Buying Wirecard AG shares
Financial services and technology company Wirecard AG operates worldwide. This company provides payment processing services, card issuing services, and risk management services. The company’s payment processing and risk management platform supports over 85 local and international payment and fraud systems. Wirecard is headquartered in Germany. Would you like to invest in Wirecard by buying the shares? In this article, you will read everything you need to know.
Please note:that there has been large-scale fraud committed by Wirecard which is causing the company serious problems. The price of the stock is likely to drop to €0. You can still trade-in price differences until the stock is worth nothing at all.
Where can you buy Wirecard AG stocks?
Paying online is the future. More and more people are expected to make transactions online. This can make it very attractive to invest in companies that are involved in this business. Would you also like to invest in Wirecard by buying the shares? Then eToro is a good choice! At this broker you can buy Wirecard stocks without any transaction costs. Use the button below to immediately open a free demo:Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.
How can you actively invest in Wirecard?
Would you rather actively invest in Wirecard? You can do so utilizing CFDs. With a CFD, you can place orders on both rising and falling prices. This makes it possible to respond to the news. If, for example, there are signals that a company has committed fraud, you can open a short position on the stock. With a short position, you can obtain a positive result when the price falls.
Would you like to try this method of trading? Then Plus500 is a good party. At Plus500 you can use CFD’s to speculate on the price development of Wirecard:72% of retail CFD accounts lose money.
What is the current stock price of Wirecard?
Are you curious about the current CFD price of the company Wirecard? Below you can see the price development of the company. You can also use the buttons to open a position directly.
Is it wise to invest in Wirecard?
It is certainly not wise to invest in the company Wirecard. A large-scale fraud recently came to light. Rumours had been circulating for some time that the company’s profit figures could not be correct. The final fall followed when the accountant firm Ernst & Young was unable to find over €1.9 billion on the balance sheet. The police eventually decided to raid several of the company’s offices.
As a result, the company had to apply for bankruptcy. This is the first time that a company in the DAX30 had to take this step. In the meantime, European investors are trying to get compensation from the audit company EY, which did not discover the company’s problems.
The 1.9 billion that disappeared was a quarter of the company’s total assets. The various companies that have more than 2 billion in loans outstanding with Wirecard can reclaim their money. The prospects for Wirecard are therefore poor.
Nevertheless, there are still shareholders who hold or even buy Wirecard shares. They hope that the sale of the intangible assets will still yield money. However, the chances of this are slim, as the brand name is smeared. I would certainly not buy Wirecard stocks myself. The investor who is not afraid to take big risks can still consider speculation on the stock.
An own internet payment system
Wirecard is also the name of the payment system developed by the company. This system was introduced in 2006. Consumers can open an account with Wirecard Bank by registering online. This account must be funded with money by the consumer. The account can be funded with cash, transfers, cards or a local payment system.
Free prepaid virtual MasterCard
The Internet payment system also offers a virtual MasterCard for consumers. With this virtual Mastercard, you can pay worldwide at Mastercard locations. Users of Wirecard’s Internet payment system can also send money to each other in real-time. Customers can also opt for a real MasterCard.
Automatic handling of global payments
One of Wirecard’s products is Supplier and Commission Payments (SCP). With the SCP, payments to suppliers and vendors around the world can be handled automatically. There are supplier or commission payments that take place internationally. This is, for example, the case with intermediary commissions that hotels have to pay to travel agencies.
How are these payments processed and handled? Through the electronic processing of ‘virtual’ credit card numbers. These are credit card numbers that are used to a limited extent.
Issuance of credit cards
2019: Accounting fraud by payment processor?
In October 2019, the Financial Times put documents online. These documents would show that Wirecard committed accounting fraud. Figures on turnover and profit were said to have been jacked up. The company denied the accounting fraud. The company has an accountancy firm KPMG to do independent research.
This kind of news item can put the price of a share under strong pressure. These can be a great buy or sell opportunities for shares.