|Traded as||FWB: WDI|
(Until 6 April 2005)
|Markus Braun (CEO)|
(Chairman of the supervisory board)
|Products||Electronic payment processing|
|Revenue|| €2.02 billion |
(US$2.31 billion) (2018)
| €347.4 million |
(US$397.7 million) (2018)
|Total assets|| €5.855 billion |
(US$6.697 billion) (2018)
Number of employees
|5,300 (Jun 2019)|
Wirecard AG is a global internet technology and financial services provider which is listed on the German stock exchange (DAX) and is headquartered in Aschheim, district of Munich. The company offers its customers electronic payment transaction solutions[buzzword] and risk management, as well as the issuing and processing of physical and virtual cards.
Wirecard Card Solutions Ltd. (WDCS) is a wholly owned subsidiary headquartered in Newcastle upon Tyne, with an e-money licence which allows it to issue virtual cards. It provides numerous mobile payment solutions,[buzzword] such as Orange Cash and Wirecard's own mobile payment solution[buzzword] boon.
The subsidiary Wirecard Bank AG holds a German banking licence, in addition to licences from Visa and Mastercard. Moreover, it has contracts with American Express, Discover/Diners, JCB, Alipay, WeChat Pay, Apple Pay and China UnionPay, among others.
In March 2017, Wirecard acquired Citi Prepaid Card Services and created Wirecard North America, introducing its internet technology, issuing and acquiring solutions[buzzword] and omnichannel payment solutions[buzzword] to the US market.
Products and services
Wirecard is an international supplier of electronic payment and risk management solutions.[buzzword] Wirecard offers products and services in the areas of mobile payments, e-commerce, digitization and finance technology. This traditionally comprises the integration of payment methods, payment transactions via e-commerce as well as payment transactions at the stationary checkout (POS). In these areas, Wirecard currently works in cooperation with 280,000 companies (as of December 2018), including Allianz, KLM, Qatar Airways, Rakuten.com and Transport for London, among others. The transaction volume in 2018 was US$125 billion. In the first half of 2019 the transaction volume grew by 37.5 percent to EUR 77.3 billion.
Since 2015, Wirecard offers consumers the fully digitalized, mobile payment-app boon., which works independently of banks or network operators. boon. is based on a virtual Mastercard and runs on mobile devices with the Android or iOS operating systems. The Android version is currently available in Germany, Austria, Belgium, the Netherlands, Spain and Ireland. In addition, boon. can be used via Apple Pay in France, Great Britain, Switzerland, Spain, Italy, Ireland and Germany. Google Pay supports boon. in France. boon. offers contactless payments via smartphone and tablet through NFC as well as online payments and peer-to-peer transactions.
In the mobile payments sector, Wirecard has negotiated several contracts with telecommunications providers for technical services with regard to mobile smartphone payments based on near-field communication (NFC). The payment processor offers its partners a mobile card reader as a white label programme for the acceptance of card payments via smartphones or tablets.
In terms of acquiring, one focus is travel and transport. Already in 2007, Wirecard took over payments and credit control for the tour operator TUI, and in 2014 for KLM Royal Dutch Airlines. The product Supplier and Commission Payments (SCP) by Wirecard is also made to measure the travel sector. It is based on the automatic output of virtual credit cards and enables electronic payments to partners and suppliers, for instance for commission payments. In this way international payments can be made via electronic transmission of virtual credit card numbers.
Since 2014, Wirecard has offered its Checkout Portal – a fully automated solution[buzzword] for easily connecting different payment methods in online shops, with a focus on SMEs and virtual marketplaces.
Digitalization of the retail sector
Wirecard also supports high-street retail with digitisation; an example of this is the collaborative project with T-Systems. In 2016, together with the WMF Group, Wirecard developed a mobile app which connects store purchases with online sales.
Alternative Chinese payment methods
Wirecard has been collaborating with Alipay since 2015, to offer Chinese tourists a familiar payment method during their travels in Europe. As part of this, Wirecard has integrated this alternative payment method into the till systems of retailers such as Printemps, The Body Shop and The National Bank of Greece. The payment procedure has also been integrated with retailers at Munich Airport.
Many FinTech companies work with Wirecard, for instance, using their banking licence. Some well-known partnerships include: Curve, Funding Circle; start-up banks such as Atom and Tandem; money apps including Revolut, Monese and Pockit; spending management apps such as Loot, U Account and Soldo and business accounts like Tide.
mycard2go has been part of Wirecard Bank's portfolio since 2010. It is a prepaid card which can be purchased in stores and is ready to top up following online activation.
