Wirecard
Encyclopedia
Wirecard AG is a global financial services and technology company headquartered in Aschheim
, Munich
, Germany
. The company provides payment processing, card issuing and risk management services to more than 10.000 corporate customers worldwide. Its Internet payment service competes with PayPal
and Western Union
. Wirecard Bank AG operates under a German Banking License and is a Principal Member of VISA, MasterCard and JCB. Wirecard AG is listed on the Frankfurt Securities Exchange.
Wirecard AG is listed on the TecDAX
index of Deutsche Börse since September 18, 2006 and now ranks among the 30 largest German technology companies below the DAX
.
for consumers that can be used to pay at millions of MasterCard
locations worldwide. In addition to standard MasterCard
products, the Wirecard system also enables users to send each other money in real-time. An optional physical MasterCard enables users to pay at 24.7 million MasterCard
brick&mortar acceptance points and to withdraw cash at nearly 1 million ATM
s worldwide.
Wirecard AG's electronic payment processing and risk management platform supports more than 85 local and international payment and fraud protection schemes. Wirecard AG is a member of ADP CardClear and IATA.
Wirecard's Supplier and Commission Payments (SCP) product enables automated global settlement of payments to suppliers and sales agents. The service is based on an automated issuing of "virtual" credit cards by Wirecard Bank AG. Supplier or commission payouts to be transferred internationally (e.g. payment of intermediary commissions by hotels to travel agencies) can be processed and settled by electronic dispatch of single- and restricted-use “virtual” credit card numbers.
Wirecard Bank AG provides card acquiring services to corporate clients for VISA, MasterCard and JCB. Various types of credit and debit cards are issued for private and corporate customers.
The largest german virtual shopping mall Yatego
and Wirecard concluded a contract to improve the credit card acceptance in 2009.
Wirecard Bank operates a virtual branch inside the 3-D virtual world Second Life
.
Wirecard Bank has purchased a license from MindArk
, the operators of the Entropia Universe
virtual world, to operate a bank within the Entropia Universe, but has as of April 2009 not yet opened their virtual bank.
Aschheim
Aschheim is a municipality in the district of Munich in Bavaria in Germany.Aschheim is the location of BMW's test track which the manufacturer opened in 1972....
, Munich
Munich (district)
Munich is a district in Bavaria, Germany. It borders the districts of Dachau, Freising, Erding, Ebersberg, Rosenheim, Miesbach, Bad Tölz-Wolfratshausen, Starnberg, Fürstenfeldbruck, and surrounds district-free city Munich itself, which is the district seat.-History:The history of the region is...
, Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
. The company provides payment processing, card issuing and risk management services to more than 10.000 corporate customers worldwide. Its Internet payment service competes with PayPal
PayPal
PayPal is an American-based global e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as checks and money orders....
and Western Union
Western Union
The Western Union Company is a financial services and communications company based in the United States. Its North American headquarters is in Englewood, Colorado. Up until 2006, Western Union was the best-known U.S...
. Wirecard Bank AG operates under a German Banking License and is a Principal Member of VISA, MasterCard and JCB. Wirecard AG is listed on the Frankfurt Securities Exchange.
Financial information
According to preliminary figures, Group sales revenues of the Wirecard AG were up by 16 percent, from 196.8 million euros in the previous year to 228.3 million euros in 2009. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 16 percent, from 52.4 million euros to 60.8 million euros. Earnings before interest and taxes (EBIT) were up by 15.7 percent, from 49.0 million euros to 56.7million euros..Wirecard AG is listed on the TecDAX
TecDAX
The TecDAX stock index tracks the performance of the 30 largest German companies from the technology sector. In terms of order book turnover and market capitalization the companies rank below those included in the DAX.The TecDax was introduced on 24 March 2003...
index of Deutsche Börse since September 18, 2006 and now ranks among the 30 largest German technology companies below the DAX
DAX
The DAX is a blue chip stock market index consisting of the 30 major German companies trading on the Frankfurt Stock Exchange. Prices are taken from the electronic Xetra trading system...
.
Products and services
In November 2006, Wirecard launched an Internet payment service called "Wirecard". By registering online the consumer opens an account at Wirecard Bank which he can load by cash, cards, direct debit, wire transfer or various local payment schemes. The service includes a free virtual prepaid MasterCardMasterCard
Mastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
for consumers that can be used to pay at millions of MasterCard
MasterCard
Mastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
locations worldwide. In addition to standard MasterCard
MasterCard
Mastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
products, the Wirecard system also enables users to send each other money in real-time. An optional physical MasterCard enables users to pay at 24.7 million MasterCard
MasterCard
Mastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
brick&mortar acceptance points and to withdraw cash at nearly 1 million ATM
Automated teller machine
An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
s worldwide.
Wirecard AG's electronic payment processing and risk management platform supports more than 85 local and international payment and fraud protection schemes. Wirecard AG is a member of ADP CardClear and IATA.
Wirecard's Supplier and Commission Payments (SCP) product enables automated global settlement of payments to suppliers and sales agents. The service is based on an automated issuing of "virtual" credit cards by Wirecard Bank AG. Supplier or commission payouts to be transferred internationally (e.g. payment of intermediary commissions by hotels to travel agencies) can be processed and settled by electronic dispatch of single- and restricted-use “virtual” credit card numbers.
Wirecard Bank AG provides card acquiring services to corporate clients for VISA, MasterCard and JCB. Various types of credit and debit cards are issued for private and corporate customers.
The largest german virtual shopping mall Yatego
Yatego
Yatego is a virtual shopping mall where traders are able sell their goods. Each trader has an online shop that is also integrated in the yatego platform. After the login process customers may make their purchases throughout the platform in all shops....
and Wirecard concluded a contract to improve the credit card acceptance in 2009.
Bank status
Since January 1, 2006 Wirecard Bank AG is part of the Wirecard Group. Wirecard Bank holds a full banking license and is a Principal Member of VISA, MasterCard and JCB. The bank's deposits are secured by the Deposit Protection Fund of the Association of German Banks (Einlagensicherungsfonds deutscher Banken e.V).Wirecard Bank operates a virtual branch inside the 3-D virtual world Second Life
Second Life
Second Life is an online virtual world developed by Linden Lab. It was launched on June 23, 2003. A number of free client programs, or Viewers, enable Second Life users, called Residents, to interact with each other through avatars...
.
Wirecard Bank has purchased a license from MindArk
MindArk
MindArk is a Swedish software company. It created Entropia Universe , a popular MMORPG-style online virtual universe. In partnership with American companies Nextpert and Neverdie Studios, it will launch the next generation 3D virtual world, Next Island in 2010...
, the operators of the Entropia Universe
Entropia Universe
Entropia Universe is a massively multiplayer online virtual universe designed by the Swedish software company MindArk, based in Gothenburg. Entropia uses a micropayment business model, in which players may buy in-game currency with real money that can be redeemed back into real world funds at a...
virtual world, to operate a bank within the Entropia Universe, but has as of April 2009 not yet opened their virtual bank.