Stripe wins business following Wirecard's collapse

Credit: REUTERS/ANDREAS GEBERT

BERLIN, July 17 (Reuters) - The U.S. payments company Stripe is picking up some former Wirecard WDIG.DE customers, an executive told Reuters.

"It is difficult to count the impact of Wirecard, but we know that some former Wirecard customers switched to Stripe," said Matt Henderson, who oversees Europe, the Middle East and Africa.

Stripe is unlisted but is valued at $36 billion.

Wirecard filed for insolvency last month owing creditors 4 billion euros ($4.56 billion) after disclosing a 1.9 billion euro hole in its accounts that its auditor EY said was the result of a sophisticated global fraud.

($1 = 0.8763 euros)

(Reporting Nadine Schimroszik; writing by Tom Sims)

((Tom.Sims@thomsonreuters.com; +49 69 7565 1242;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.