Wirecard AG handling financial processes for Internet consumer electronics store myby

Munich/Grasbrunn, October 22, 2007. myby GmbH & Co. KG, a joint venture between Arcandor AG and Axel Springer AG, has opted for Wirecard AG's payment and receivables management services. The package of solutions for the new Internet consumer electronics store myby entails the handling of payment solutions including banking services via Wirecard Bank AG as well as management of the financial back office.

Launched at the beginning of October, the consumer electronics store combines for the first time the advantages of a brick-and-mortar retailer with the benefits of a specialist online shopping portal. With inexpensive prices, competent advice and reliable service, www.myby.de has set itself the goal of becoming the premier retailer of consumer electronics.

Munich-based company Wirecard AG has been working with its partner ScoreControl GmbH in the area of receivables management for a number of years. The two companies have pooled their respective core services to come up with an innovative solution which permits fully automated coordination of payment and receivables management.

The combination of payments, bank services and receivables management allows crucial synergistic benefits to be harnessed, e.g. by reducing manual processes, resulting in heightened transparency and reduced costs.

Says Jens Schwinzer, head of customer service at myby: "The main reason prompting our decision to go with Wirecard AG was the prospect of obtaining crucial process and cost advantages thanks to the innovative integrated package of services comprising technology, banking and service."

"As a specialized service provider for payments with a bank of our own, we are able to help our customers make the transition from their previous stand-alone solutions to an integrated model," explains Christa Wagner, head of key account management retail services at Wirecard AG. "The upstream reconciliation processes at Wirecard AG are automatically linked with the ScoreControl data, ensuring swift and effective coordination with receivables management."

Wirecard AG and ScoreControl GmbH are exhibitors at Mail-Order-World in Wiesbaden on October 24-25, 2007 in Hall 2, Stand 203.

 Press Release

Wirecard PR&IR Office
Iris Stöckl
Bretonischer Ring 4
D-85630 Grasbrunn
Tel. : +49 (0) 89 4424 0424
Fax: +49 (0) 89 4424 0524
E-Mail: iris.stoeckl@wirecard.com

myby media contact:
myby GmbH & Co. KG
Dr. Jana Lorbeer
Head of Corporate Communications
Grafenberger Allee 297
40237 Düsseldorf

MS&L International Public Relations GmbH
Tobias Heyne
Tel: +49 (0) 69 6612456-8333
Fax: +49 (0) 69 66124568398
E-Mail: tobias.heyne@mslpr.de


About myby GmbH & Co. KG:
myby GmbH & Co. KG is the new Internet consumer electronics store in Germany. With an attractive range of high-quality electronics, it attaches particular importance to favorable prices, competence advice and quick and reliable services. Launched in October 2007 as a joint venture between Arcandor AG and Axel Springer AG, it is based in Düsseldorf.
www.myby.de

About ScoreControl Group:
ScoreControl is synonymous with innovative, integrated professional receivables management. In practice, this means that all receivables management activities are placed in a single hand with a single strategy either online or on an outsourced basis. With its core receivables management and collection services, ScoreControl is active in Germany, Switzerland and Austria via independent companies growing dynamically and swiftly.
www.scorecontrol.com

About Wirecard AG:
Wirecard AG is one of the leading international providers of electronic payment systems and risk management solutions. It helps over 7,000 companies in different sectors to automate their payment processes and minimize the risk of payment default. Wirecard Bank AG offers account and credit card services for businesses and consumers and is also a principal member of VISA, MasterCard and JCB. The Wirecard Internet payment service allows consumers to pay securely at millions of vendors accepting MasterCard. In addition, registered users are able to transfer or receive money amongst each other on a real-time basis. Wirecard AG is listed on the Frankfurt Stock Exchange (TecDAX, ISIN DE0007472060, WDI).

www.wirecard.com | www.wirecardbank.com | www.mywirecard.com