DGAP-News: Wirecard AG announces its market entry into North America by the acquisition of Citi Prepaid Card Services


DGAP-News: Wirecard AG / Key word(s): Takeover
Wirecard AG announces its market entry into North America by the acquisition
of Citi Prepaid Card Services

29.06.2016 / 18:29
The issuer is solely responsible for the content of this announcement.

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- Citi Prepaid Card Services, with its global footprint, launched and
successfully managed over 2,500 programs associated with top companies and
brands across the world
- Clients are leading telecommunication service providers, health sciences
companies, global IT and electronics manufacturers, internet and consumer
goods corporations as well as public sector clients

Aschheim (Munich), Germany. Wirecard AG, a leading global payment and
issuing company, today announced that it has reached a definitive agreement
to acquire Citi Prepaid Card Services. Citi Prepaid card services have
launched over 2,500 client programs, associated with top companies and
brands across the world, primarily in North America.

Subject to obtaining regulatory approvals and other customary closing
conditions, closing is expected as early as the fourth quarter of 2016.
Wirecard will be assuming all current staff with more than 100 employees at
the head office in Conshohocken (Philadelphia) and 20 employees at
different international hubs.

Markus Braun, CEO of Wirecard AG commented: "This acquisition extends
Wirecard AG's global presence into the North American market. On an
operating level we look forward to sustainably enriching their existing
product portfolio via our innovative issuing solutions" and adds: "We look
forward to working together with a highly experienced management team and
staff who will contribute their dedicated knowledge with the implementation
of complex corporate solutions."

Francesco Vanni d'Archirafi, CEO of Citi Holdings said, "This transaction
is a positive outcome for our clients and employees of Citi Prepaid Card
Services which will become part of an industry leader poised for growth. We
are especially pleased that all Citi employees supporting this business
will have the opportunity to join such an innovative company."

The customer portfolio of the acquired business consists of leading
telecommunication service providers, health sciences companies, global IT
and electronics manufacturers, internet and consumer goods corporations as
well as public sector clients. The portfolio is largely comprised of
incentive and compensation cards as well as corporate disbursement
programs.

The acquired prepaid card business will benefit from integrating with
Wirecard's existing global payments platform to expand the features and
functionality currently available to their clients around the world.

Global Industry Analytics Inc. (GIA) is forecasting that the global prepaid
card market will grow to a volume of USD 3.1 trillion by 2022.  One-time
and reloadable prepaid cards continue to replace checks and cash as a
faster, more cost efficient payment method for consumers, corporate clients
and public sector organizations.  In addition to enabling financial
inclusion in the consumer sector, in business-to-consumer applications
prepaid cards drive engagement between organizations and their customers
and accelerate the migration to electronic payments.


Contact:
Iris Stöckl 
VP Corp.Com./IR 
Tel.: +49 (0)89-4424-1424
e-Mail: iris.stoeckl@wirecard.com
http://www.wirecard.com
ISIN DE0007472060
Reuters: WDI.GDE
Bloomberg: WDI GY


About Wirecard: 
Wirecard AG is a global technology group that supports companies in
accepting electronic payments from all sales channels. As a leading
independent supplier, the Wirecard Group offers outsourcing and white label
solutions for electronic payments. A global platform bundles international
payment acceptances and methods with supplementary fraud prevention
solutions. With regard to issuing own payment instruments in the form of
cards or mobile payment solutions, the Wirecard Group provides companies
with an end-to-end infrastructure, including the requisite licences for
card and account products. Wirecard AG is listed on the Frankfurt
Securities Exchange (TecDAX, ISIN DE0007472060, WDI). For further
information about Wirecard, please visit www.wirecard.com or follow us on
Twitter @wirecard.


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29.06.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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   Language:    English                                                    
   Company:     Wirecard AG                                                
                Einsteinring 35                                            
                85609 Aschheim b. München                                  
                Germany                                                    
   Phone:       +49 (0)89-4424 1400                                        
   Fax:         +49 (0)89-4424 1500                                        
   E-mail:      ir@wirecard.com                                            
   Internet:    www.wirecard.com                                           
   ISIN:        DE0007472060                                               
   WKN:         747206                                                     
   Indices:     TecDAX, Prime All Share, Technology All Share              
   Listed:      Regulated Market in Frankfurt (Prime Standard); Regulated  
                Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,  
                Stuttgart; Terminbörse EUREX                               
 
 
   End of News    DGAP News Service  
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475779 29.06.2016