Wirecard AG announces Partnership with Visa in Prepaid
Wirecard AG / Key word(s): Alliance/Mergers & Acquisitions
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.
Wirecard AG and Visa Inc. have announced their cooperation in prepaid card
issuing, affirming their joint commitment to the growing prepaid markets in
Asia-Pacific, Latin America, and other regions. As part of the partnership,
Wirecard and Visa Inc. today announce an agreement by which Wirecard will
acquire certain assets of Visa Processing Service (VPS), headquartered in
Singapore, and acquire all shares in Visa Processing Services (India)
Private Limited for US $16 million; further terms were not disclosed. The
agreement is subject to certain closing conditions.
Visa Processing Service is active in seven countries with a customer-base
of 14 financial institutions and more than three million cardholders
amongst more than 70 card programs. VPS provides financial institutions
with an integrated solution for gift cards, general purpose reloadable
(GPR) cards, single or multi-currency travel cards as well as money
Wirecard will support the global demand for prepaid cards with a wide-range
of product offerings, including innovative mobile and contactless payment
solutions, solutions for the unbanked and cards for the distribution of
government benefits. As part of the relationship, Wirecard intends to
provide outsourcing services to Visa for the provision of specific prepaid
processing services in support of Visa's clients.
In addition, Wirecard has joined the Visa Issuer Processing Program,
designed to match financial institutions with leading prepaid issuer
processors to help support and grow prepaid programs globally.
Tel.: +49 (0)89-4424-1424
Bloomberg: WDI GY
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Company: Wirecard AG
85609 Aschheim b. München
Phone: +49 (0)89-4424 1400
Fax: +49 (0)89-4424 1500
Indices: TecDAX, Prime All Share, Technology All Share
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service