Since Sunday, the rumor mill has been bubbling: Are Chinese investors, with Alipay, acquiring a stake in the payment processor Wirecard? The shareholder Alipay now denies such reports.
The Munich-based company has been collaborating with Alibaba's Chinese payment subsidiary Alipay on selected projects for some time now. For example, starting in mid-July, thanks to the collaboration, Chinese tourists at Munich Airport will be able to pay via app. Regarding this collaboration, Markus Eichinger, Head of Mobile Services at Wirecard, said in mid-June, "[Alipay] ... is an important strategic partner for us."
Rumors about Alipay's entry denied
Recently reported Picture on Sunday and startup scene about a possible entry of the Alibaba Group into the Munich-based payment processing provider. Negotiations for a 25 percent stake were underway. However, Alipay has now denied these rumors.
Founded as a startup in Munich in 1999, Wirecard is now a publicly listed technology company with over 3,500 employees worldwide. As early as 2007, the company began tapping into the Asian market by establishing its own local companies.
