Report
Richard-Maxime Beaudoux

Payments & Security: Buy Wirecard and Worldline in early 2019

Payments & Security
Buy Wirecard and Worldline in early 2019

Earnings growth potential over 2018-20e: we spot WDI and WLN
PSD2 / Instant payments: we spot WLN and WDI
Special situations: we spot ING and SCH
Underlyings
Worldline SA

Worldline is a financial transaction processing company based in France. Co's operations are organized along three segments covering payments and digital services: Merchant Services & Terminals (facilitating consumer engagement around end-to-end e-payment transactional services on any device – before, during and after the point of sale); eMobility and eTransactional Services (assists businesses and governments in developing new digital services enabling strategic digital transformation); and Financial Processing & Software Licensing (provides processing services to banks and financial institutions for managing card-based and online cashless payments).

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Richard-Maxime Beaudoux

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