I was hoping Wirecard would be able to survive this, like they survived a lot of scandals in the past. But this time time I doubt they'll survive. Sucks I have a lot of merchant accounts and bank accounts with them. Maybe some other banks will buy their processing business, but even then, they might get rid of the high risk part. Let's see.

That was it?
 

Maybe this is the end:

https://www.reuters.com/article/us-w...k%20Ex change.

Well, when you discover how you are 2 bil short, kind a hard to recover from that.

Bloomberg) -- Wirecard AG filed for insolvency, following the arrest of its CEO amid a massive accounting scandal that left the German payment-processing firm scrambling to find over $2 billion dollars missing from its balance sheet

Lowest o the stck market 2 euro, now 4 euro (last week 104 euro!)

Damn it :(

Probably the end...
What are the alternatives?

And wirecard was fully compliant with visa and mastercard... as well the books and balance were checked by Ernst & Young.

The Paxum cards are now officially suspended.

Please be advised that the Paxum SEPA Mastercard backed by Wirecard Card Solutions Limited has been temporarily suspended, effective immediately. All existing Paxum SEPA card funds remain safe and secure, however already loaded card funds cannot be accessed at this time. We sincerely apologize for the lack of notice.

Earlier today the Financial Conduct Authority (FCA) issued a declaration for the immediate suspension of Wirecard Card Solutions Limited regulated activity. Unfortunately this means that the funds on your Paxum SEPA card have been frozen and are temporarily unavailable for you to access and withdraw. You can read more about this here - [https://www.fca.org.uk/news/news-sto...-authorisation[

While Paxum has no way to release the already loaded card funds, we continue to offer alternative withdrawal methods to all clients for future funds/earnings. From WIRE withdrawal to External Card Withdrawal and ACH/EFT in some regions, there is a variety of options plus the Paxum Unionpay card remains available.

It is important to note that this action by the FCA only affects the Paxum SEPA Mastercard. The Paxum Unionpay card has a completely different card issuer and is fully available to use.

Here's a quick breakdown of some questions we anticipate you will be asking.

What caused this?

The Financial Conduct Authority (FCA) suspended operation of Wirecard Card Solutions; our card-issuing partner for the Paxum SEPA Mastercard.

Is Paxum in trouble?

No, Paxum has not done anything wrong and is only affected because Paxum SEPA Mastercards are provided and issued by Wirecard Card Solutions Limited. Paxums' business remains fully intact and completely operational.

Does this affect the Paxum Unionpay Card as well?

No, the Paxum Unionpay card is not affected by this situation, it remains fully operational and can be used as normal worldwide.

What does this mean for my money?

Any new funds sent to your Paxum account can be accessed through the various options described earlier in this email; Wire, External card withdrawal, EFT, Paxum Unionpay, etc. All funds already loaded to the Paxum SEPA Mastercard remain safe and secure, unfortunately they cannot be accessed at this time.

When will my money be released?

The FCA suspension occurred earlier today (Friday, June 26th 2020) and we have no further information at this time. You will eventually be able to access your Paxum SEPA Mastercard funds, but the FCA must first release the funds, which can take time.

As soon as we are informed of any further actions we will immediately update you.

Sincerely,

The Paxum Team

Are my funds protected by FSCS?
No. The Financial Services Compensation Scheme (FSCS) only applies to certain types of activity which does not include issuing electronic money or payment services.

Under the EMRs and PSRs, there are rules on how customers’ money should be protected and these requirements are known as ‘safeguarding’.

Is there a chance I won’t get my money back? What is safeguarding?
Safeguarding is a key consumer protection measure within the EMRs and the PSRs. The purpose of safeguarding is to protect and return customer money if a firm was to fail.

Wirecard is required under the EMRs to maintain appropriate measures to safeguard customers money. It does this by holding it separate from its own money in accounts with banks (or another credit institution). Effective safeguarding arrangements are critical to help ensure that customers’ money is protected and returned if a firm fails. Adequate safeguarding arrangements which are compliant with the regulatory requirements are a condition of Wirecard’s ongoing FCA authorisation.

https://www.fca.org.uk/news/news-sto...-authorisation

FIDDY! Hoping you have not lost money... :(

The same story again after all accounts of ePayments were frozen by FCA on February.

Too late for me
 

"Please be advised that the Paxum SEPA Mastercard backed by Wirecard Card Solutions Limited has been temporarily suspended, effective immediately. All existing Paxum SEPA card funds remain safe and secure, however, already loaded card funds cannot be accessed at this time. We sincerely apologize for the lack of notice.

Earlier today the Financial Conduct Authority (FCA) issued a declaration for the immediate suspension of Wirecard Card Solutions Limited regulated activity. Unfortunately, this means that the funds on your Paxum SEPA card have been frozen and are temporarily unavailable for you to access and withdraw. You can read more about this here - https://www.fca.org(dot)uk/news/news...-authorisation

While Paxum has no way to release the already loaded card funds, we continue to offer alternative withdrawal methods to all clients for future funds/earnings. From WIRE withdrawal to External Card Withdrawal and ACH/EFT in some regions, there is a variety of options plus the Paxum Unionpay card remains available.

