02.01.2017
Wirecard AG: Wirecard's Indian subsidiary Star Global obtains license upgrade by Reserve Bank of India -Upgrade from Full Fledged Money Changers (FFMC) to Authorized Dealer, Category II -Enables 17 new business activities
DGAP-News: Wirecard AG / Key word(s): Miscellaneous
02.01.2017 / 09:21
The issuer is solely responsible for the content of this announcement.
Bengaluru (India)/ Aschheim (Germany); Star Global Currency Exchange
Private Limited, a group company of Wirecard AG, got an upgrade of its
license issued by Reserve Bank of India to Authorised Dealer in Foreign
Exchange (Category II). The earlier licence was a Full Fledged Money
Changers Licence with limited authority to deal only in buying and selling
foreign currencies, traveller cheques and prepaid cards for travel related
purposes.
Star Global's new Authorized Dealer, Category II licence empowers the
company to handle further types of remittances and release of foreign
exchange. There are 17 additional activities permitted to AD Category II
licence holders such as disbursement of crew wages; remittances for
overseas education or under educational tie up arrangements with
universities abroad; remittances for medical treatments abroad; and many
more.
RV Bhat, Executive Director at Star Global Currency Exchange Private
Limited says: "The upgrade of our license to Authorised Dealer Category II
is a great honour for us and is evidence of the confidence of the
Regulatory Authorities in our company. We are excited about the new
business opportunities the new license offers us and look forward to
continue our expansion."
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 one of the world's leading independent providers of
outsourcing and white label solutions for electronic payment transactions.
Wirecard supports companies in the acceptance of electronic payments from
all sales channels. A global multi-channel platform provides international
payment acceptances and methods, supplemented by 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).
www.wirecard.com
02.01.2017 Dissemination of a Corporate News, transmitted by DGAP - a
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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, Tradegate Exchange
End of News DGAP News Service