Zatarra Research @ZRI2016 Response to #WDI statement - read the facts
see full document attached
Wirecard has provided investors, analysts and the media with false and misleading statements. Wirecard’s explanations to Zatarra’s findings have been so easily identified to be false and misleading that Wirecard has required continuous backtracking to its own statements.
Wirecard’s hope is that the majority of these recipients have not read Zatarra’s reports and are unfamiliar with the evidence contained within. For if they had, then they would easily be able to determine the false and misleading elements of Wirecard’s “rebuttal” and understand the significance of the evidence provided.
Quite simply, neither Wirecard, nor any of its promoters, have been able to disprove the extensive, documented and publicly available evidence that Zatarra has provided.
Zatarra encourages Wirecard’s investors, analysts and the media to become more familiar with the devastating evidence because there is much more to come.
In the meantime, you may find Zatarra’s response in red highlighting below as to how Wirecard’s “rebuttal” is false and misleading.
1. As one of the world’s leading online payment companies, Wirecard has excellent relations with all credit card organisations. It is an active licensee/member of such organisations through its regulated entities in the UK and Germany, and has been for more than a decade. Further to its role as an acquirer and issuer for various credit card organisations, Wirecard holds strategic partnerships with these card organisations and has acquired assets and subsidiaries from them.
2. Wirecard continuously discloses the nature of the transaction volumes processed by the company and the revenues related to each client industry segment in its audited annual reports. Online gambling transactions solely originate from regulated online gambling operators and volumes constitute about 7% of Wirecard’s total transaction volumes. They are aggregated under the ‘digital goods’ segment of Wirecard’s public reporting. Any claim that Wirecard obfuscates payment jurisdiction and associated merchant risk, to circumvent high risk categorization and authentication requirements within the credit card organisation networks, is wrong. Wirecard’s compliance and merchant account setup procedures are repeatedly audited by regulatory bodies as well as the credit card organisations themselves. The allocation of country and merchant category codes to individual merchant accounts is conducted fully in accordance with all regulatory, tax and credit card organisation rules.