It is important to note that this action by the FCA only affects the Paxum SEPA Mastercard. The Paxum Unionpay card has a completely different card issuer and is fully available to use.

Here's a quick breakdown of some questions we anticipate you will be asking.

What caused this?
The Financial Conduct Authority (FCA) suspended operation of Wirecard Card Solutions; our card-issuing partner for the Paxum SEPA Mastercard.

Is Paxum in trouble?
No, Paxum has not done anything wrong and is only affected because Paxum SEPA Mastercards are provided and issued by Wirecard Card Solutions Limited. Paxums' business remains fully intact and completely operational.

Does this affect the Paxum Unionpay Card as well?
No, the Paxum Unionpay card is not affected by this situation, it remains fully operational and can be used as normal worldwide.

What does this mean for my money?
Any new funds sent to your Paxum account can be accessed through the various options described earlier in this email; Wire, External card withdrawal, EFT, Paxum Unionpay, etc. All funds already loaded to the Paxum SEPA Mastercard remain safe and secure, unfortunately they cannot be accessed at this time.

When will my money be released?
The FCA suspension occurred earlier today (Friday, June 26th 2020) and we have no further information at this time. You will eventually be able to access your Paxum SEPA Mastercard funds, but the FCA must first release the funds, which can take time.

As soon as we are informed of any further actions we will immediately update you.

Sincerely,

The Paxum Team."

So.How much?
I lost almost 2k $ only.

2000 euro, i can live 2 months from that. Hope you get it back.

I don´t have the wirecard. I was following stockmarket forums cause i was looking for fintech stocks and people advised not to buy this one and wait for the accountancy report.

I hope some people emptied their wirecard on time. What i understand now they must look if they had put the money for debetcard holders on accounts at other banks. The stock went to 1,18 euro.

With Epassporte Visa/master card held the funds and paid most people back. In this case with the big fraud, people must wait till they find it, if it is there. That is what i understood.

Amazing that you prewarned everybody weeks ago and it happened. I never come here anymore and the only reason I stopped by now is because I was going to check if there was an issue with Wirecard or Paxum since I was unable to withdraw funds on WC. Im in Berlin and I didn't lose that much but it still sucks. Yes this reminds me of Epassporte all over again, I was there for that fiasco and remember I said to myself never keep my $$ in these E-wallet type companies but WC is not some little company so pretty surprising, it went down this fast. Too bad I didn't come to GFY earlier to see this thread.

Geepers what a headache this is.

As said, there was enough warning to warrant emptying anything you had with wirecard in normal circumstances where you don't have 100k on an account you shouldn't have 100k on anyway.
Payoneer is also in shitter, their cards were wirecard.

Not only Payoneer but also Curve, Anna Money, Pockit and some travel money (British Airlines?) and some bitcoin wallets were also using them. So there are thousands of people affected by this.

Crypto.com has already refunded the money on the card to the crypto wallets
https://twitter.com/cryptocom/status...07056418570243


In the case of paxum. Who's got the money: paxum, wirecard or mastercard?

They are perfect, I was saved once I've got an account with them. Flawless experience on ALL levels, no problems, fast support, multiple options. It is incredible they are not more popular here. Card working properly. The only thing Irittating is that I can't change how many times I can use wireless payment before I need to enter PIN .

Looks like the payoneer users have blocked everything up to $10,000 because payoneer is keeping all money below $10k on card.

I am still waiting for my money there, they said 6 months?

I'm not a Payoneer member, but i read this everywhere:

When you login to payoneer, they make you accept the new terms of service, and of course they added :

**The PrePaid MasterCard is an electronic money product and although it is a product regulated by the Financial Conduct Authority, it is not covered by the Financial Services Compensation Scheme.
No other compensation scheme exists to cover the losses claimed in connection with the PrePaid MasterCard. This means that in the event that Wirecard Card Solutions Ltb becomes insolvent Your funds may become valueless and unusable and as a result You may lose Your money.**

Smart move, Payoneer

:error:upsidedow

it was hard not to notice it in the news :pimp

Time for Funny Images :clown :clown

https://www.worldpornlist.com/wp-con...20/06/zhit.jpg

who keeps half a milion on a prepaid card?

Deer Lord . . .

max. balance is $50k.

f.ck that. I knew wirecard was a fraud since around 1 or 2 years ago, as i follow a lot of stock forums/chats, etc.
Little I knew, that paxum card is issued by wirecard.

18 June.. I wish I saw this earlier :error

Everything can disappear over the night. Funny game

Since the ePassporte fiasco, every time I get a new card, I check the bin number of that card, to get info about the issuer/processor.

On a side note, I just created a new ePayService account, and in the signup process, you have to describe how you plan to use the account and where will you get the money, with links. I don't want to put links to the chaturbate affiliate program in my application form. What other options do I have?

do they allow "adult" transactions? are there any adult affiliate programs paying by ePayService?

Yes, Chaturbate is offering ePayService as a payment option

I am waiting for my epayservices verfication for 2 weeks now

I seem to remember when I signed up I included a link to Pussycash (one of my main sponsors) with a few other affiliate programs and I got approved no problems.

The Paxum card is working again.

You was able to withdraw money via ATM?

Yes, and also able to make online and POS payments.

If it works again, empty your wirecard :)