Wirecard Solutions South Africa sold to Adumo RF
The insolvency administrator of Wirecard Technologies GmbH today announces that Adumo RF Pty Ltd, South Africa’s largest independent payment service provider, has acquired Wirecard Solutions South Africa (Pty) Ltd.
The successful sale of Wirecard Solutions South Africa is announced about a month after Banco Santander agreed to acquire several highly specialised technological assets from the merchant payments business of Wirecard in Europe.
Wirecard South Africa maintains its own independent technology platform that is adapted to local banking infrastructures and regulatory guidelines in South Africa and other countries south of the Sahara. In the bidding process, Wirecard South Africa therefore attracted the interest of local, regional and international companies.
With the acquisition of Wirecard South Africa, Adumo is consolidating its leading position as an African fintech that now enables true omnichannel payment processing for e-commerce as well. The Adumo Group includes other well-known payment service providers such as Sureswipe, Innervation Pan African Payments and iKhoka.
The sale of Wirecard South Africa includes Wirecard Payment Services Namibia (Pty) Ltd and is subject to approval by local regulators.
As FX News Group reported in mid-October this year, investor was found for Wirecard Retail Services GmbH. Several days later, daVinci Payments and North Lane Technologies, formerly Wirecard North America Inc., announced that they were combining to establish a premier payment company with innovative technology and solutions.