Wirecard and the Financial Times controversy
On January 30, 2019, Wirecard shares plunged after the Financial Times reported that a senior executive was suspected of “falsification of accounts” and “money laundering” in the company’s Asia-Pacific operations. Wirecard issued a statement calling the report “false, inaccurate, misleading and defamatory.” Wirecard also announced a lawsuit against the Financial Times for "unethical reporting" and a lawsuit for market manipulation.
The public prosecutor's office Munich I in February 2019 launched criminal investigations against Financial Times journalist Dan McCrum because of alleged violations of the German Securities Trading Act (Wertpapierhandelsgesetz, WpHG). The German Federal Financial Supervisory Authority BaFin banned short selling Wirecard shares on 18. February 2019 until 18. April 2019. According to BaFin, the measure is not meant to take sides in the controversy between Wirecard and the Financial Times. On 15 October 2019, Financial Times published documents which it claimed to be Wirecard's internal accounting spreadsheets.
List of subsidiaries
Wirecard is a global company founded in 1999, which operates across all continents worldwide since 2017.
It entered the U.S. market in 2017 following completion of the takeover of Citi Prepaid Services. Wirecard took over the Brazilian company MOIP in 2016. The previous year, in 2015, it entered the Indian market with the acquisition of the Great Indian Retail Group's payment business. Wirecard has been strengthening its operations in the Asia-Pacific region, the Middle East and Africa since 2014.
See below a list of some Wirecard subsidiaries (not complete):
|Wirecard Bank AG||Aschheim||Germany|
|Wirecard Technologies GmbH||Aschheim||Germany|
|Wirecard Retail Services GmbH||Aschheim||Germany|
|Wirecard Global Sales GmbH||Aschheim||Germany|
|Wirecard Communication Services GmbH||Leipzig||Germany|
|Wirecard Technologies Indonesia||Jakarta||Indonesia|
|Wirecard Card Solutions Ltd||Newcastle upon Tyne||United Kingdom|
|Wirecard Central Eastern Europe GmbH||Graz||Austria|
|Wirecard Ödeme ve Elektronik Para Hizmetleri A.Ş.||Istanbul||Turkey|
|Wirecard Processing FZ LLC||Dubai||United Arab Emirates|
|Wirecard Singapore Pte Ltd||Singapore||Singapore|
|Wirecard Payment Solutions Malaysia Sdn Bhd||Kuala Lumpur||Malaysia|
|Wirecard India Private Ltd||Chennai||India|
|Wirecard NZ Limited||Auckland||New Zealand|
|Wirecard Hong Kong Limited||Hong Kong||China|
|Wirecard Africa Holdings Proprietary Ltd||Cape Town||South Africa|
|Wirecard Brasil S.A.||São Paulo||Brazil|
|Wirecard North America Inc.||Conshohocken||USA|
|Wirecard UK and Ireland||Dublin||Ireland|
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- "Interim Report" (PDF). Wirecard. 15 August 2018. Retrieved 7 October 2018.
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- "Wirecard Acquires Citi Prepaid Card Services". PYMTNS. 13 March 2017. Retrieved 5 July 2018.
- "Hauptversammlung 2019" (PDF). Wirecard. Retrieved 30 July 2019.
- "Allianz and Visa launch mobile payment and loyalty app". Finextra. Retrieved 3 July 2018.
- "Qatar Airways, Wirecard team on Alipay acceptance in Middle East and Africa". PamentsSource. Retrieved 3 July 2018.
- "Half-Year Financial Report 2019- Wirecard AG: Continued Strong Growth". Markets Insider. Retrieved 27 September 2019.
- "Wirecard stellt neue Bezahl-App vor". Dipanshu Palyal. 2 March 2015. Retrieved 5 July 2018.[dead link]
- "Boon bringt Apple Pay für alle". inside-tech.ch. 7 February 2017. Retrieved 5 July 2018.
- "Wirecard startet Mobile Payment App boon mit Apple Pay in Spanien". IT TIMES. 6 July 2017. Retrieved 5 July 2018.
- Tobin, Anna. "Apple Pay Continues European Rollout With German Launch". Forbes. Retrieved 2018-12-13.
- "Google Pay goes live in France • NFC World". NFC World. 2018-12-11. Retrieved 2018-12-13.
- Lochner, Mario (12 October 2016). "Wirecard: Wenn Bezahlen sexy wird". FOCUS Online. Retrieved 5 July 2018.
