Wirecard UK and Ireland’s corporate payout card portfolio has been bought by Paynetics.
In Brief:
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Paynetics is an e-money institution that operates across the UK and Europe.
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It will work with customers who used Wirecard for card issuing and payment solutions.
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Paynetics wants to show its products can be used by such large corporations.
What does this mean?
Following the collapse of Wirecard many customers who had relied on its technology and infrastructure were worried about how to continue operating services like payment cards. Now, Paynetics should be able to provide continuation for these customers while expanding its footprint acorss Europe.
