Post by sinthiya007 on Nov 5, 2024 4:27:46 GMT
On June 26, Payoneer cardholders faced a common problem – the inability to withdraw, transfer or cash out funds from the payment system.
Along with this, another piece of news filled the networks: Wirecard went bankrupt.
Confused by the flow of news “garbage” and not having fully understood the situation, people combined these two reasons, deciding that their funds were not on the Payoneer balance, but on the accounts of the bankrupt Wirecard.
We consider it our duty to help our clients and other readers on page seo service understand the current situation.
What kind of company is Wirecard AG?
Wirecard is a global company founded in 1999 and operating on all continents of the world since 2017.
Wirecard's list of subsidiaries covers more than a dozen countries around the world.
On 25 June, the Board of Directors of Wirecard AG filed an application to open insolvency proceedings against Wirecard AG with the competent district court in Munich (Amtsgericht München).
Since the organization has subsidiaries, their solvency also came into question.
On 26.06, the FCA ( Financial Conduct Authority – UK financial regulator) decided to audit WCSL (Wirecard Card Solutions Ltd) in order to avoid an outflow of funds to Wirecard AG.
During the audit, the UK Financial Services Authority froze the activities of Wirecard Card Solutions Limited. The audit took place over the weekend, from Friday 26.06 to Monday 30.06, and payment services were already launched on 30.06.
Let's sum up the interim results - Wirecard AG has been declared bankrupt, with a deficit of 1.9 billion euros. Subsidiaries continue their previous activities.
How does this relate to Payoneer payment system?
Payoneer has worked with both companies, but note the format:
Wirecard AG – exclusively provided European bank account details for Payoneer.
WCSL is the issuer of the Payoneer Prepaid Mastercard.
Along with this, another piece of news filled the networks: Wirecard went bankrupt.
Confused by the flow of news “garbage” and not having fully understood the situation, people combined these two reasons, deciding that their funds were not on the Payoneer balance, but on the accounts of the bankrupt Wirecard.
We consider it our duty to help our clients and other readers on page seo service understand the current situation.
What kind of company is Wirecard AG?
Wirecard is a global company founded in 1999 and operating on all continents of the world since 2017.
Wirecard's list of subsidiaries covers more than a dozen countries around the world.
On 25 June, the Board of Directors of Wirecard AG filed an application to open insolvency proceedings against Wirecard AG with the competent district court in Munich (Amtsgericht München).
Since the organization has subsidiaries, their solvency also came into question.
On 26.06, the FCA ( Financial Conduct Authority – UK financial regulator) decided to audit WCSL (Wirecard Card Solutions Ltd) in order to avoid an outflow of funds to Wirecard AG.
During the audit, the UK Financial Services Authority froze the activities of Wirecard Card Solutions Limited. The audit took place over the weekend, from Friday 26.06 to Monday 30.06, and payment services were already launched on 30.06.
Let's sum up the interim results - Wirecard AG has been declared bankrupt, with a deficit of 1.9 billion euros. Subsidiaries continue their previous activities.
How does this relate to Payoneer payment system?
Payoneer has worked with both companies, but note the format:
Wirecard AG – exclusively provided European bank account details for Payoneer.
WCSL is the issuer of the Payoneer Prepaid Mastercard.