The insolvency administrator of Wirecard Sales International Holding GmbH, Rechtsanwalt Dr Michael Jaffé, has successfully sold another Wirecard subsidiary.

Following an international bidding process, Wirecard’s Indian subsidiary Wirecard Forex India Private Limited has been sold to NIUM Pte. Ltd., a global payment service provider, specializing in the field of cross-border transfers and card issuance.

Wirecard Forex India Private Limited is a foreign currency exchange, pre-paid card and remittance service provider in India licensed by the Reserve Bank of India as Authorized Category II Money Exchange Dealer. The company, which has nearly 190 employees, provides the Indian market with foreign currency exchange and money remittance services.

The transaction is still subject to certain conditions, in particular, approval by the local banking control authority.

“Despite the pandemic’s negative effects, including the hard-lock downs in India, we have been able to secure a going concern of Wirecard Forex India’s business and successfully conduct a sales process in the best interest of the creditors,“ Dr Michael Jaffé explains.

In April 2021, Michael Jaffé secured a sale of the shares in Wirecard e-Money Philippines, Inc., Wirecard Payment Solutions Malaysia Sdn. Bhd., Wirecard (Thailand) Co., Ltd. and Wirecard Payment Solutions Hong Kong Limited to Nomu Pay Ltd, a company owned by British and Dutch Technology Investment Firm Finch Capital. The sales agreement also covers assets and licences associated with the data warehouse of Wirecard Asia Holding Pte. Ltd. and Wirecard Singapore Pte. Ltd.

In March 2021, Finch Capital, through Nomu Pay, a vehicle that invests in payment assets, reached an agreement to acquire Wirecard Ödeme Ve Elektronik Para Hizmetleri (Wirecard Turkey).

In January 2021, the sale of the Wirecard core assets to Banco Santander group was completed. Around 500 employees will become part of Santander’s Getnet platform. This way, almost all of the remaining jobs at the Aschheim site near Munich are preserved.