In 2018, everything was good. At the time of payment settlements were at once sexy, as the Dutch group, a brilliant stock market Adyen put debut and his German competitor, Wirecard, to the second floor of the stock trade advancement, and listed on the Dax. However, in the year 2019, the dark clouds moved on, as the “Financial Times” improper billing practices documented and the shares crashed course until today in turmoil. The preliminary climax of this development is the display of the German financial Supervisory authority Bafin against the Board because of the potential for market manipulation. Forced the question arises, whether the ruined reputation of Wirecard will damage the company.
Antonia man hamlet
editor in the economy.
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Franz Nestler
editor in the economy.
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To an answer, one must first understand the business, the Wirecard moved. The group has switched between dealers and customers and takes over the function of a mediator. Wirecard guarantees that after Paying with the card, the money will flow. For the acceptance of this guarantee, merchants must pay a risk premium. The is relatively low, however, with the rapidly growing Online Commerce, the electronic payments are rising so fast is a satisfying amount to the required sum.
But there is also the dangers of the business model shows that It is replaceable. The market is highly competitive. A Mediator is in principle as good as another. The products are comparable, is competing often on price. A long-rumored, Wirecard was able to pull the big fish with the payment processing from Aldi only to the country, because you have to applied with competitive prices.
Wirecard reputation is ruined
But now the reputation of Wirecard is ruined. Even long-time industry observers shake their heads: “I would invest in the share and not a Cent more,” says one who observed the Payment scene for a long time, but not mentioned by name, wants to be. And he restricts: If Wirecard makes the dealer a good deal, he sees little reason that this could be rejected. Others see the critical and see a face of true completion in 2019, as a decisive criterion. Although there is little impact on existing customers. But for new tenders that could be included in the Considerations of the company: If both offer the same product at similar conditions, it is then more likely for a company such as Wirecard, which is more preoccupied with themselves, or for a completely unsuspecting Intermediary? Wirecard is now an additional penalty that is still underestimated. Now, it might be more difficult to keep good people in the company, or to inspire talent when the company is so busy with itself. But who are the competitors, who could benefit from it are?
As the main competitors, an Analyst of a major British Bank looks primarily to the Dutch payment service provider Adyen. Customers will be able to dispense with Wirecard and other payment service providers to Dodge, so the Analyst. Not because of poor performance, but solely due to the Reputation. Adyen is always mentioned in one breath with the Dax group. Although it’s only been around for two years on the stock exchange, the price of the Dutch competitors through the ceiling. Since the stock exchange debut, the papers have risen by more than 370 percent. The company, according to Bloomberg, a stock weight of 34.4 billion euros on the pan – Wirecard is currently only 11.9 billion euros. And while Wirecard with the Aldi group landed a Coup, the customers of the Dutch company read like a “Who’s Who” of Silicon Valley with names like Ebay, Uber or Facebook.
Adyen goes on the offense before
On the question of whether customers could switch from Wirecard now, in the future, to Adyen, says the chief financial officer of the Dutch payment service provider, Ingo Uytdehaage, this newspaper quite clear: “Absolutely.” But he also stresses that the Wirecard accusations affect the industry as a whole, the payment service provider negative. Adyen self-use as well as never partners, Third-he says – Wirecard already. “So that we can ensure that the money of the transactions flowing only through our own platform.” The Dax-the group uses the so-called “Third Party Acquirer” (TPA), which are quasi as an intermediary between Wirecard and the dealers in the foreign countries where the group does most of its business and the license as a payment service provider has. The sales and the amount of the TPA-transactions of Wirecard could not be detected by the special audit by the accounting firm KPMG in April.
