Wirecard's group of companies, 2010–2019

analysisWirecard's 2010 annual report lists its subsidiaries, each held at 100%: Click2Pay GmbH; InfoGenie Ltd. of Windsor; Wirecard (Gibraltar) Ltd.; Trustpay International GmbH, formerly Trustpay International AG; the Dublin companies Wirecard Payment Solutions Holdings Ltd., Wirecard UK and Ireland Ltd. (formerly Wirecard Payment Solutions Ltd.) and Herview Ltd.; Wirecard Central Eastern Europe GmbH of Klagenfurt; Wirecard Technologies AG; Wirecard Communication Services GmbH of Leipzig; Wirecard Retail Services GmbH; cardSystems FZ-LLC of Dubai; Wire Card Beteiligungs GmbH; Wirecard Bank AG; and in Asia E-Credit Plus Pte. Ltd. (later Wirecard Asia Pte. Ltd.), E-Credit Plus Corp. of the Philippines, Credence Collection SDN BHD of Malaysia and E-Payments Singapore Pte. Ltd. To simplify the group, Pro Card Kartensysteme GmbH was merged into Wirecard Retail Services GmbH in 2010 and webcommunication EDV of Graz into Wirecard Central Eastern Europe; 18 subsidiaries were fully consolidated at the end of 2010, against 16 a year earlier. ¹

analysisIn 2011 the number of fully consolidated subsidiaries rose to 22 with Procard Services FZ LLC of Dubai and Systems@Work Pte. Ltd., Systems@Work (M) SDN BHD and Safe2Pay Pte. Ltd. in Singapore and Kuala Lumpur, and the Malaysian Credence Collection became Wirecard Malaysia SDN BHD. Wire Card Beteiligungs GmbH and Trustpay International GmbH in Aschheim acted as intermediate holding companies without operating business of their own and, with Wirecard Technologies AG, were exempt from preparing their own consolidated accounts because Wirecard AG's group accounts covered them. The 2011 report describes Wirecard Technologies AG and Wirecard (Gibraltar) Ltd. as developers and operators of the software platform at the centre of the group's products, Click2Pay GmbH as operator of the CLICK2PAY internet payment system, and the Dublin companies and Wirecard Central Eastern Europe as providers of sales and processing services. ²

analysisESMA notes that the 2014 consolidated accounts covered 33 wholly owned companies. By the end of 2016, 46 subsidiaries were fully consolidated, against 37 a year earlier, and the shareholdings list included companies that no longer appear under those names in 2018, such as Payment Technologies Ltd. of Wilmington, Provus Service Provider S.A. of Bucharest and Trans Infotech (Vietnam) and (Laos). The 2017 list records Provus as Wirecard Romania S.A., Trans Infotech (Vietnam) as Wirecard (Vietnam) Ltd. and Systems@Work as Wirecard Singapore Pte. Ltd. In 2017 the group founded Wirecard (Thailand) Co. Ltd., Wirecard E-Money Philippines Inc. and three German companies in Aschheim: Wirecard Issuing Technologies, Wirecard Service Technologies and Wirecard Acceptance Technologies. ^{1 2 3}

analysisThe shareholdings list in the 2018 annual report counts 53 fully consolidated subsidiaries (50 a year earlier), all held directly or indirectly at 100% except GI Technology Pte. Ltd. of Chennai, held at 60% and accounted for by the equity method. Besides the holding companies in Aschheim and Dublin it includes Asian companies such as Wirecard Asia Holding Pte. Ltd. and Wirecard Singapore Pte. Ltd., PT Prima Vista Solusi and PT Aprisma Indonesia, Wirecard India Private Ltd., Hermes I Tickets Pte Ltd of Chennai, GI Philippines Corp and Wirecard Forex India; Wirecard Romania with Romcard and Supercard of Bucharest; Wirecard companies in Poland, Mexico, Brazil, Turkey, Luxembourg, Slovakia, South Africa, Namibia, Australia, New Zealand, Hong Kong and Moscow; American Payment Holding Inc. of Toronto and Wirecard North America Inc. of Conshohocken; the Dubai companies cardSystems Middle East FZ-LLC and Wirecard Processing FZ LLC; and Wirecard Bank AG, Wirecard Acquiring & Issuing GmbH and Wirecard Card Solutions Ltd. of Newcastle. The 2019 prospectus adds the companies founded in 2018 in Košice, Moscow, Luxembourg and Windhoek and three founded in 2019: Beijing Wirecard Technology Solutions, Wirecard U.S. Holdings, Inc. and WDB US, Inc. of Salt Lake City. ^{4 5}

analysisThe 2019 bond prospectus still lists every subsidiary at 100% except GI Technology (60%), among them PT Wirecard Technologies Indonesia, Wirecard Solutions South Africa (Pty) Ltd of Cape Town, Wirecard Bank AG, Wirecard Card Solutions Ltd. and Wirecard North America Inc. The half-year report at 30 June 2019 counts 53 fully consolidated subsidiaries, names PT Wirecard Technologies Indonesia as the former PT Aprisma Indonesia and records the merger of Wirecard South Africa and MyGate Communications into Wirecard Africa Holding Proprietary Ltd. of Cape Town. ^{5 6}

