Who is acquiring Wirecard?

Who is acquiring Wirecard?

All the 190 employees of Wirecard India will join Nium after the acquisition, said Pratik Gandhi, the chief operating officer of Nium. The startup will also initiate a rebranding exercise of Wirecard India, subject to RBI approval.

Is wirecard being bought?

Co-founded by Nigel Verdon and Clive Mitchell, it has raised around $17 million and carries and equally modest valuation, per PitchBook data. (This could imply that the business is being picked up possibly more for shares than cash?)

Who bought over Wirecard?

FINCH Capital
FINCH Capital-backed payments firm Nomu Pay has agreed to acquire Wirecard’s Asia-Pacific entities in Hong Kong, Malaysia, the Philippines and Thailand for an undisclosed sum.

Who bought wirecard assets?

Banco Santander group
Around 500 Employees switch to Getnet Platform Another important success has been achieved in the insolvency proceedings concerning the assets of Wirecard AG and Wirecard Technologies GmbH: Despite the challenging circumstances the sale of the Wirecard core assets to Banco Santander group was closed today.

What kind of company is Wirecard?

Wirecard AG is an insolvent German payment processor and financial services provider, whose former CEO, COO, two board members, and other executives have been arrested or otherwise implicated in criminal proceedings.

Who started Wirecard?

Markus Braun
Markus Braun founded Wirecard in 1999, and as of 2017, operates on all continents with over 5,800 employees in 26 locations, according to the company website.

What is happening to Wirecard?

Wirecard collapsed in June after the company said that it was unable to locate €1.9 billion and admitted that the cash likely did ‘not exist’.

What happened to Wirecard?

FRANKFURT (Reuters) – Payments firm Wirecard collapsed last year in Germany’s biggest post-war fraud scandal. A parliamentary inquiry is in progress, with German Chancellor Angela Merkel and Finance Minister Olaf Scholz due to testify in April.

What was Wirecard business?

Wirecard was an international supplier of electronic payment and risk management services. Wirecard offered products and services in the areas of mobile payments, e-commerce, digitisation and finance technology.

Is Santander buying Wirecard?

Santander acquires technology assets from Wirecard, accelerating the expansion of its merchant payment business, Getnet. The acquisition of Wirecard assets further strengthens Santander’s position in the global merchant acquiring space, where the bank already has a strong presence.

What is Pago NXT?

PagoNxt is an autonomous payments tech company within Santander Group that combines the three core payment platforms (Merchant Solutions, Trade Solutions and Consumer Solutions) with a core cloud-based infrastructure that provides reliability, scalability, and the highest cybersecurity capabilities.

What does Wirecard company do?

Wirecard AG offers Internet payment and processing services. The Company provides software and systems for online payment, electronic funds transfer, fraud protection and enterprise solutions. Wirecard also offers call center services.

Why did wirewirecard’s financials fail to beat the market?

Wirecard’s combined banking (through its subsidiary Wirecard Bank) and non-banking operations (mainly payment processing) makes its financial results harder to compare with peers, so the investors had to rely on adjusted version of the financial statements of the company.

What does the Wirecard deal mean for Wirecard?

The €100 million deal is the latest in a series of firesales of Wirecard’s technology assets by the adminstrators to the estate following the collapse of the German processor in the wake of criminal financial accounting irregularities.

What are supplier and commission payments by Wirecard?

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.

Does the Santander-Wirecard deal include the Wirecard company?

The acquisition does not include Wirecard companies and Santander will not assume any legal liability relating to Wirecard AG and Wirecard Bank AG or its past actions. The deal is expected to be completed by the end of the year and is subject to certain conditions, including regulatory approvals.