Financial technology firm Wirecard, is partnering with Xolo, the online platform for launching and running one-person businesses, to offer revamped digital banking and accounting for the platform users.
The companies aim to tap the growth in micro-businesses and the gig economy which (according to Wirecard) is valued at $204 billion with compound annual growth rate of 17%.
Xolo offers users a holistic business platform that provides incorporation, taxation, banking and accounting services, enabling them to set up and operate a hassle-free virtual business from anywhere in the world. With Wirecard’s banking license incorporated in the service, Xolo users can virtually open a business bank account within 48 hours, receive a Wirecard-issued debit card, and be able to effectively manage their banking, tax and compliance activity via a unified Xolo operation center.
We are pleased to support Xolo’s ecosystem of business users with a streamlined and integrated payment and banking experience which will allow them the freedom to innovate and harness the success they seek.
Leonard Coen, Head of Sales, Financial Institutions & Fintech Europe, Wirecard