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ASCHHEIM/MUNICH, GERMANY / ACCESSWIRE / October 22, 2020 / Wirecard Acquiring & Issuing GmbH, (FRA:WDI)(OTC PINK:WCAGY) (OTC PINK:WRCDF) a fully owned subsidiary of Wirecard AG, has sold Wirecard North America Inc. to Syncapay, Inc., a US holding company focused on high potential payment solutions. The consummation of the transaction is subject to regulatory approval. Wirecard North America is one of the market leaders in the US for the issuing of compensation, disbursement, consumer incentive and refund cards.
Wirecard North America is the second major acquisition of Syncapay after the acquisition of daVinci Payments in 2017. The acquisition is backed by the private investment management firm Centerbridge Partners L.P., which is making a majority equity investment in Syncapay, and existing Syncapay shareholders Bain Capital Ventures, Silversmith Capital Partners, MissionOG, and NYCA.
In August Wirecard Acquiring & Issuing had sold its Brazilian subsidiary to the NASDAQ Listed PagSeguro group. This transaction is expected to close by the end of the month.
"We are very happy with this solution for Wirecard North America. With this transaction we have achieved an important milestone in our sales efforts in the best interest of the creditors of Wirecard AG.", said the insolvency administrator Dr Michael Jaffé.
Wirecard is one of the world's fastest growing digital platforms in the area of financial commerce. Wirecard provides both business customers and consumers with a constantly expanding ecosystem of real-time value-added services built around innovative digital payments by using an integrated B2B2C approach. This ecosystem concentrates on the areas payment & risk, retail & transaction banking, loyalty & couponing, data analytics & conversion rate enhancement in all sales channels (online, mobile, ePOS). Wirecard operates regulated financial institutions in several key markets and holds issuing and acquiring licenses from all major payment and card networks. Wirecard AG is listed on the Frankfurt Stock Exchange.
