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This company was active as an information service provider offering telephone advice hotlines on various topics. Wirecard Asia Pacific was founded in Singapore in In , SoftBank invested in Wirecard.
In January , Wirecard announced that a contract extension would be offered to chief executive Markus Braun. In a statement, Wirecard announced that it is "working intensively together with the auditor towards a clarification of the situation".
Freis had only joined the company the evening before. Wirecard is 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.
This traditionally comprises the integration of payment methods, payment transactions via e-commerce as well as payment transactions at the stationary checkout POS.
Since , Wirecard offers consumers the fully digitalised, [41] mobile payment-app Boon, which works independently of banks or network operators.
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 , [48] one focus is travel and transport. 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 transfer of virtual credit card numbers. Since , Wirecard has offered its Checkout Portal — a fully automated application for easily connecting different payment methods in online shops , with a focus on SMEs and virtual marketplaces.
Wirecard also supports high-street retail with digitisation ; an example of this is the collaborative project with T-Systems.
Wirecard has been collaborating with Alipay since , 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.
Many companies worked with Wirecard to issue their own payment cards of various kinds. Some well-known partnerships include: Curve ; start-up banks such as Atom [60] and money apps including Revolut [61] and Pokit ; spending management apps [62] such as Loot, [63] U Account and Soldo.
It is a prepaid card which can be purchased in stores and is ready to top up following online activation. Beginning in April , the Financial Times blog FT Alphaville wrote a series of blog posts that questioned Wirecard's business model and criticised the company's accounting practices.
On 30 January , Wirecard shares plunged after the Financial Times reported that a senior executive was suspected of "falsification of accounts" and "money laundering" and round-tripping in the company's Asia-Pacific operations.
According to BaFin, the measure is not meant to take sides in the controversy between Wirecard and the Financial Times.
In , the accounting firm KPMG was hired by Wirecard for an independent audit to address the mentioned allegations.
A report published in June by the interdisciplinary journalism laboratory Citizen Lab at the University of Toronto stated that persons and organisations publicly critical of Wirecard had been the target of sustained hacking and phishing attempts by a hackers-for-hire group dubbed Dark Basin.
According to the report, some of the critical entities, that included hedge funds, short sellers, investigators, and journalists, were "targeted almost daily for months, and continued to receive messages for years".
The report linked the attacks "with high confidence" to the Indian company BellTroX InfoTech which has a history of other hacking-for-hire operations.
Wirecard announced on 22 June that financial data for the previous years might be incorrect. Wirecard is a global company founded in , which operates across all continents worldwide since Wirecard Card Solutions Ltd.
WDCS is a wholly owned subsidiary headquartered in Newcastle upon Tyne, UK, with an e-money licence which allows it to issue virtual cards.
It provided numerous mobile payment applications and Wirecard's own mobile payment app, Boon. It entered the U.
Wirecard has been strengthening its operations in the Asia-Pacific region, the Middle East and Africa since From Wikipedia, the free encyclopedia.
German financial services company. Net income. Main article: Wirecard scandal. Financial Times.
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