What is Wirecard?
For years, Wirecard was the darling of the German financial tech sector. The company offered all kinds of payment services and was a kind of German Adyen. There was a payment app for smartphones, Wirecard issued virtual credit cards and arranged payment traffic for all kinds of companies, such as KLM and Aldi, online but also in shops. At its peak in 2018, the company was worth 28 billion euros. Now Wirecard is bankrupt, the activities are being scaled down and penalties are threatening for the former top people.
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