Banco Santander has released a statement confirming its acquisition of tech assets from insolvent payment processor Wirecard.
Although not confirmed in the companys official document, other sources report the total figure exchange as being 100m.
Wirecard, which declared insolvency earlier in the year following revelations that it had misplaced over US$2.3bn in funds, was formerly renowned for its technologys widespread usage among leading fintechs.
Distancing itself from the aforementioned controversy, the bank has made it explicitly clear that the deal does not include Wirecard companies.
Accelerating plans
Specific assets purchased in the deal include payment solutions for merchant acquiring and issuance services.
Santander will use t…
Read the full article at: https://www.fintechmagazine.com/technology-and-ai-2/santander-acquires-wirecards-assets-tech-expansion
