Wirecard sells assets in Brazil to PagSeguro

Source: Fintech Future Sharon Kimathi 2020-08-25

Wirecard has inked a deal to sell its operations in Brazil, according to Reuters.

its insolvency administrator notified the press on 21 August.

An agreement in principle was reached to sell some operations in Britain. It is also in the process of selling its North American operations, which are in advanced talks, with a deal expected “shortly”, the administrator says.

The deal is subject to approvals by the Brazilian Central Bank and antitrust authorities.

PagSeguro Internet, a wholly-owned and fully-controlled subsidiary of PagSeguro Digital, signed a binding agreement to acquire 100% of Wirecard Brazil SA.

The deal is subject to approvals by the Brazilian Central Bank and antitrust authorities.

Wirecard Brazil has an innovative and experienced team that has built powerful online payment solutions with more than 200 thousand customers, including ecommerce platforms, marketplaces and virtual store platforms.

Their online solutions are available through application programming interfaces (APIs) and are integrated into more than 40 virtual store platform systems.

For PagSeguro, the acquisition of Wirecard Brazil will bring several advantages, starting with incremental total payment volume.

In addition, the combination of PagSeguro’s brand, complete portfolio of point of sale devices, reconciliation of transactions are complementary to Wirecard Brazil’s dynamic suite of online solutions.

It will allow PagSeguro to offer broader payment options and integrated end-to-end digital payment accounts that are 100% omnichannel for millions of customers.

Read more: Railsbank frontrunner to purchase Wirecard Card Solutions

Wirecard

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United Kingdom

E-commerce

Wirecard sells assets in Brazil to PagSeguro

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