Wirecard's Tech Assets and Platform Bought By Banco Santander

Wirecard's insolvency administrator Michael Jaffe on Monday said the payment system provider's technology platform had been sold to Spain's Banco Santander, Reuters reported. “Banco Santander will acquire the technology platform of the payment service provider in Europe as well as all highly specialized technological assets,” Jaffe said in a statement. In a separate statement, Banco Santander said it had agreed to acquire several highly specialised technological assets from the merchant payments business of Wirecard in Europe, to accelerate its growth plans in Europe. The acquisition does not include Wirecard companies and Santander will not assume any legal liability relating to Wirecard AG and Wirecard Bank AG or its past actions, Santander said. Read more