Technology Elevation
Payoneer Panic – Funds on your Payoneer Card are Safe and Secure
Funds held on your Payoneer card are secure because they are designated as your funds and are held in safeguarded accounts at regulated credit institutions in the UK and EEA.
The CEO of Wirecard has resigned as a result of 1.9 billion Euros missing from the company’s accounts.
According to the Philippines’ central bank, none of the money appears to have entered the country’s financial system.
The scandal initially emerged when articles in Financial Times sturred and grabbed everyone’s attention on alleged accounting irregularities in Wirecard’s Asian operations. The missing money was supposed to be in two separate accounts at Asian banks and had been set aside for “risk management”.
Since Wirecard AG has now officially filed for insolvency, one wonders what does this mean for the Wirecard-issued Payoneer Prepaid Mastercard® Card?
Payoneer focuses on transparency, the company says the funds are kept securely in safeguarded accounts through a blog post, and account holders have no reason to panic and there is no cause for concern.
Payoneer works with many banks, and financial service providers all around the world in developed and emerging markets. Digital technology at the organization empowers people to do business online internationally. Wirecard AG has been partnered with one of the Payoneer providers.
Funds deposited on your Mastercard ® Payoneer Prepaid Card are safe and protected-Payoneer Blog
The security and security of account holders is the top priority for Payoneer, rest assured that every single penny of any account holder is safe and will soon reflect the balance on their statement. You can contact the Customer Care team at Payoneer.
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