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Banco Santander to Acquire Wirecards’s Technology Assets

Following a series of accounting fraud scandals that resulted in the insolvency of German processor and payments provider Wirecard AG, Banco Santander will be acquiring their payment technology assets for €100 million.

The acquisition only includes the assets related to merchant services and payment processing with the approximately 500 employees who manage the assets, who will now join GETNET, Banco Santander’s global merchant services team.

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