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  • Payment
  • International

Wirecard and HERE Team Up on Crafting Payment and Mobility-Related Solutions

FACTS

  • HERE Mobility –mobility-focused commercial unit from HERE Technologies– and the German payment specialist Wirecard announced a strategic partnership.
  • Goal: jointly craft B2B2C payment and mobility services.
  • Wirecard and HERE Mobility are working on several projects capitalising on their existing payment and geolocation services.
  • Their first project will consist in integrating HERE Mobility’s Marketplace with boon Planet, payment and e-banking app by Wirecard.
  • boon Planet’s users will then be able to search, book and pay for their trips from HERE Mobility’s Marketplace, without leaving Wirecard’s app.
  • They also plan on building solutions for merchants in the travel and leisure industries, as well as expanding the reach of the partnership through the addition of as a Wirecard payment service provider for HERE Mobility.
  • Ambition: Wirecard deems that this project could entail a €10 billion opportunity.

CHALLENGES

  • Promising market. According to Statista, the market for mobility-related services in Europe could be worth over €400 billion by 2030. In China, this industry could represent €580 billion.
  • Competition. In this context, more Mobility-as-a-Service (MaaS) solutions keep surfacing, including platforms enabling individual users to book alternative mobility solutions. HERE Mobility intends to take part in this revolution.
  • HERE Mobility was launched in January 2018. Their Marketplace counts more than 2 million vehicles in more than 500 towns in Europe, in the US and in Latin America. They bet on their partnership with Wirecard to further expand their reach.

MARKET PERSPECTIVE

  • In June this year, the German group unveiled a new range of banking products called boon Planet. The point would be to build a European challenger bank since boon is featured in several countries.
  • Just months ago, Wirecard announced a strategic partnership with the car maker Rinspeed. This German FinTech focuses on implementing payment services in autonomous concept vehicles.
  • HERE Mobility already teamed up with another payment group, Mastercard, on designing on-the-go services for mobile connected customers.