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Portugal's Sibs buys Wirecard Romania business

Portugal's Sibs buys Wirecard Romania business

Portuguese payments processor Sibs is the latest firm to pick up a piece of the Wirecard empire, acquiring its operations in Romania.

Sibs has bought Romcard/Supercard (formerly Wirecard Romania), strengthening its hand in the Central and Eastern European market, where it has previously bought Poland's Paytel.

The business serves major banks and retailers with operations in Romania, and in other markets, such as Moldova, Serbia, Hungary, Kosovo, Montenegro, Macedonia and Lithuania. It provides digital and e-commerce tools to merchants as well as loyalty programmes and card personalisation services.

The break-up of the various international parts of disgraced German processor Wirecard has already seen Railsbank buy the UK unit, PagSeguro Digital the Brazilian business and Change Financial move for the Australian and New Zealand operations.

Madalena Cascais Tomé, CEO, Sibs, says: "Romania is the seventh largest European market with an accelerated growth path, both in economic terms and in the payments sector. This move represents a great opportunity to Sibs to continue to grow and develop payment solutions on a European scale, standing out among its peers."

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