Wirecard

Brand Details

Type: Brand

Description: Wirecard AG was a German payment processor and financial services provider that became insolvent in 2020 due to a massive accounting scandal. The company offered a range of services including electronic payment transaction processing, risk management, and the issuance and processing of physical and virtual cards. They also provided solutions for online banking and mobile payment services. Wirecard's business model initially focused on providing internet payment services, and it eventually grew to become a globally operating company listed on the Frankfurt Stock Exchange and, for a time, part of the DAX stock index. However, the company's collapse resulted from the revelation of €1.9 billion in missing cash and subsequent investigations into fraudulent activities, leading to the arrest of several executives. The company was dismantled in November 2020, with its assets sold off.

Website: https://www.wirecard.com