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Technology provider for Twisto to offer contactless payments

Technology provider for Twisto to offer contactless payments

Banking & FinanceMobileRegional NewsTop Stories

Wirecard, the leading global specialist for digital payment solutions and internet technology, cooperates with Twisto to provide contactless payments via credit cards and wristbands at the point of sale (POS) in the Czech Republic. Twisto is the first FinTech company providing physical credit card payments in the region. The company was awarded as ‘Best European Payments & Transfers Company 2017’ by European FinTech Awards 2017. After Twisto’s success in the field of e-commerce with ‘buy now, pay later solution’, the company now expands its services by offering contactless payments for physical retail. As Twisto’s official partner, Wirecard is responsible for the issuance of cards and wristbands.

Despite the boom of e-commerce in the Czech Republic, around 90 percent of sales still happen in physical retail stores. Recognising this trend, the FinTech company Twisto decided to extend its services with the launch of the Twisto Card linked to a mobile app. The new contactless payment solution ‘Twisto Card’ will be integrated into Twisto’s mobile app, which gives customers up to 45-day interest free credit for their payments. The app allows customers to get instant payment notifications and automatic transaction categorisation making the payment management quick and transparent, block card directly from the app or save money with integrated cashback offers.

Michal Smida, CEO at Twisto said, “At Twisto, we are on a mission to provide simple and fair daily financing solutions for the online generation. After our success with online credit offering, we will now be able to provide instant credit everywhere and serve even greater customer audience. Wirecard’s expertise as well as its extensive experience in various mobile payment projects demonstrates that our new partner is uniquely positioned to support us with best issuing solutions and state-of-the-art technology.”

Thorsten Holten, Executive Vice President Sales Financial Institution and FinTech Europe, comments, “We delightedly announce our new strategic partnership with Twisto. This payment solution is a perfect example of how modern online payments at the POS are working nowadays. We are looking forward to future extension of our collaboration to other European countries.”

The new credit card solution allows end-customers to use Twisto instant credit line everywhere. Twisto has been providing online payments for customers since 2013 and became one of the fastest growing payment providers in the Czech Republic. Since start, Twisto served over 200,000 high-quality customers who will be offered the Twisto Card.

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