New problems for Wirecard: The Dax group does not yet have a license to continue offering certain payment services in Singapore in the future . Corresponding information from WirtschaftsWoche confirmed a spokeswoman for the Central Bank of Singapore, the authority is also the financial supervision of the country.
A few months ago, the financial regulator introduced a license obligation for payment service providers, which is mandatory in order to be able to offer certain payment transaction services in the future. The license obligation has been in effect since January 28, 2020. According to the financial regulator, Wirecard has not yet had this license, unlike other international financial service providers such as Wirecards' Dutch competitor Adyen.
Singapore is an important market for Wirecard . It is unclear whether and with what restrictions the German Dax group can be expected. It is also unclear in what form regulations apply here for a transition period of up to twelve months. Wirecard made no statement.