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July 6, 2020

Contis rolls out migration platform for Wirecard’s European clients

Contis has rolled out a new solution to enable Wirecard’s European clients rapidly migrate their payment requirements.

The move comes in response to recent service outages, after Wirecard filed for insolvency late last month.

According to the company, it will implement new or migrate the payment programmes in weeks with minimal disruption to end-customers.

The migration will help the companies to avoid future outages and related uncertainties.

Contis founder and CEO Peter Cox said: “I truly empathise with Wirecard clients. Many have faced interrupted services for their customers, which erodes trust through no fault of their own.

“We have designed a solution to migrate service at speed that not only offers complete peace of mind, but also lays the foundation for excellent long-term partnership.”

Founded in 2008, Contis focuses on providing end-to-end banking and payments solutions.

The company is a principal member of Visa and offers issuing and processing services a cloud-based technology.

The banking and payments platform is PCI DSS Level 1 compliant.

German payment processor and financial services Wirecard filed for bankruptcy after $2bn of cash went missing from its balance sheet. The scandal led to the arrest its CEO Marcus Braun.

Last week, it was reported that Indian payments startup PineLabs is planning to acquire Wirecard’s Asia operations.

Wirecard’s Asia unit serves around 20,000 merchants.

 

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