According to insiders, the credit card providers Visa and Mastercard are considering terminating their business relationships with the payment service provider Wirecard. The payment service provider involved in the billion dollar scandal is obviously a high risk for both card companies.
Corporations are considering depriving Wirecard of the ability to route payments through their networks, the Bloomberg news agency reported Saturday morning, citing people familiar with the matter. Some Wirecard customers have already been contacted to prepare them for this option.
Update in the last paragraph!
Meanwhile, more and more consumers in German-speaking countries are becoming aware of the Wirecard problems. The constant presence in the daily media and the sheer unimaginable size of the fraud has hit the general public. Customers often ask themselves whether payment can still be carried out “stably” with daily shopping if Wirecard is involved or if Wirecard technology is used in the background.
The payment service provider had expanded the number of new contractual partners and the list of reference customers significantly in the past two and a half years. These came from the retail, airline, travel company, transportation, insurance and financial services sectors. The number of those who will do without Wirecard in the future and use other payment service providers should increase every day.
As ALDI SÜD announced today due to the demand of the SHAREHOLDER, there are business relationships with Wirecard Bank, not with Wirecard’s payment service. The group said: “Cooperation with the bank is limited to processing credit card payments and doing business with the ALDI Prepaid gift card . So far, there have been no changes for our customers in either area “.
Customers at ALDI SÜD could continue to pay with their credit cards and also redeem their ALDI gift cards; the credit on the cards was covered, the group said.
Update: The British financial regulator FCA prohibited the Wirecard subsidiary Wirecard Card Solutions from doing business on Friday. With this, the tax authority is reacting to the bankruptcy application of the Aschheim parent company and the fraud scandal in market and consumer matters.
The regulators indicated that the payment processor must not sell assets and must also place disclaimers that tell consumers that they are no longer permitted to conduct business.
Prepaid or credit cards issued by Wirecard Bank are still working
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