Wirecard to Offer Instalment Payment Service to Shopee Users in Singapore

- Shopee users in Singapore benefit from the multi-acquirer instalment payment plan solution provided by Wirecard Asia

- Merchants and consumers profit from the flexibility, convenience and economics of the offering

ASCHHEIM, Germany, July 2, 2019 /PRNewswire/ -- Wirecard, the global innovation leader for digital financial technology, is set to launch an instalment payment plan (IPP) on Shopee, the leading e-commerce platform in Southeast Asia and Taiwan. Shopee has a wide selection of product categories ranging from consumer electronics to home & living, health & beauty, baby & toys, fashion and fitness equipment. The IPP will be rolled out to selected Shopee sellers in Singapore, who will receive full settlement upon order completion.

"We are excited to collaborate with Shopee to offer Wirecard's multi-acquirer IPP solution to customers in Singapore, enabling them to choose from any of the three local banks when purchasing online. According to latest stats, more than half of global shoppers are buying big-ticket items such as electronics online. The new feature will offer customers an easy and affordable way to indulge in their shopping pleasures, and we look forward to continually improve the payment experience for them," said Alson Lau, Head of Business Development at Wirecard Asia Pacific.

"The new solution provided by Wirecard allows users to shop without financial restraints by using their credit cards to pay for big-ticket items in fixed monthly payments. Offering an interest-free instalment plan is a win-win situation for both consumers, who can opt to spread their payments over a certain period at no additional cost, and sellers, who will still receive the full settlement upon order completion. This new feature will give users more flexibility and options, improving the end-to-end shopping experience," said Zhou Junjie, Chief Commercial Officer at Shopee.

The new feature enables customers in Singapore to pay for big-ticket items on Shopee and is available to all users who hold a credit card from any of the three local banks. Shopee users can choose to pay for purchases in fixed monthly payments over periods of 6 or 12 months. Customers purchasing from selected retailers on Shopee with a minimum transaction of SGD200 will be eligible for the IPP.

Shopee will run a campaign locally called 7.7 on July 7, with 0% Instalment Payment, where users can look forward to exclusive deals and promotions. In line with the campaign, Shopee will be rolling out the IPP solution to selected retailers, providing additional convenience and flexibility to its customers.

About Wirecard:

Wirecard (GER: WDI) is one of the world's fastest growing digital platforms in the area of financial commerce. We provide both business customers and consumers with a constantly expanding ecosystem of real-time value-added services built around innovative digital payments by using an integrated B2B2C approach. This ecosystem concentrates on the areas payment & risk, retail & transaction banking, loyalty & couponing, data analytics & conversion rate enhancement in all sales channels (online, mobile, ePOS). Wirecard operates regulated financial institutions in several key markets and holds issuing and acquiring licenses from all major payment and card networks. Wirecard AG is listed on the Frankfurt Stock Exchange (DAX and TecDAX, ISIN DE0007472060). Visit us on www.wirecard.com, follow us on Twitter @wirecard and on Facebook @wirecardgroup.

About Shopee: 

Shopee is the leading e-commerce platform in Southeast Asia and Taiwan. It is a platform tailored for the region, providing customers with an easy, secure and fast online shopping experience through strong payment and logistical support. Shopee aims to continually enhance its platform and become the region's e-commerce destination of choice.

Shopee has a wide selection of product categories ranging from consumer electronics to home & living, health & beauty, baby & toys, fashion and fitness equipment.

Shopee, a Sea company, was first launched in Singapore in 2015, and has since expanded its reach to Malaysia, Thailand, Taiwan, Indonesia, Vietnam and the Philippines. Sea is a leader in digital entertainment, e-commerce and digital financial services across Southeast Asia. Sea's mission is to better the lives of consumers and small businesses with technology, and is listed on the NYSE under the symbol SE.

Wirecard media contact:
Wirecard AGJana Tilz
Tel.: +49(0)89-4424-1363
Email: [email protected] 

Shopee media contact:
Shopee Singapore Private Limited
Elissa Young
Tel.: +65-9226-4022
Email: [email protected]