The deal will see Paynetics work with corporate customers, who have previously relied on Wirecard for card issuing and payment services, to adopt Paynetics for the continuation of their existing card programmes.
Paynetics is a regulated e-money institution, licensed across the EU and a Principal Member of Mastercard, Visa, SWIFT, and SEPA. It offers next-generation payment technology solutions with an all-encompassing technology stack under one roof, including issuing, acquiring, state of the art payment services, IBANs, money transfers, e-wallets, mobile payments and software POS.
As part of the acquisition, Paynetics will provide its new customers with a secure and seamless transition, together with a strategic product roadmap for the future development of these programmes, which until now faced the prospect of termination.
As part of the deal, Paynetics will power a range of programmes including employee benefits, sales incentive, corporate expenses and social welfare for these organisations. The company has begun engaging with and novating its new customers in order to manage their transition in a way that is specific to the individual requirements of that business.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now