Wirecard AG has acquired GFG Group Limited to enhance its payment solutions portfolio and expand its presence in the Asia-Pacific market.
Information on the Target
Founded in 1990, GFG Group Limited is a prominent provider of innovative payment solutions and services based in New Zealand. With an extensive reach, GFG Group's solutions are operational in over 20 countries and cater to more than 100 business clients, primarily within the banking and telecommunications sectors.
Industry Overview in New Zealand
The payment solutions industry in New Zealand has experienced notable growth over the past decade, fueled by technological advancements and increasing consumer demand for digital payment methods. With a robust banking sector, New Zealand has become a favorable landscape for fintech innovations, attracting both local and international investors.
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New Zealand's regulatory environment also plays a significant role in fostering fintech developments. The country’s Reserve Bank promotes competition and innovatio
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Wirecard AG
invested in
GFG Group Limited
in 2014
in a Buyout deal