Today, we’re writing to you with sad news.
Wirecard Card Solutions Limited (WDCS) has temporarily suspended its electronic money issuing, card issuing and acquiring business with immediate effect and until further notice. The suspension has been put in place following the imposition of requirements on WDCS by the Financial Conduct Authority (FCA). WDCS is working hard to have the steps in place which will enable the suspension to be lifted, so business can resume as usual.
We at Cryptopay Ltd (CP) are monitoring the situation closely and wish our partners at WDCS all the best and hope to see our cards up and running again soon. In case the situation continues to develop negatively (which we hope won’t be the case), there is a fallback plan designed and implemented at CP to bring the beloved cards back to our customers as soon as possible.
To make this situation as painless as possible for our customers, we have acted ahead of the curve and unloaded the funds stored on their cards back to their accounts earlier today. We did it so as to make sure these funds are not locked, and our customers can continue using them.
CP continues working on other products — to ensure our continued development and company growth.
We are still very much here for you and even in these trying times believe that what doesn’t kill you, only makes you stronger. We will keep you up to date on the situation.
UPDATE: 30 JUNE. Cryptopay Ltd and Wirecard Card Solutions Limited (WDCS) are pleased to report that following intensive work undertaken by WDCS in conjunction with the Financial Conduct Authority (FCA), it has now received consent to resume its operations as the FCA is satisfied that client money is safe. The C.Pay cards are now back in the game!