Payment service provider: The ruined reputation for Wirecard means

Wirecard has raised the further Move of the annual report of a quake in the market for payment services. This could have serious consequences for the Munich-bas

Payment service provider: The ruined reputation for Wirecard means

Wirecard has raised the further Move of the annual report of a quake in the market for payment services. This could have serious consequences for the Munich-based company. If it is presenting today, Friday no audited annual and consolidated financial statements – why it is advance visual after – could loans of about two billion euros will be terminated. The had announced the payment service provider on Thursday. For the first time, the market plays a serious insolvency of Fintechs: up to The year 2024 term bond is traded at a discount of 50 cents per Euro, the rate of return jumps to 19 percent. What does this mean for Wirecard, the market and the competition?

Franz Nestler

editor in the economy.

F. A. Z.

For one, you can be sure that the time card will be paid for, whether it's online or in stores. Wirecard is too small, as it would be for the market to be a Problem, if there is a payment service provider, less. In the German market alone there are more than a dozen competitors. Some are more focused on the retail trade, others are more on online trading.

For Wirecard the now, once again, lack of trust is a huge problem. For Bank balances on escrow accounts in the amount of almost 2 billion euros is not a certification, is concerned namely, the unsuspecting customer, even if the Board of Directors and his boss, Markus brown, published in the night to Friday a Video in which brown, in turn, with property, of-the-art voice tries to explain the process and give you the impression that everything will be fine.

Updated Date: 19 June 2020, 04:19

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