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 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, Tradegate Exchange



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