August 7, 2019 / 11:56 AM / 2 months ago

Wirecard CEO - Implied take rate in 2020 outlook is very conservative

FILE PHOTO: Markus Braun, CEO of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions attends the company's annual news conference in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder

FRANKFURT (Reuters) - The implied fee, or take rate, factored into Wirecard’s (WDIG.DE) upgraded outlook for next year is very conservative, the German payments company’s chief executive, Markus Braun, said on Wednesday.

Wirecard earlier upgraded its “Vision 2020” targets for revenues and transaction volumes to 3.2 billion euros ($3.6 billion) and 3.2 billion euros respectively, implying that it will earn 1.4% on the transactions it handles.

That compares with a take rate of 1.58% in the first half of this year, Braun told analysts on a conference call. “This is very much on the conservative side. Here we are keeping the powder dry,” he said.

Reporting by Douglas Busvine; Editing by Michelle Martin

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