Wirecard signs cooperation agreement with SoftBank's Brightstar

FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder

BERLIN (Reuters) - Wirecard has signed a memorandum of understanding with SoftBank’s Brightstar and anticipates “significant transaction volume” out of the deal, the German fintech announced on Monday.

Under the agreement, digital financial services via a Brightstar platform are expected to be handled by Wirecard as the preferred payment service provider, Wirecard said.

Both companies are proactively exploring opportunities for cooperation, it said.

The company said that its strategic partner SoftBank introduced it to its U.S.-based unit Brightstar, which provides wireless telecommunications solutions for logistical services and supply chain management.

“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,” Wirecard said in a statement.

(This story corrects Reuters Instrument Code for SoftBank, paragraph 1)

Reporting by Tassilo Hummel; editing by Jason Neely