analysisWirecard Sales International Holding GmbH began as the shelf company Blitz 07-210 AG, registered in Munich on 30 April 2007 under HRB 167639 with capital of EUR 50,000; as Trustpay International AG it later moved to Grasbrunn. It was deleted on 24 August 2010, when it was converted into Trustpay International GmbH (HRB 187465), which its shareholders renamed Wirecard Sales International GmbH on 10 May 2012 and Wirecard Sales International Holding GmbH on 18 July 2016. According to the 2019 prospectus Wirecard AG was its sole shareholder, its capital of EUR 50,000 consisted of one share and BakerTilly audited its accounts. Its control and profit-transfer agreement with Wirecard AG, concluded on 10 May 2012 and registered on 11 July 2012, ended by termination on 20 August 2020. ^{1 2 3 4}

analysisWirecard Technologies GmbH was formed on 13 August 2012 by converting Wirecard Technologies AG. According to the prospectus that company started on 24 August 2000 as a shelf company registered in Potsdam, was renamed "Wirecard AG" on 21 January 2002, a name that then belonged to this predecessor and not to the listed parent, which was called InfoGenie Europe AG and later Wire Card AG, took the name Wirecard Technologies AG on 17 December 2004 and has had its seat in Aschheim since 11 April 2011. The prospectus describes it as an intermediate holding company wholly owned by Wirecard AG and parent of Wirecard Issuing Technologies and Wirecard Acceptance Technologies among others, with share capital of EUR 1,101,000 and EY as auditor for 2017 and 2018. Its register shows a profit-transfer agreement of 19 July 2005 with Wire Card AG and a control agreement of 7 May 2008 with Wirecard AG, both terminated at the end of 2018, and a new profit-transfer agreement of 11 December 2018 that ended by termination on 20 August 2020. ^{2 5 4}

analysisWirecard Acquiring & Issuing GmbH (HRB 156848, capital EUR 25,000) was registered on 15 April 2005 as the shelf company Blitz 05-059 GmbH. In June 2005 it became Wire Card Beteiligungs GmbH, moved to Grasbrunn and took on the purpose of acquiring and managing holdings; it received its later name on 10 May 2012, the day it concluded a control and profit-transfer agreement with Wirecard AG that ended with effect from 20 August 2020. Click2Pay GmbH (HRB 149001) was registered on 1 September 2003 as Matterhorn 291. V V GmbH and moved through Hallbergmoos and Grasbrunn to Aschheim; its control and profit-transfer agreement of 28 May 2004 with InfoGenie Europe AG, later Wirecard AG, ended by termination on 10 September 2020. Wirecard Global Sales GmbH (HRB 223366) was founded on 15 January 2016 as Wirecard Sales Europe GmbH, a holding company for interests in payment-system companies with capital of EUR 50,000, and was renamed by a resolution of 18 January 2016 registered on 22 July 2016. ^{6 4 7 8}

analysisThe three companies founded in 2017 were registered between September 2017 and January 2018: Wirecard Issuing Technologies GmbH (HRB 235570), Wirecard Acceptance Technologies GmbH (HRB 238107) and Wirecard Service Technologies GmbH (HRB 238150), each with capital of EUR 25,000 at Einsteinring 35 in Aschheim, developing payment, risk and cash-management applications. Wirecard Communication Services GmbH, which provides communication and call-centre services, was founded in Berlin on 7 May 2003 as United Data GmbH, moved its seat to Leipzig by a resolution of 22 January 2009 (HRB 24925, capital EUR 30,400) and is shown in a register database as in liquidation. ^{9 10 11 12 13}

analysisWirecard Payment Solutions Holdings Limited (Companies Registration Office number 409925) was first named Gateway E-Commerce Solutions Holdings Limited and then Gateway Payment Solutions Holdings Limited, and has carried its current name since 21 December 2007. The 2019 prospectus describes it as an Irish holding company wholly owned by Wirecard Sales International Holding GmbH, itself wholly owned by Wirecard AG. Ireland's Corporate Enforcement Authority states that from 2015 it was the sole shareholder of Wirecard UK & Ireland Limited, which processed credit and prepaid card transactions and belonged to the same group as Herview Limited. Wirecard UK & Ireland became insolvent as a result of the suspected fraud in the Wirecard AG group, which included EUR 1.9 billion supposedly held in an escrow account that was later found not to exist. A commercial database shows both Irish companies, incorporated on 25 October 2005 with a Dublin address, in liquidation, with liquidator's statements up to August 2026. ^{1 2 3 4}

analysisIn Dubai, CardSystems Middle East FZ-LLC was, according to the 2019 prospectus, an indirect subsidiary of Wirecard AG wholly owned by Wirecard Technologies GmbH; it operated in the group's Asia-Pacific region and cooperated with banks and financial service providers so that it could offer acquiring and issuing services where Wirecard could not use its own licence. Wirecard Processing FZ LLC, also in Dubai, was a direct wholly owned subsidiary of Wirecard AG whose directors were Oliver Bellenhaus and Susanne Steidl. ¹