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Payment processor Wirecard wants to increase its sales sixfold by 2025

2019-10-08T13:02:20.014Z

The payment service Wirecard has once again raised its already ambitious growth targets. Sales are expected to rise rapidly to 12 billion euros - and with him the profit.




The German payment processor Wirecard wants to increase its sales by 2025 to 12 billion euros. For the IT company from Aschheim near Munich, this would mean about a sixfold increase - 2018 Wirecard still converted 2.1 billion euros.

Above all, large corporations should be won as customers and be offered in addition to the technology for electronic payment and other financial services, said CEO Markus Braun. So far, Wirecard had sought to realize a good € 10 billion by 2025.

Wirecard earns its money mainly by processing electronic payments to checkout counters. The company also makes a profit with its purchases from retailers, airline and rail companies around the world.

Wirecard has been cooperating with Aldi since the summer

Wirecard works with major IT companies and financial service providers such as Apple, Google and the credit card company Visa. In the summer, the company entered into a partnership with Aldi Nord and Aldi Süd. Paying customers there with credit cards or debit cards such as "Visa Pay", Wirecard ensures that the money lands on Aldi's customer account. In the future, Wirecard also intends to expand its mobile payment software business for smartphones.

In 2018, Wirecard made payments amounting to nearly 125 billion euros, and by 2025 it is now expected to be 810 billion euros. Correspondingly, profits are set to rise: new target for the middle of the next decade is 3.8 billion euros pre-tax profit, 2018 there were 560 million.

On the stock exchange, Wirecard was recently in turbulence. A series of critical reports by the Financial Times since the beginning of the year had caused the Wirecard share to crash again and again. The company and the German financial regulator BaFin suspect that stock speculators and journalists could have manipulated the course with the allegations against Wirecard, the newspaper rejects misconduct. BaFin banned short selling of Wirecard shares in the spring, even for two months.

Source: spiegel

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