- "boon neu mit P2P: Geld zwischen zwei Freunden in Echtzeit schicken". TOPNEWS. 29 January 2018. Retrieved 5 July 2018.
- Dohms, Heinz-Roger (26 October 2015). "Spätzünder aus Aschheim". Süddeutsche Zeitung. Retrieved 1 September 2018.
- "Geldanlage-Report-Kolumne: Die 4 Top-Aktien 2008! – Teil 3". finanzen.net. 19 December 2007. Retrieved 1 September 2018.
- "TUI Leisure Travel lagert Zahlungsprozesse ihrer neuen Vertriebsplattform an Wirecard aus". APA-OTS. 21 May 2007. Retrieved 1 September 2018.
- Schmid, Bernd (28 May 2015). "Die eine deutsche Aktie, um in die Payment Revolution zu investieren". The Motley Fool. Retrieved 1 September 2018.
- "SCP, Supplier and Commission Payments". www.wirecard.com. Retrieved 2017-07-17.
- Sword, Alex. "T-Systems and Wirecard target retailers with IoT-enabled shelf". www.mobileeurope.co.uk. Retrieved 2017-07-17.
- "Wie Wirecard und WMF die Einzelhandels-Problematik lösen wollen". IT Times. 28 October 2016. Retrieved 7 October 2018.
- "French department store offers Alipay mobile payments • NFC World". NFC World. 2016-11-09. Retrieved 2017-07-17.
- "The Body Shop To Launch Alipay Mobile Wallet In Three London Stores | PYMNTS.com". www.pymnts.com. Retrieved 2017-07-17.
- "Wirecard Inks Deal With NBG To Integrate AliPay | PYMNTS.com". www.pymnts.com. Retrieved 2017-07-17.
- Sommer, Ulf (14 August 2018). "Wirecard ist erstmals mehr wert als die Deutsche Bank". Handelsblatt. Retrieved 7 October 2018.[dead link]
- Kharpal, Arjun (2017-07-10). "Tencent launches WeChat Pay in Europe to challenge Alibaba's Alipay". Retrieved 2017-07-18.
- "Atom Bank is raising £100 million and getting into mortgages". Business Insider. Retrieved 2017-07-17.
- "More than 3,000 companies have signed up to hot fintech Revolut's new business service". Business Insider. Retrieved 2017-07-17.
- "Britain is getting MORE banking app startups — can they all survive?". Business Insider. Retrieved 2017-07-17.
- "Millennial banking startup Loot raised another £2.5 million". Business Insider. Retrieved 2017-07-17.
- "There's a new digital-only bank and its CEO says Brexit is the 'perfect scenario' to launch". Business Insider. Retrieved 2017-07-17.
- McCrum, Dan. "Executive at Wirecard suspected of using forged contracts". Financial Times. Retrieved 30 January 2019.
- Comfort, Nicholas. "Wirecard Slumps After Report on Executive Suspected of Fraud". finance.yahoo.com. Retrieved 30 January 2019.
- "FT over reports alleging accounting fraud". Reuters. 8 February 2019. Retrieved 13 February 2019.
- "Wirecard dementiert FT-Bericht über Durchsuchung und reicht Anzeige ein - Aktie fällt erneut". finanzen.ch. 8 February 2019. Retrieved 13 February 2019.
- Fall Wirecard: Staatsanwaltschaft ermittelt gegen einen Financial-Times-Journalisten. Frankfurter Allgemeine Zeitung, 18. Februar 2019.
- "Deutsche Aufsicht schützt Dax-Konzern vor Spekulanten". sueddeutsche.de. 8 February 2019. Retrieved 18 February 2019.
- McCrum, Dan (15 October 2019). "Wirecard's suspect accounting practices revealed". Financial Times.
- "Wirecard Bilanz, Gewinn und Umsatz | Wirecard Geschäftsbericht | 747206". wallstreet-online.de. Retrieved 2019-05-02.
- "Wirecard completes Citi Prepaid acquisition » Banking Technology". www.bankingtech.com. Retrieved 2017-07-17.
- "Wirecard buys Brazilian online payments firm for 23.5 million euros". Reuters. 2016-02-22. Retrieved 2017-07-17.
- "Wirecard AG announces its market entry into North America by the acquisition of Citi Prepaid Card Services". www.wirecard.com. Retrieved 2017-07-17.
- "Wirecard acquires Brazilian online payment service provider". www.wirecard.com. Retrieved 2017-07-17.
- "Wirecard acquires payments business of Great Indian (GI) Retail Group". www.wirecard.com. Retrieved 2017-07-17.