Wirecard is a German payments group that collapsed this year following an accounting fraud scandal. The company has over 200,000 customers in Brazil, for whom they provide an online platform for processing digital payments.
The Wirecard products are integrated in more than 40 online stores and systems in Brazil. With the purchase of Wirecard, PagSeguro’s portfolio will now be able to offer digital accounts 100% omnichannel, as well as improved digital finance services with Wirecard’s features.
The purchase follows PagSeguro’s acquisition of Zygo Tecnologia earlier this month to support SME restaurants during the COVID-19 pandemic. Since the start of 2020, PagSeguro has experienced a 15% growth, and their customer base has grown 25%, to 5.5 million people as more people turn to e-commerce during the pandemic.
The purchase of Wirecard Brazil’s operations are still to be finalized. Similar agreements are underway in Britain with Railsbank Technology, and also in North America.
Read more on Labs.