Wirecard Says Audit Finds No Account Manipulation

Wirecard Says Audit Finds No Account Manipulation

German payments company Wirecard said that an auditing firm it hired found no evidence of account manipulation, according to a report by Reuters

Auditing firm KPMG, hired by the company, found no discrepancies in Wirecard’s India and Singapore operations, or in the Digital Lending or Merchant Cash Advance departments.

The probe has “not produced any substantial findings” that would make the company alter its yearly statements from 2016 through 2018. KPMG was hired last year after a series of articles in The Financial Times said that the company altered its accounts. The company’s value suffered as a result.

Despite the ongoing scandal, Wirecard has been attempting to move forward with its business. On Thursday (March 11), the company said that it was teaming up with Sweden’s FinTech startup Klarna on integrated payments.

The move is going to bring three payment methods, Pay Now, Pay Later and Klarna Financing, to Wirecard’s commerce platform.

“We are proud to team up with Wirecard to combine the best of our offerings into a single solution,” said Luke Griffiths, commercial vice president at Klarna. “Our joint partnership will enhance both the merchant and end-customer experiences while expanding our footprint to more geographies. We are looking forward to launching this attractive solution on a global scale.”

The collaboration is going to be available in Sweden, Norway, Finland, Denmark, Switzerland, Germany, Austria, Netherland and the United Kingdom. It’s going to add Australia and the U.S. in the near future.

“Shoppers seek, above all, a frictionless shopping journey,” said Kilian Thalhammer, executive vice president product management at Wirecard. “Together with Klarna, we will give shoppers exactly that: a hassle-free shopping experience, on their terms. Merchants will also benefit from a more streamlined and efficient integration — meaning that merchants and shoppers are that much closer to their ideal checkout experience. We are happy to join forces with Klarna.”