South Korean credit card issuer BC Card has reportedly wholly acquired Vietnamese terminal firm Wirecard Vietnam as part of its Southeast Asian expansion strategy.
BC Card provides end-to-end payment services primarily to financial institutions as well as to merchants through its subsidiaries. Meanwhile, Wirecard Vietnam is the largest POS system provider in the Vietnam market.
With this acquisition, BC Card will work to advance the Vietnamese subsidiary's services and develop terminals compatible with various payment solutions, contributing to Vietnam's progress on digitalising the payments market.