mobile services company, we aim to bring the latest technology to as many users as possible.

“Through our collaboration with Wirecard we plan to expand our already wide-ranging service offering, and continue providing the most innovative services to our customers worldwide.

“We are excited to work with Wirecard, a company that complements our global reach and digital innovation ambitions.”

Wirecard as the preferred payment service provider will handle digital financial services through the Brightstar platform as part of the agreement.

Georg von Waldenfels – EVP Group Business Development, Wirecard said: “We are looking forward to working together with Brightstar and exploring areas around digital payment and financing where we can cooperate strategically.

“Together, we expect to bring a variety of new solutions to the mobile services market on a global scale and we anticipate significant transaction volume out of this deal.”

Brightstar, a subsidiary of SoftBank Group, handles more than 100 million devices every year, across 50 countries.

Wirecard offers services to both business customers and consumers in the areas of payment and risk, retail and transaction banking, loyalty and couponing, data analytics and conversion rate enhancement in all sales channels, namely online, mobile and ePOS.

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  Brightstar, David Nanayakkara, Fintech industry news, Georg von Waldenfels, SoftBank Group, Wirecard