Wirecard and OYO, One of the World's Largest Hospitality Chains, Exploring Collaboration on a Global Scale

ASCHHEIM, Germany, Aug. 20, 2019 /PRNewswire/ -- Wirecard, the global innovation leader for digital financial technology, and OYO, the fast-growing hospitality business and world's third largest hotel chain by room count, today 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.

OYO provides quality living spaces for business and leisure travelers by leveraging its core capabilities of broad reach and efficient renovations, superior guest experiences, technology-based operations and independent distributions. Currently, OYO has an international presence with its hotels and homes business spread across the Indian subcontinent, China, South-East Asia, UAE, Saudi Arabia, Europe, USA and many other countries with a portfolio that comprises more than 23,000 hotels and 125,000+ vacation homes in 800 cities in 80 countries.

"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.

About Wirecard:

Wirecard WDI is one of the world's fastest growing digital platforms in the area of financial commerce. We provide both business customers and consumers with a constantly expanding ecosystem of real-time value-added services built around innovative digital payments by using an integrated B2B2C approach. This ecosystem concentrates on the areas payment & risk, retail & transaction banking, loyalty & couponing, data analytics & conversion rate enhancement in all sales channels (online, mobile, ePOS). Wirecard operates regulated financial institutions in several key markets and holds issuing and acquiring licenses from all major payment and card networks. Wirecard AG is listed on the Frankfurt Stock Exchange (DAX and TecDAX, ISIN DE0007472060). Visit us on www.wirecard.com, follow us on Twitter @wirecard and on Facebook @wirecardgroup.

About OYO Hotels & Homes:

Opening its doors in 2013, OYO Hotels & Homes is the world's third-largest chain of hotels, homes, managed living and workspaces. The portfolio combines fully operated real estate comprising more than 23,000 hotels and 125,000 vacation homes. OYO along with Vacation Homes categories managed by the company under OYO Homes, Belvilla and Dancenter brands can be found in more than 800 cities in 80 countries, including the U.S., Europe, U.K., India, Malaysia, Middle East, Indonesia, Philippines, and Japan. For more information, log onto https://www.oyorooms.com/

Wirecard media contact:
Wirecard AG
Jana Tilz
Tel.: +49(0)89-4424-1363
Email: jana.tilz@wirecard.com

OYO Hotels & Homes media contact:
OYO
Shonali Chakravarty
Email: shonali.chakravarty@oyorooms.com / press@oyorooms.com

SOURCE Wirecard AG