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Payoneer cards frozen due to Wirecard problems

June 27, 2020

Wirecard is a fintech company that issues many of the cryptocurrency debit cards available on the market and appears to have filed for bankruptcy. This also affected Payoneer, to alert your customers to freezing prepaid card activity.

In a statement issued by Payonner, they gave customers with prepaid cards the following:

“As you may have seen in the news, Wirecard AG filed for bankruptcy on Thursday. Your Payoneer Prepaid Mastercard® card is issued by its UK subsidiary Wirecard Card Solutions Limited (WCSL). Today, the Financial Conduct Authority (FCA) , which regulates WCSL, imposes requirements on WCSL and freezes all prepaid card activities for the time being. We believe that cardholder funds are adequately protected and that freezing will only be temporary. ”

In addition, they clarified that the FCA, in turn, has communicated that they have taken these measures with the primary aim of protecting the interests and money of Wirecard customers.

Payoneer cards frozen due to Wirecard problemsPayoneer cards frozen due to Wirecard problems

Payoneer also made it clear that until further FCA action is taken, customers may temporarily not withdraw money from the card or receive new payments on it.

“”Any fund that exceeds the maximum balance on your card will be retained by Payoneer and therefore will not be affected by the FCA’s temporary freeze, “they added.

Alternative to collect

This was also reported by Payoneer Future payments from markets, platforms and customers are not affected by the freeze.. And the Customers can log in to view their money and add their bank account to withdraw their future incoming payments.

“We are actively working to offer you additional options, and your patience and understanding will be greatly appreciated. We apologize for any inconvenience and will update you with more information as soon as we have it, “they concluded.

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