Wirecard Card Solutions Limited (‘Wirecard’) is authorised and supervised by the FCA to issue e-money and provide payment services including, issuing e-money onto prepaid cards. Wirecard is authorised under the Electronic Money Regulations 2011 (‘the EMRs’) and its activities are also subject to requirements under the Payment Services Regulations 2017 (‘the PSRs’).
On 28 August 2020, Wirecard[1] announced that it was intending to wind-down its FCA-regulated business. The business will continue to trade while alternative arrangements are being made with its card providers. Customers should contact their card provider with any queries. We are working closely with Wirecard throughout this process to ensure that its customers are treated fairly.
This action has followed ongoing events in Germany concerning Wirecard’s parent company, Wirecard AG, and previous action from the FCA. We remain focused on ensuring that any action by the firm is taken in the best interests of customers, without compromising on consumer protection.
What does "winding-down" mean?
This means that Wirecard is entering a process to eventually close its UK e-money and payment services business. Wirecard will continue to trade while alternative arrangements are being made with its card providers, so that existing customers and products are transferred to another provider as appropriate.
What should I do if I have e-money with Wirecard, an agent of Wirecard based in the UK or another EEA country, use Wirecard to make payments? Who do I contact?
In the first instance, customers should contact their card provider if they are concerned, have any questions or for any updates.
Be wary of potential scams
Be aware that fraudsters look for opportunities like these to target customers. If you have any concerns at all about a potential scam, contact us immediately.
You can report the firm or scam to us by contacting our Consumer Helpline on 0800 111 6768 or by using our reporting form[2].
You should also contact Action Fraud[3] online or by calling 0300 123 2040.
What happens next?
Customer cards should continue to work whilst customers and products are transferred to another provider as appropriate.