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BBC: Cardholders' money locked as FCA freezes UK subsidiary

tarikrouss Member Posts: 2
Having problems with Payoneer?

There is HUGE fraud going on in Fintech industry. German Giant WireCard, who submits those pre-paid cards you are using from Payoneer, Anna, Curve, Dozens, Tymit, Soldo and more, filed insolvency.

The reason is a tiny detail, €1.9bn, is missing, and they cant find it.
What will happen next?
All companies used to work with WireCard pretty fucked, they need to find a new pre-paid card provider, integrate with them, and replace all cards. Sound is not easy to me but i am sure they will sort it out.

Payoneer was trying to calm their users down with saying WireCard UK is different entity than German company so all fine, BUT today FCA decided suspend WireCard UKs licence. Thar screwed up all UK Fintechs.