Wirecard Statement 29. Mai 2019
Wirecard Statement 29. Mai 2019
Comment on Wirecard global operation structures
Wirecard’s corporate structure reflects its innovative go-to-market and organisational approach. Wirecard’s sales organization is structured along industry verticals, notably consumer goods, digital goods as well as travel and mobility. Wirecard’s technology development and operations are structured along product verticals, such as payment acceptance, issuing, analytics, risk management and other value-added services, which are all integrated in Wirecard’s single platform.
All key operational performance indicators are structured along those verticals and geographical aspects are only of limited relevance. Certain financial metrics are aggregated on pro-forma level for Europe, APAC/MEA and the Americas for reporting purposes. All subsidiaries are fully integrated in this governance approach. The local financial results of a subsidiary are in no way representative of the business performance and overall financial contribution of a regional market to Wirecard’s financials since most costs and revenues will not accrue locally and are hence not reflected in the local books. Customers contract partially with local entities, usually for regulatory reasons, but mostly with international service delivery hubs.
Wirecard’s four primary global product and service delivery hubs serve customers globally with standardised offerings and are located in Germany (Wirecard Technologies GmbH, Wirecard Acquiring & Issuing GbmH, Wirecard Bank AG), Dubai (Card Systems Middle East FZ LLC and Wirecard Processing Dubai FZ LLC), Ireland (Wirecard Payment Solutions Holdings Ltd., Wirecard UK & Ireland Ltd.) and starting in 2017 Wirecard’s subsidiary in the US (Wirecard North America Inc). Issuing is mostly operated out of Germany, Dubai and the United States while payment acceptance services are mostly operated out of Germany, Ireland and Dubai. Sales, in accordance with industry vertical focus areas, and general administrative costs are distributed globally. Software development is mostly conducted in Germany, Slovakia, Indonesia, and (with smaller teams) in Singapore, Austria, Malaysia, Canada, New Zealand and India. About 20% of value-added originates from highly localized value propositions. Such products and services are mostly developed and delivered by the local subsidiary directly.
The Group non-financial report can be downloaded here:
https://ir.wirecard.com/download/companies/wirecard/Annual%20Reports/NFE_2018_EN_websecured.pdf