SoftBank agreed to make a substantial investment in Germany-based digital payment provider Wirecard and announced plans to work with the company on its launch into Japan and South Korea.
The two will also collaborate on data analytics, AI and other technologies which could be used in digital financial services. They will also explore opportunities in the digital loan market.
SoftBank’s investment will take the form of convertible bonds and is subject to approval by Wirecard shareholders at its AGM on 18 June.
Wirecard provides white label digital and contactless payment system, and runs its own mobile and wearable payment brand, Boon.
It has contracts in place with a number of notable providers including Fitbit and Garmin.
Wirecard CEO Markus Braun said: “In SoftBank we have found a partner that shares both our passion for new technologies and drive to spearhead the latest innovations, all on a global scale.”Subscribe to our daily newsletter Back