Wirecard bankruptcy causes panic? P Card official response: No impact, sellers' account funds are safe!

Wirecard, a German payment service provider known as the "European Alipay", was exposed for a financial scandal by its auditor. Just one week later, Wirecard filed for bankruptcy with the court. At this time, the company's stock price had fallen by nearly 97% compared with a week ago.

Subsequently, the news of Wirecard’s bankruptcy flooded the sellers’ circle of friends, causing panic among them.

Wirecard is the European partner of Payoneer (hereinafter referred to as P-card). Will the bankruptcy of Wirecard lead to P-card being implicated? Will the balance of sellers in P-card accounts be unprotected? Will cash withdrawals be affected? These questions have become a concern for many sellers.

Some sellers even received a notification that all prepaid card activities on Payoneer Mastercard prepaid cards would be temporarily frozen.

The sellers' various concerns pushed P Card to the forefront of public opinion, and then it intensified. There were even rumors that P Card would also go bankrupt like Wirecard...

▲ The picture comes from the seller communication group

The sellers all asked or reminded each other: Have all the P card payments been made today?

Some sellers even said: Although it is working normally now, I am still a little worried. Can I continue to use it?

▲ The picture comes from the seller communication group

▲ The picture comes from the seller communication group

Some rational sellers also asked: Will Wirecard's bankruptcy affect P Card's payment collection? Has P Card officially responded?

▲ The picture comes from the seller communication group

In this regard, Payoneer also made a statement immediately. At the beginning of the statement, Payoneer directly stated: Wirecard's bankruptcy application will not affect Payoneer's financial stability and security and product function services.

At the same time, in response to the sellers’ concerns, P Card made the following statement:

1. The Euro payment account is stable and secure and operates as usual. Payoneer's euro payment account service was launched in cooperation with Wirecard Bank AG, an independent subsidiary of the Wirecard Group, and Wirecard Bank has been explicitly excluded from Wirecard AG's bankruptcy application process.

2. Prepaid card business and Euro collection account business are two independent businesses. Payoneer users' Euro collection accounts on Amazon and other platforms are operating normally. In addition, as some accounts of Wirecard Prepaid Card Solutions are currently under investigation by the FCA, all prepaid cards, including those in cooperation with Payoneer, are temporarily frozen and will be unfrozen after a short-term investigation by the FCA.

3. To eliminate users' concerns and doubts about the cooperation with Wirecard Bank, Payoneer will provide customers with the option to choose whether to migrate the Euro payment account in cooperation with Wirecard Bank to the payment account of other international banking groups. Payoneer has reached an agreement with major global e-commerce platforms to open a whitelist to ensure stable account migration and unaffected user fund flow.

In general, the statement indicated that Wirecard's bankruptcy had no impact on the security of P-card accounts and funds. This undoubtedly gave many sellers peace of mind.

However, some sellers on the European site still reported that their withdrawals failed and that they could not withdraw cash from prepaid cards. In addition, some sellers said that they could not withdraw cash in US dollars.

▲ The picture comes from the seller communication group

In short, although WireCard has gone bankrupt, it has no impact on the funds in the P card account, and sellers can still use it with confidence.

Finally, let’s do a small survey. There are multiple payment tools on the homepage for everyone to choose and compare. Which one are you using?

Text ✎ Xiyue/

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