MUNICH | Wirecard AG has taken over the acquiring customer portfolio from Lufthansa AirPlus Servicekarten GmbH, Germany’s leading provider of payment and settlement solutions for business travel. The acquisition comprises credit card acceptance agreements and distribution agreements.
Acquiring High Volume Airline Customers
AirPlus has predominantly offered card acceptance agreements for Visa and MasterCard to its portfolio of primarily international airlines. These agreements will be transferred to Wirecard during the first half year of 2015. This integration will require no extra efforts from the respective high volume airline customers.
Jörg Möller, EVP Travel & Transportation at Wirecard: “We look forward to serving the clients of AirPlus. In future, they will benefit from many additional services, such as our fraud prevention management solution, access to smart online tools and real-time statistics.”
The purchase price consists of cash payments of around 13.0 million euros plus earn-out components of up to about 1.0 million euros for 2015 and 2016. Closing of the transaction is expected to take place in the first half of the year 2015.
Wirecard is a Germany-based electronic payment provider and one of the world’s leading independent providers of outsourcing and white label solutions for electronic payment transactions. A global multi-channel platform bundles international payment acceptances and methods, supplemented by fraud prevention solutions. For more information visit the Wirecard website.
Sourced from Press Release by Wirecard, March 3rd, 2015