Wirecard integrates fintech solutions with Oyo

Wirecard is looking for ways to integrate innovative fintech services and solutions with Oyo, with help from a strategic partnership with Softback.

Wirecard, a 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.

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