Wirecard just a thought

Now wirecard is in the phase of being dismantled and sold off in bits have you looked into anything that may be useful to coconut?

Hey Kevin - welcome to Coconut Bite!

What sort of things are you talking about in regards to this?

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I was just wondering if there was anything that they had that could be used for functionality systems etc. I don’t know anything about the back end systems etc. I was just speculating that there may be something of use. If not doesn’t matter, as I said it was just a thought and it would come cheap probably as bankrupt stock.

Hi Kevin, this is a very interesting thought. I’m not exactly sure where the UK entity of Wirecard is going to end up. It may be acquired as it has a business in its own right. But for now it’s continuing operations.

Tech-wise, they are a bit dated and so we would probably look to build rather than buy on that front.

One interesting area could be regulation. In fact Wirecard acquired the Newcastle Building Society’s card issuing operations to get started in the UK originally. We don’t at the moment plan to become an emoney issuer though, so for now we think this is not the right move.

I will take a look though and keep a close eye on developments, as with all these things, some interesting ideas may come out and perhaps some opportunities we hadn’t considered before.

Sam