Looks like another chapter is opening up for
Wirecard, the disgraced fintech out of Germany that
collapsed into insolvency earlier this year after facing a huge accounting scandal and subsequently failing to make payments on $1.5 billion in loans coming due.
Railsbank, the UK startup
backed by Visa and others that offers a range of financial and banking services by way of a set of APIs, has agreed to purchase Wirecard Card Solutions, the UK business that includes card technology and associated assets, including existing client business and some employees.
Terms of the deal are not being disclosed, but a spokesperson for Wirecard said that the deal is expected to be completed in November and represents a significant part of the bigger Wirecard business.
