Today’s FT reporting is part of a larger package of incorrect and misleading information which has been published by the FT since January 2019. We have already commenced legal proceedings against Dan McCrum and the Financial Times in the Munich Court in relation to the repeated and continuing disclosure and false representation of confidential information and/or company secrets as well as misquoting of documents.
The inaccurate information published today has been deliberately misquoted by the FT to further distort fact and fiction.
To clarify our international business model in general, more than 50% of Wirecard’s transaction volumes originate from geographies like USA, Latin America and Asia where Wirecard currently does not hold its own acquiring or issuing license but is working with partners such as local financial institutions and service providers. This is common practice among large multi-national payment processors to address specific local customer and compliance requirements, with customers ranging from governments to local micro-entrepreneurs as well as some of the world’s largest corporations in retail, digital services or travel . The share of transactions processed through partnerships is, however, declining as Wirecard seeks to obtain its own domestic licenses around the globe, with 5 further geographies added in 2018 alone.
Wirecard cannot comment on individual customer, supplier or partner relationships without the consent of the concerned party.
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