Today, the UK financial regulator, the Financial Conduct Authority, has suspended the activities of Wirecard’s UK subsidiary; this is having an impact on UK fintechs such as Curve, Revolut and Pockit that have relied on Wirecard’s services; Curve issued a statement saying that users will see some impact: “Following the shutdown of Wirecard Card Solutions Limited by the Financial Conduct Authority, Curve customers have today been informed that they are likely to see a temporary disruption to their service and are advised to carry an alternative payment method”; Curve had already started looking for alternatives and became a principle member of Mastercard in April so the outage will be for a limited period of time; Revolut is believed to have already migrated services away from Wirecard and Pockit has assured customers that all cardholder funds are safeguarded but the company has yet to make a statement. Forbes.
