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With the Collapse of Wirecard, Stripe Wins Business

By ET Bureau - July 20, 2020 1 Mins Read

With the Collapse of Wirecard_ Stripe Wins Business

Stripe, the payments company based in the US, has been picking up more business with the collapse of Wirecard, and many former Wirecard customers are now turning to it.

The company is currently valued at $36 billion. According to Matt Henderson, Business Lead for EMEA at Stripe, “It is difficult to count the impact of Wirecard, but we know that some former Wirecard customers switched to Stripe.”

Wirecard was filed for insolvency in June owing it creditors about 4 billion euros – after
disclosing a 1.9 billion euro gap in its accounts.

Source: Reuters


ET Bureau

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