Payment cards without a Transcash bank account are temporarily frozen, in the wake of the scandal of the German company Wirecard, said Friday the French company MFTEL, which markets them in France.
Wirecard suspected of inflating accounts with fictitious funds in the Philippines
Wirecard Card Solutions, a British subsidiary of the German supplier of payment solutions Wirecard, is the issuer of the prepaid cards offered by MFTEL. The latter said she was informed on Friday of an ongoing audit of the accounts of Wirecard Card Solutions by British regulators, in the wake of the Wirecard scandal, which is suspected of having inflated its accounts with fictitious funds in the Philippines.
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"All the cards issued by Wirecard Card Solutions have been frozen, including the Transcash cards," said Rémi Domenge, one of MFTEL's marketing managers. Hundreds of thousands of customers have Transcash cards, the company said, although not all of them are active. On its website, Wirecard Card Solutions indicates that it has temporarily suspended its activities, at the request of the Financial Conduct Authority, until further notice.
Return to normal by early next week
MFTEL wants to be reassuring, however, and says it anticipates a return to normal by the beginning of next week. "We are feeling the impact of the investigations being carried out on Wirecard and, in turn, on Wirecard Card Solutions", explains Rémi Domenge. But "user money is safe," he insists. MFTEL, based in Allauch, near Marseille, designs and operates prepaid bank card programs, with 37 employees. In 2009, it launched its first payment card without a bank account.