Financial giants need to step aside and give the way to a new player on the market – Wirecard. The company is a German payment processer, whose stock has recently swung upwards by 9%.
What is Wirecard?
Processing digital payments between companies and their customers, Wirecard drives the online economy forward. Performing more than $100 billion worth of transactions worldwide, Wirecard takes a small fee, usually 1-2% of a transaction.
Currently, the company is planning to develop its business in the Asian region, though partnerships and acquisitions with Alipay, WeChat and Citigroup’s services in Asia.
Why is it worth your attention?
With $1.7 billion in annual revenue, Wirecard is constantly growing and shows huge potential.
During the last quarter, Wirecard’s revenue increased by 40 %. According to these amazing results, the company expects to make $3.4 billion in revenue by 2020.
With a European banking licence, it could soon grow into fully-fledged bank, advocating a new online economy.