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How Wirecard Went From Tech Star to Bankrupt – The Wall Street Journal


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How Wirecard Went From Tech Star to Bankrupt – The Wall Street Journal

Markus Braun built Wirecard AG from an obscure firm based in a small town outside of Munich into a global electronic-payments giant. From its perch at the crossroads of online commerce, Wirecard extracted fees for processing credit-card transactions on behalf of businesses. It pushed into emerging markets, bought up smaller firms and struck partnerships to…

Markus Braun built Wirecard AG from an obscure firm based in a small town outside of Munich into a global electronic-payments giant.

From its perch at the crossroads of online commerce, Wirecard extracted fees for processing credit-card transactions on behalf of businesses. It pushed into emerging markets, bought up smaller firms and struck partnerships to recruit more customers. In its financial statements, sales and profits ticked steadily upward.

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