FinAi News

No products in the cart.

Subscribe
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
Log In
No Result
View All Result
  • Banking
  • Lending
  • Payments
  • Risk & Security
  • Strategy
FinAi News
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
BAN PLUS
Log In
No Result
View All Result
FinAi News
No Result
View All Result

Wirecard Optimistic About Its U.S. Prepaid Card Business

Diana AsatryanbyDiana Asatryan
November 18, 2016
in Banking, Payments
Reading Time: 2 mins read
0
Share on Facebook

wirecard1

Wirecard has crossed the pond and found the U.S. to still be the land of opportunity.

After quietly acquiring Citi Prepaid Card Services for an undisclosed amount (in cash) in June, Wirecard is now gearing up for transaction volumes of $6 billion as early as 2017.

The Aschheim, Germany-based payments processor expects that the prepaid business will add some $100 million in revenue by the end of next year, the company said in its 3Q earnings report, released Wednesday. The acquisition is part of Wirecard’s global expansion strategy, and is expected to close by the end of this year. Wirecard estimates U.S. transaction volume between 2018 and 2020 to grow 25% year-over-year. From the report:

In order to globally support customers both in the areas of acquiring and also issuing, as well as to accompany them internationally with their omnichannel strategies, it is necessary to have a worldwide presence. Wirecard started implementing this strategy at an early stage with its expansion into the Asia-Pacific region, Africa and South America. Following the expected conclusion of the acquisition of Citi Prepaid Card Services in the USA, global coverage has been essentially achieved.

Prior to the acquisition, Citi Prepaid Card Services initiated more than 2,500 card programs with various companies, primarily in the U.S. The portfolio is mainly comprised of incentive and compensation cards, Wirecard said, meaning gift and payroll cards, instead of general purpose reloadable cards.

Back in February, the banking software provider partnered with Monzo, a U.K.-based neobank, becoming the bank’s primary card issuer.

Tags: CitibankPrepaid CardsWirecard
Previous Post

Revolut Disables Cards for Customers Outside EEA

Next Post

Three Market Opportunities In Insurance Asset Management

Related Posts

MIcrosoft Cloud
Banking

Dollar Bank taps Microsoft Copilot for personal assistants

July 28, 2026
(Courtesy/Happen Bank)
Banking

Happen Bank attributes loan volume growth, call center staffing declines to AI

July 28, 2026
Visa debit and credit cards
Banking

Visa to cut 7% of workforce as CEO seeks to revamp company

July 28, 2026
Next Post

Three Market Opportunities In Insurance Asset Management

Please login to join discussion

EMERGING FINTECH DIRECTORY

Emerging Fintech Directory

The Buzz Podcast

SPONSORED

Build an Antifragile Strategy to Outperform the Market

July 14, 2026

How AI and Product Experts Turn Fuzzy Requirements Into Focused Dev-ready Roadmaps

April 19, 2026

Is Your Technology Supplier There for You?

April 1, 2026

  • About Us
  • Help Center
  • Contact Us
  • Privacy Terms
  • ADA Compliance
  • Advertise

 [wt_cli_manage_consent]

Connect

twitter linkedin podcast podcast podcast
© 2026 Royal Media
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Unlock This Article

Create your free FinAi News account to access this article and stay informed on how AI is transforming financial services including banking, lending, payments, and risk.

Yes, I'd like to receive FinAi News updates, breaking news, and exclusive AI insights for financial services leaders.

Continue Reading with FinAi News Premium - Less than $2/Day

Upgrade to FinAi News Premium for unlimited access to news, insights, trends, and intelligence on how AI is transforming financial services including banking, lending, payments, and risk.
Upgrade to FinAi News Premium Subscription
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account