Worldline Drops in Fresh Warning for Europe’s Fintech Sector (2)

Worldline SA sent a fresh shockwave through Europe’s fintech sector on Wednesday, cutting its sales outlook and warning of economic challenges that pushed its stock down by more than half.

The French-based payment processor, which services more than 1 million merchants globally, cited weakness in the German market and increasing fraud and cybercrime risks that prompted it to cut ties with some clients. The stock plunge wiped €3.8 billion ($4 billion) off the market value, lowering it to about €2.7 billion.

Investors were still digesting other bad news from the industry when Worldline issued its dramatic warning. Just a day ...