CAPTION: The Commerzbank (CBK) share is listed between the other companies on a display board of the 30 Dax companies in the trading hall of the Frankfurt Stock Exchange. (picture alliance/Arne Dedert/dpa)
The payment services provider Wirecard wants to slow down its pace of acquisitions following a series of takeovers. The company is now represented on all relevant continents with the purchase of the US-based card service firm Citi Prepaid Card Services, Wirecard’s financial director Alexander von Knoop told the Deutsche Presse-Agentur (dpa). “We will now concentrate on our own growth and innovation and only look at acquisitions opportunistically.”
Wirecard has purchased a number of firms in emerging markets like Indonesia and South Africa in recent years. Acquisitions were responsible for nearly half of the firm’s revenue growth during the first half of 2018. The German Stock Exchange announced Wednesday night that Wirecard will rise up into the lead DAX index and supplant the founding member Commerzbank there.
The company based in Aschheim outside of Munch processes digital payments for corporate customers, offers risk protection for distributors, sells its own services to third parties and is also active on the mobile payments market with its payment app “boon”. The Bavarian-based firm is also working together with Google and Apple, which wants to make their own payment services in Germany big.
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.
A single purchase
