29.06.2016

Wirecard AG announces its market entry into North America by the acquisition of Citi Prepaid Card Services

DGAP-News: Wirecard AG / Key word(s): Takeover
2016-06-29 / 18:29
The issuer is solely responsible for the content of this announcement.


- Citi Prepaid Card Services, with its global footprint, launched and successfully managed over 2,500 programs associated with top companies and brands across the world
- Clients are leading telecommunication service providers, health sciences companies, global IT and electronics manufacturers, internet and consumer goods corporations as well as public sector clients
Aschheim (Munich), Germany. Wirecard AG, a leading global payment and issuing company, today announced that it has reached a definitive agreement to acquire Citi Prepaid Card Services. Citi Prepaid card services have launched over 2,500 client programs, associated with top companies and brands across the world, primarily in North America.
Subject to obtaining regulatory approvals and other customary closing conditions, closing is expected as early as the fourth quarter of 2016. Wirecard will be assuming all current staff with more than 100 employees at the head office in Conshohocken (Philadelphia) and 20 employees at different international hubs.

Markus Braun, CEO of Wirecard AG commented: "This acquisition extends Wirecard AG's global presence into the North American market. On an operating level we look forward to sustainably enriching their existing product portfolio via our innovative issuing solutions" and adds: "We look forward to working together with a highly experienced management team and staff who will contribute their dedicated knowledge with the implementation of complex corporate solutions."

Francesco Vanni d'Archirafi, CEO of Citi Holdings said, "This transaction is a positive outcome for our clients and employees of Citi Prepaid Card Services which will become part of an industry leader poised for growth. We are especially pleased that all Citi employees supporting this business will have the opportunity to join such an innovative company."
The customer portfolio of the acquired business consists of leading telecommunication service providers, health sciences companies, global IT and electronics manufacturers, internet and consumer goods corporations as well as public sector clients. The portfolio is largely comprised of incentive and compensation cards as well as corporate disbursement programs.

The acquired prepaid card business will benefit from integrating with Wirecard's existing global payments platform to expand the features and functionality currently available to their clients around the world.
Global Industry Analytics Inc. (GIA) is forecasting that the global prepaid card market will grow to a volume of USD 3.1 trillion by 2022. One-time and reloadable prepaid cards continue to replace checks and cash as a faster, more cost efficient payment method for consumers, corporate clients and public sector organizations. In addition to enabling financial inclusion in the consumer sector, in business-to-consumer applications prepaid cards drive engagement between organizations and their customers and accelerate the migration to electronic payments.

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


About Wirecard: 
Wirecard AG is a global technology group that supports companies in accepting electronic payments from all sales channels. As a leading independent supplier, the Wirecard Group offers outsourcing and white label solutions for electronic payments. A global platform bundles international payment acceptances and methods with supplementary fraud prevention solutions. With regard to issuing own payment instruments in the form of cards or mobile payment solutions, the Wirecard Group provides companies with an end-to-end infrastructure, including the requisite licences for card and account products. Wirecard AG is listed on the Frankfurt Securities Exchange (TecDAX, ISIN DE0007472060, WDI). For further information about Wirecard, please visit www.wirecard.com or follow us on Twitter @wirecard.




2016-06-29 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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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: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart; Terminbörse EUREX  
   
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