Wirecard AG, trading as OTCMKTS:WRCDF, was a Germany‐based financial technology company that specialized in electronic payment processing and risk management services. Headquartered in Aschheim near Munich, the firm offered a comprehensive suite of solutions designed to facilitate digital commerce, including card issuing, merchant acquiring, payment gateway services and anti‐fraud monitoring. Its platform enabled businesses of all sizes to accept and reconcile transactions across online, mobile and point‐of‐sale channels.
Founded in 1999 and listed on the Frankfurt Stock Exchange in 2005, Wirecard expanded rapidly beyond its European home market to establish a strong presence in Asia‐Pacific and Latin America. The company’s service portfolio catered to e‐commerce merchants, financial institutions and emerging market users, with localized solutions for loyalty programs, digital wallets and real-time analytics.
In June 2020, Wirecard filed for insolvency following the discovery of a €1.9 billion accounting discrepancy that led to the resignation and subsequent arrest of then‐CEO Markus Braun. Insolvency administrators were appointed to manage the company’s remaining assets and liabilities, and the firm’s operating divisions have since been sold off or liquidated.
Despite its collapse, residual equity interests in Wirecard continue to trade over‐the‐counter under the ticker WRCDF, representing residual claims rather than ongoing operations. Investors in these shares should be aware that the company no longer conducts active payment‐processing business, and remaining value is tied to the outcome of insolvency proceedings.
AI Generated. May Contain Errors.
