Tag: fin-tech

Wire Card’s missing 1.9 Billion Euros- the Accounting Scandal That Broke the Internet

For the last year, the Financial Times had been reporting that Wirecard, the German payment processing Fintech Company which was launched during the “dotcom” boom in 1999 helping websites and merchants collect credit card payments from their customers was faking some of its revenue. Wirecard fought back accusing the reporters for conspiring with short sellers to push down its stock price. About a month ago, Wirecard disclosed that some of its cash was missing and eventually admitted that there is a likelihood that the bank account with which the sum of 1.9 Billion Euros was in, does not exist.

Tech Companies Eventually Provide Financial Services- Google To Launch New Debit Card

Once considered an industry joke, this statement is slowly becoming a reality. Recent reports highlighted that Google in partnership with CITI and Stanford Federal Credit Union is testing its own Google-branded smart debit card (a Visa card which will expand to other payment processors like MasterCard) that will help customers make and track purchases made online and in stores.