Jun 1, 1999 CE
Wirecard Founded
Wirecard is founded in Munich, Germany, by Markus Braun, Burkhard Ley, and others, initially as a company providing payment processing and risk management services. #finance #Germany
Chronological Storyline (36 Milestones)
2002 CE
First Major Product Launch
Wirecard launches its first proprietary payment processing platform, targeting online merchants and e-commerce businesses in Europe. #payments #tech
Dec 1, 2005 CE
Entry into Mobile Payments
Wirecard introduces mobile payment solutions, capitalizing on the growing smartphone market and positioning itself as an innovator in digital finance. #mobilepayments
Oct 1, 2007 CE
IPO on Frankfurt Stock Exchange
Wirecard goes public on the Frankfurt Stock Exchange, raising capital to fuel expansion. The IPO is priced at €16 per share. #IPO #stockmarket
2008 CE
Acquisition of Wirecard Bank
Wirecard acquires a German banking license through the purchase of XCOM AG, rebranding it as Wirecard Bank AG, enabling it to issue credit cards and offer acquiring services. #banking #acquisition
Sep 1, 2010 CE
Asia Expansion: Singapore Office
Wirecard opens an office in Singapore to expand into the Asian market, targeting fast-growing e-commerce and payment sectors in the region. #Asia #expansion
Mar 1, 2011 CE
Acquisition of Allopass
Wirecard acquires the French mobile payment company Allopass, strengthening its mobile payment capabilities and European presence. #acquisition #mobilepayments
Aug 1, 2012 CE
Entry into Indian Market
Wirecard establishes a subsidiary in India to tap into the rapidly growing digital payments market. #India #expansion
Jan 1, 2013 CE
Acquisition of China's Rong E Ke Ji
Wirecard acquires a majority stake in the Chinese payment company Rong E Ke Ji, gaining a foothold in China's complex payments landscape. #China #acquisition
Sep 1, 2014 CE
Wirecard Joins DAX 30
Wirecard is included in the DAX 30 index of major German companies, reflecting its rapid growth and market capitalization. #DAX #stockmarket
May 1, 2015 CE
Acquisition of PaymentNetwork
Wirecard acquires PaymentNetwork AG, a German payment processor, to consolidate its domestic market position. #acquisition #payments
Nov 1, 2015 CE
Partnership with Alipay
Wirecard partners with Alipay to enable Chinese tourists to use Alipay at European merchants, boosting cross-border payment volumes. #Alipay #partnership
Mar 1, 2016 CE
Acquisition of CSG Software
Wirecard acquires CSG Software, a provider of payment solutions for the travel industry, expanding its vertical reach. #acquisition #travel
Aug 1, 2016 CE
First Whistleblower Allegations
A whistleblower, known as 'Mr. X,' sends a letter to Wirecard's auditors raising concerns about fraudulent transactions in the company's Asia operations. #whistleblower #fraud
By Leo Molatore - 0I3A2249, CC BY-SA 2.0, https://commons.wikimedia.org/w/index.php?curid=88455526
Jan 1, 2017 CE
Acquisition of Banks in the Philippines
Wirecard acquires a 100% stake in the Philippine bank, now called Wirecard Bank Philippines, to support its Asian expansion. #Philippines #acquisition
Sep 1, 2017 CE
Launch of Wirecard Cloud
Wirecard launches its cloud-based payment platform, targeting SMEs and simplifying digital payment integration. #cloud #payments
Feb 1, 2018 CE
Financial Times Investigation Begins
The Financial Times publishes the first of several investigative reports questioning Wirecard's accounting practices, particularly regarding its Asia operations. #media #investigation
Jun 1, 2018 CE
Indian Unit Scandal
Wirecard's Indian subsidiary is accused of improper accounting and data manipulation, leading to resignations of top executives in India. #India #scandal
Oct 17, 2018 CE
Raids by German Authorities
German prosecutors raid Wirecard's Munich headquarters as part of an investigation into market manipulation and potential accounting fraud. #investigation #raids
Apr 1, 2019 CE
Acquisition of SOFORT (Klarna Partnership)
Wirecard acquires the online payment service SOFORT from Klarna, strengthening its position in the German and European markets. #acquisition #fintech
May 1, 2019 CE
Jan Marsalek's Role Revealed
The Financial Times reveals that Wirecard's COO Jan Marsalek is under scrutiny for allegedly falsifying contracts and transactions. #executive #scandal
Jul 11, 2019 CE
KPMG Special Audit Announced
Wirecard's board announces a special audit by KPMG to address allegations of accounting irregularities, amid pressure from investors and regulators. #audit #governance
Apr 28, 2020 CE
KPMG Audit Results Published
KPMG releases its audit report, revealing that Wirecard's balance sheet may be inflated by €1.9 billion, with 'clear indications' of fraud. #audit #fraud
Jun 18, 2020 CE
Missing €1.9 Billion Revealed
Wirecard announces that €1.9 billion (US$2.1 billion) in cash on its balance sheet likely does not exist, leading to a massive share price collapse. #fraud #collapse
Jun 22, 2020 CE
CEO Markus Braun Arrested
Markus Braun, Wirecard's CEO, is arrested on suspicion of false accounting and market manipulation. He later posts bail. #arrest #executive
Jun 25, 2020 CE
Insolvency Filing Begins
Wirecard files for insolvency at a Munich court, admitting the company is unable to pay its debts. #insolvency #bankruptcy
Jul 2, 2020 CE
Jan Marsalek Vanishes
Wirecard's COO Jan Marsalek goes missing; he is later believed to have fled to Russia or another jurisdiction. #fugitive #mystery
Aug 19, 2020 CE
Wirecard Removed from DAX
Wirecard is removed from the DAX 30 index after its stock is suspended and the company collapses. #DAX #delisting
Sep 21, 2020 CE
Philippines Central Bank Investigation
The Bangko Sentral ng Pilipinas (Philippines central bank) investigates Wirecard's local bank for complicity in the fraud, leading to fines and penalties. #Philippines #regulation
Dec 1, 2020 CE
German Parliamentary Inquiry Launched
The German Bundestag launches a parliamentary inquiry into the Wirecard scandal, examining regulatory failures and political oversight. #politics #inquiry
Mar 1, 2021 CE
Sale of Wirecard's Core Assets Begins
Insolvency administrator Michael Jaffe begins selling Wirecard's viable business units, including the German bank and payment processing assets. #bankruptcy #restructuring
May 1, 2021 CE
US Department of Justice Charges
Three former Wirecard executives are indicted in the United States for conspiracy to commit wire fraud and money laundering. #legal #US
Jul 1, 2021 CE
German Parliament Report Published
The parliamentary inquiry report criticizes BaFin (German financial regulator) and the government for failing to act on early warning signs. #regulation #report
Apr 1, 2022 CE
Final Insolvency Proceedings
Wirecard's insolvency proceedings enter the final phase, with creditors likely receiving only a fraction of claims. #insolvency #creditors
Mar 1, 2023 CE
Markus Braun Trial Commences
The trial of former CEO Markus Braun begins in Munich, focusing on charges of fraud, market manipulation, and breach of trust. #trial #justice
Dec 1, 2023 CE
Oliver Bellenbaum Sentenced
Former Wirecard executive Oliver Bellenbaum is sentenced to prison for his role in the fraud, marking one of the first convictions in the scandal. #sentencing #conviction