Wirecard, the global innovation company for digital financial technology and OYO, the hospitality business chain, have announced that they are exploring collaboration opportunities to provide a suite of financial services to make payments for OYO hotels and home bookings seamless and hassle-free across several regions in the world, notably, South-East Asia, Europe, UK and the US.

OYO is a constituent of the SoftBank Vision Fund which facilitated the introduction to Wirecard. As part of the collaboration, Wirecard will look to enable OYO with a wide range of digital financial commerce related services including payment acceptance and issuance for OYO’s booking services – online, mobile and point-of-sale (POS)– as well as enabling it to leverage Wirecard’s banking-as-a platform capabilities that include lending and loyalty to ensure guests booking an OYO hotel have a hassle-free payment experience.

“Create value-added offerings.”

OYO provides quality living spaces for business and leisure travellers by leveraging its core capabilities of broad reach and efficient renovations, superior guest experiences, technology-based operations and independent distributions. Currently, OYO has an international presence with its hotels and homes business spread across the Indian subcontinent, China, South-East Asia, UAE, Saudi Arabia, Europe, the US and many other countries with a portfolio that comprises more than 23,000 hotels and 125,000+ vacation homes in 800 cities in 80 countries.

“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,” said Maninder Gulati, chief strategy officer at OYO.

“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,” said Georg von Waldenfels, executive vice president of business development at Wirecard.