OYO and digital financial technology provider Wirecard have announced they are exploring opportunities to provide financial services for the India-based hotel company’s customers.
As part of the collaboration, Wirecard will look to enable OYO with a range of digital financial commerce-related services, including payment acceptance and issuance for its online, mobile and point-of-sale booking services.
OYO will also look to leverage Wirecard’s banking-as-a-platform capabilities, which include lending and loyalty, to provide a “hassle-free” payment experience for bookers.
The hotel company is a constituent of the SoftBank Vision Fund, which facilitated the introduction to Wirecard.
Maninder Gulati, global chief strategy officer at OYO, commented: “We are very excited to explore working with Wirecard – not only because of the all-encompassing scope of the company’s set of financial service offerings but also because of its international financial payments expertise. By easing the booking experience for our customers around the world and helping create value-added offerings, Wirecard can help us come closer to our goal of becoming the most preferred and trusted hospitality brand in the world.”
Georg von Waldenfels, EVP of group business development at Wirecard, added: “OYO has truly revolutionised the hospitality space across the globe and we are excited to be engaging with them as they take their business to the next level. The future of the travel industry is digital, with unified, integrated customer experiences across all channels – and this includes smooth and reliable digital financial processes such as we intend to provide to OYO around the world.”
Ready our interview with Jeremy Sanders, head of OYO Hotels & Homes UK.