The case of Wirecard. Ensure an easy changeability of your PSS
04 MAY 2021

Ensure an easy changeability of your PSP. The case of Wirecard.

The Wirecard affair has shaken the financial industry not only in Germany and Europe but also worldwide. Wirecard is suspected of having engaged in a series of fraudulent accounting activities to inflate its profit. A recognisable and seemingly credible brand suddenly declared itself bankrupt, leaving its existing business partners without further support or services. A situation that had no right to happen did just that, and it happened in front of the whole world.

Nevertheless, we were prepared and provided a safety buffer for all ANIXE’s customers.

These situations are always tricky from a business perspective. For payment providers like Wirecard and the B2B customers that use their services exclusively, a similar situation carries the risk of preventing end customers from paying for services. For companies with online sales, this is the darkest possible scenario, as card purchases account for up to 90% of total purchases, compared to other forms of payment. Therefore, there is a lot to protect oneself against, especially since the integration of a new supplier requires time and effort and sometimes a tendering procedure.

ANIXE has equipped the Resfinity AIR and Resfinity Hotel platforms with our proprietary Secure Payment Gateway. Its modular design enables integrating multiple payment service providers (PSS) as configurable plug-ins and quick replacements for one another.

ANIXE’s Payment Gateway meets the highest security standards. Its security level is positively evaluated by IBM, which annually evaluates PCI DSS compliance and issues confirmation certificates. Furthermore, it is equipped with a Business Rules Engine for PSP. It also enables the selection of forms of payment per context. And of course, it allows for the integration of other supplementary services like insurance, where the protection of online payments with credit cards is a must.

In the case of our client and the problems caused by the collapse of Wirecard, ANIXE fully supported the partner and switched to an alternative PSS. ANIXE’s Secure Payment Gateway offers PSS redundancy and ultimate financial security.

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Tags: cybersecurity safe payments wirecard bankruptcy security payment gateway pss certificate safe payments travel technology provider airlines ibe hotels ibe