Banking News

Santander Acquire Wirecard Technology Assets and Platform

Santander Acquire Wirecard Technology Assets and Platform

(20 November 2020 – Europe) Santander have acquired Wirecard’s technology platform following the payment provider’s recent insolvency.

Santander have also acquired several other specialised technology assets from the payment provider’s merchant business. All of the acquisitions will help the bank accelerate its growth plans throughout Europe.

Approximately, 500 Wirecard employees will join Santander by the end of the year. Most of the employees currently managing the acquired assets will become part of Santander’s global merchant services team.
“Banco Santander will acquire the technology platform of the payment service provider in Europe as well as all highly specialized technological assets” commented Wirecard Insolvency Administrator, Michael Jaffe

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