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Wirecard found acquirer for its UK & Ireland assets

Oct 13, 2020

That is expected to ensure seamless business continuation of card programs for corporate customers

Wirecard

Wirecard found acquirer for its UK & Ireland assets. Source: shutterstock.com

Paynetics UK has agreed to acquire assets of Wirecard UK & Ireland, the company reports.

In terms of the deal, Paynetics will work with corporate customers, who have previously relied on Wirecard for card issuing and payment services. They will adopt Paynetics for the continuation of their existing card programs.

Paynetics will power a range of programs including employee benefits, sales incentives, corporate expenses, and social welfare for organizations.

Through this acquisition, we’ve not only proven our technological competence and the industry’s confidence in our proposition but also that our products and services are fit for purpose for large, corporate organizations. We’re operating within the most sophisticated financial services market in the world, and we’re proud to bring something different to the table. We’re a young, innovative company who can keep up with the high standards that our industry demands, but we also care deeply about our customers and will work with each of them on an individual basis to ensure that they are getting the best solution for their business
Mike Peplow, CEO, Paynetics UK

We’ve reported that the Financial Conduct Authority was able to lift the restrictions on Wirecard thus allowing it to resume operational activities.

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