Competitor Profile: Wirecard

Competitor Profile: Wirecard

Summary

Wirecard is a global merchant acquiring and payment processing company that provides in-store, online, and mobile payment solutions to merchants. Wirecard offers a range of point-of-sale (POS) and mobile point-of-sale (mPOS) terminals for in-store payments, as well as online services such as Gateway and payment pages for online merchants. Merchants can accept all leading payment methods including cards and digital wallets, with support for leading schemes including Visa, Mastercard, American Express, China UnionPay, Diners Club, Discover, and JCB.

Wirecard has an issuing license from Visa and Mastercard, an e-money license, and a full banking license for the Single Euro Payments Area region, enabling it to offer a wide range of issuing and banking services to banks and financial institutions. The company provides technological support including the issuance of debit, credit, and prepaid cards as well as card transaction processing. The company also offers corporate banking services to business clients, enabling them to open currency accounts through Wirecard Bank.

In addition, it offers boon, its mobile prepaid account solution. This means individual customers can make mobile payments by linking their Mastercard-branded boon payment card with leading digital wallets such as Apple Pay and Google Pay.

The report provides information and insights into Wirecard including -
- Detailed insight into its business
- Comprehensive coverage of its products and services
- Comparative assessment with key alternative payment solutions
- Information on its performance
- The company's important events and milestones

Scope

- In 1999, Wirecard was founded.
- In November 2006, Wirecard launched a new internet payment service with virtual Mastercard cards, allowing users to make payments at millions of online merchants globally. Registered users were also able to send funds to other Wirecard account holders in real time.
- In March 2017, Wirecard acquired the customer portfolio of Citigroup’s merchant acquiring business, which covered 11 Asia Pacific markets.
- In June 2019, Wirecard announced that it will be launching a palm biometrics terminal, allowing for faster payments. The terminal will permit registered clients to pay with their palm using a biometric scanner.

Reasons to buy

- Gain insights into Wirecard's business operations and key events.
- Gain insights into its product portfolio.
- Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.