18.11.2014

Wirecard AG announces Partnership with Visa in Prepaid


Wirecard AG / Key word(s): Alliance/Mergers & Acquisitions
18.11.2014 01:12

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG.
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 remittance.
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.
 


Contact:
Iris Stöckl 
VP Corp.Com./IR 
Tel.: +49 (0)89-4424-1424
e-Mail: iris.stoeckl@wirecard.com
http://www.wirecard.com
ISIN DE0007472060
Reuters: WDI.GDE
Bloomberg: WDI GY


18.11.2014 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

 
Language:     English
Company:      Wirecard AG
              Einsteinring 35
              85609 Aschheim b. München
              Germany
Phone:        +49 (0)89-4424 1400
Fax:          +49 (0)89-4424 1500
E-mail:       ir@wirecard.com
Internet:     www.wirecard.com
ISIN:         DE0007472060
WKN:          747206
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  



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