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Wirecard's Decline

The German payment processing company, Wirecard Bank, has been implicated in a pending case in the US right now that has sent the company’s stock prices simply plummeting this week. The US Department of Justice is a formidable foe and one that these payment processing companies are specifically and clearly crossing when they process gambling transactions between the offshore online casinos and US players. Wirecard undoubtedly knew this day was on the horizon when it allegedly laundered money for a Florida based German who was using a US company to payout online casino winnings to US players – but the company could not have predicted just how quickly the company’s investors would jump ship and sell off their shares.

Wirecard’s stock dropped a significant 16 percent as soon as the news hit the international financial sector that the US Department of Justice had implicated the payment processor in illegal online casino gambling activity. The last payment processing case to process through the US was Neteller – and the results were similar, a drop in stock prices and a slow growth back up the chain after the e-payment processor tucked its tail between its legs and began operating only online casino gambling transactions in the UK and European markets.

Similarly, Wirecard is in the decline stage and there isn’t really anything that the company can do at this point. Even if the allegations don’t prove true (which is highly likely considering the number of online casinos able to still operating in the US) then the mere whisper of implications is enough to cause Wirecard a good deal of financial distress.