Wirecard AG is a global internet technology and financial services provider which is listed on the German stock exchange (TecDAX) and is headquartered in Aschheim, Munich. The company offers its customers electronic payment transaction solutions 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, such as Orange Cash and Wirecard's own mobile payment solution 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 and omnichannel payment solutions to the US market.
Video Wirecard
Products and Services
Wirecard is an international supplier of electronic payment and risk management solutions. This includes the integration of payment methods as well as payment processing both for e-commerce and for physical point of sale systems (POS). Wirecard provides these services to a total of 36,000 large and mid-sized companies and 191,000 small-sized companies (as of end of 2017), including KLM, Rakuten.com, O2 (Telefónica) and Transport for London, among others. The transaction volume in 2017 was US$112.4 billion.
Wirecard also supports high-street retail with digitisation; an example of this is the collaborative project with T-Systems. 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, Monzo, and Tandem; money apps including Revolut, Monese and Pockit; spending management apps such as Loot, 'U' account and Soldo and business accounts like Tide.
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. Since July 2017, Wirecard has partnered with Tencent to also offer WeChat Pay.
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 2015, Wirecard introduced the fully digitised mobile payment app, boon. It is based on a virtual prepaid Mastercard and runs on smartphones with Android or iOS operating systems. Currently, the Android version is available in Germany, Austria, Belgium, the Netherlands, Spain and Ireland. At the moment, boon. can be used with Apple Pay in France, the UK, Spain, Switzerland and Italy. The boon. app can be used with Apple Pay independently of banks and network operators.
Since 2014, Wirecard has offered its Checkout Portal - a fully automated solution for easily connecting different payment methods in online shops, with a focus on SMEs and virtual marketplaces.
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's Supplier and Commission Payments (SCP) is tailored to the travel industry and is based on the automatic issuance of virtual credit cards. It enables electronic payments to partners and suppliers, for example, commission payments. This means that international payments can be processed by sending virtual credit card numbers electronically.
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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):
References
Source of article : Wikipedia
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