.jpg)
Wirecard
Sign in to saveWirecard 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. The company offered electronic payment transaction services and risk management, and issued and processed physical and virtual cards. As of 2017, the company was listed on the Frankfurt Stock Exchange, and was a part of the DAX stock index from September 2018 to August 2020.
Key facts
- Company.name
- Wirecard AG
- Company.logo
- Wirecard logo 2019.svg
- Company.type
- Aktiengesellschaft
- Company.predecessor
- <!-- or:
- Company.predecessors
- --> InfoGenie AG(until 6 April 2005)
- Company.defunct
- June 2020
- Company.fate
- Insolvent after accounting scandal
- Company.location
- Aschheim, Upper Bavaria, Bavaria, Germany
- Company.area_served
- <!-- or:
- Company.areas_served
- --> Worldwide
- Company.key_people
- Thomas Eichelmann(chairman of the supervisory board)
- Company.industry
- Financial servicesPayment processorTechnology
- Company.genre
- Financial
- Company.revenue
- €2.02 billion (under question) (US$2.31 billion)
- Company.revenue_year
- 2018
- Company.net_income
- <!-- or:
- Company.profit
- --> €347.4 million (under question) (US$397.7 million)
- Company.net_income_year
- <!-- or:
via Wikipedia infobox
Article
17 sectionsContents
- History
- Founding and early business model
- Stock listing and relation to InfoGenie AG
- International expansion
- Scandal and insolvency
- Products and services
- Mobile payments
- eCommerce
- Digitalization of the retail sector
- Alternative Chinese payment methods
- Card issuing
- Financial data
- List of subsidiaries
- Bibliography
- See also
- References
- External links
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. The company offered electronic payment transaction services and risk management, and issued and processed physical and virtual cards. As of 2017, the company was listed on the Frankfurt Stock Exchange, and was a part of the DAX stock index from September 2018 to August 2020.
The company is at the center of an international financial scandal. Allegations of accounting malpractices had trailed the company since the early days of its incorporation, reaching a peak in 2019 after the Financial Times published a series of investigations along with whistleblower complaints and internal documents. On 25 June 2020, Wirecard filed for insolvency following revelations that an amount of €1.9 billion was "missing". Long-time CEO Markus Braun subsequently resigned and was later arrested. Former COO Jan Marsalek disappeared, after being fired from his position and board seat, and remains a fugitive wanted by the German police. He has been on Europe's Most Wanted list since 2020.
Connections
Categories
Companies based in Upper BavariaCompanies formerly listed on the Frankfurt Stock ExchangeCorporate scandalsDefunct banks of GermanyDefunct companies of GermanyDefunct SoftBank portfolio companiesFinancial services companies disestablished in 2020Financial services companies established in 1999Financial services companies of GermanyGerman companies disestablished in 2020German companies established in 1999