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Wirecard acquires customer portfolio for card acceptance of Citigroup in Asia-Pacific

Monday 13 March 2017 | 01:57 PM CET

Wirecard has acquired the customer portfolio for card acceptance in 11 countries in the Asia-Pacific (APAC) region of Citigroup.

This includes all credit card acceptance customers in Singapore, Hong Kong, Macau, Malaysia, Taiwan, Indonesia, the Philippines, Thailand, India, Australia and New Zealand.

The portfolio to be acquired includes a customer base of more than 20,000 traders, in particular from the travel and transport sector, the financial services sector, luxury goods, trade, technology and telecommunications.

According to Statista, the digital transaction volume (excluding business-to-business or peer-to-peer payments) could double in 2017 by 2021 in countries such as India, Indonesia, Malaysia, the Philippines and Thailand.

Closing will take place in several steps up to June 2018. In the first year of full consolidation in the Wirecard Group (fiscal year 2019), the acquisition expects an operating profit contribution before interest, taxes and depreciation (EBITDA) of more than EUR 20 million.

For more information about Wirecard, please check out a detailed profile of this company in our dedicated, industry-specific online company database.

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