Allianz Ends Relationship with Wirecard Amid Accounting Scandal

Allianz said on Wednesday that it was ending its relationship with Wirecard Bank and removing from the market a mobile payment app that the two companies had developed.

The move is further fallout in corporate Germany amid an accounting scandal involving the German payments company Wirecard.

The app “Allianz Pay & Protect” allowed payments on Apple and Android devices to have insurance protection.

A spokeswoman declined to say how many customers it had but said it would be useable until the end of August.

(Reporting by Alexander Huebner; writing Tom Sims; editing by Thomas Seythal)

Related:

• SoftBank May Sue Wirecard Accountant EY; EU Probes Germany’s Regulator
• ‘The Money’s Gone’: Wirecard Collapses Owing $4 Billion
• Former CEO of Wirecard Arrested in Accounting Scandal Involving Missing $2.1 Billion