Portlaoise shoppers and retailers warned about use of gift cards linked to feezing of 50,000 An Post currency cards

Wirecard Card Solutions Limited Licence Suspended

Conor Ganly

Reporter:

Conor Ganly

me2you

The prepaid Portlaoise Gift Card

Retailers in Portlaoise have been advised that Laois shoppers cannot use the Portlaoise Gift Card or the Me2You gift cards.

The issue is related to the freezing of 50,000 An Post currency cards due to problems with the suspension of a licence of a company called Wirecard Solutions Ltd.

The Downtown Portlaoise retail group issued an urgent message to its members about a temporary transaction disruption on Saturday morning, June 27.

The advice outlined to shops how to deal with customers presenting these cards in the coming days.

"For anyone who accepts the Portlaoise Gift Card or any form of Me2You gift cards, the company who operate this have advised that the service is temporarily suspended," said the message.

The key points in the advice are:

  • The customers' funds on the cards are safe, however, they are temporarily not accessible.
  • FromMe2You Gift Cards operate the - Portlaoise Gift Card scheme similar to say a One4All Gift Card, so neither Downtown Portlaoise nor any other local groups or businesses have access to funds on the gift cards.
  • In the meantime, the gift cards cannot be accepted by local businesses and will not go through if someone tries to process them on a credit card terminal.

Downtown Portlaoise explained that the issue relates to a licencing issue with a UK company that processes each transaction but it will hopefully be resolved soon.

An Post also issued a statement about how it has been impacted by Wirecard Card Solutions Limited  as it is the issuer of the An Post Money Currency card. 

It said the UK financial regulator, the Financial Conduct Authority (“FCA”) has required Wirecard Card Solutions Ltd to cease all regulated activities. As a result, An Post said, all existing An Post Money Currency cards issued by Wirecard Card Solutions Limited have been suspended until further notice.

The postal company said this means that they cannot currently be used by customers in Ireland or abroad. 

"An Post greatly regrets this inconvenience to our customers and we are working to ascertain what impact this situation will have on customers who hold an An Post Money Currency Card.  We will issue a further statement when more information becomes available," it said.

The company said the issue only affects An Post Money Currency cards and no other An Post financial services are affected.

An Post said its Money Currency Card is an An Post-branded prepaid Mastercard issued by Wirecard Card Solutions Ltd that allows customers to purchase and top up 16 currencies on a single card.

This is the communication to shoppers from Me2You

Dear FromMe2You Customers,

Your FromMe2You gift card and all associated FromMe2You transaction services will be temporarily suspended with immediate effect, due to reasons beyond our control. Please be assured, your money and card details held at FromMe2You are safe and secure.

Why has this happened?

This action is not related to FromMe2You. This has happened because the Financial Conduct Authority (FCA), the UK financial regulator, has this morning suspended its permission for Wirecard Card Solutions Limited (the company who currently issues FromMe2You gift cards) to operate, without prior notice.FromMe2You currently depends on Wirecard Card Solutions licence for the operation of the FromMe2You cards and therefore transactions services on FromMe2You cards have been temporarily suspended. The Financial Conduct Authority has taken the protective action to temporarily suspend the operations of Wirecard Card Solutions Limited to allow Wirecard Card Solution Limited verify some important operational processes for the FCA.  This action is not related to FromMe2You and it does not affect the security of your money.

What does it mean to me?

FromMe2You uses Wirecard Card Solutions to process payments. The FCA action means the money on FromMe2You customers’ card accounts will be temporarily frozen. Your money remains safe, however, the FCA action over Wirecard means that you will not be able to access it until the issue is resolved.

Is my money protected?

Yes, your money is safe, it is ring-fenced in a safe-guarded account, but regrettably, you cannot use it for now. You will be able to make a transaction once the FCA has reinstated Wirecard Card Solutions licence to process transactions.

When will this be resolved?

FromMe2You was made aware of the FCA action this morning (26th June 2020). We had no prior warning that Wirecard Card Solutions Limited would be temporarily suspended by the FCA. As soon as we find out more, we will update our website.

FromMe2You is here to support all our customers. Should you have any questions please visit our website for the latest information.

FromMe2You looks forward to be fully operational shortly and we apologise for any inconvenience caused to our customers.

This is the communication received by retailers: 

26/06/2020 - Wirecard Card Solutions Limited Licence Suspended


Dear FromMe2You Retailers,

FromMe2You gift card and all associated FromMe2You transaction services will be temporarily suspended with immediate effect, due to reasons beyond our control. Please be assured, your money and card details held at FromMe2You are safe and secure.

Why has this happened?

This action is not related to FromMe2You. This has happened because the Financial Conduct Authority (FCA), the UK financial regulator, has this morning suspended its permission for Wirecard Card Solutions Limited (the company who currently issues FromMe2You gift cards) to operate, without prior notice. FromMe2You currently depends on Wirecard Card Solutions licence for the operation of the FromMe2You cards and therefore transactions services on FromMe2You cards have been temporarily suspended. The Financial Conduct Authority has taken this protective action to temporarily suspend the operations of Wirecard Card Solutions Limited to allow Wirecard Card Solutions Limited to verify some important operational processes for the FCA. This action is not related to FromMe2You and it does not affect the security of the money on FromMe2You gift cards.

What does it mean to me?

FromMe2You uses Wirecard Card Solutions to process payments. The FCA action means the money on FromMe2You customers’ card accounts will be temporarily frozen. The money on the card remains safe, however, the FCA action over Wirecard means that you will not be able to access it until the issue is resolved.
 

Is my money protected?

Yes, the money is safe, it is ring-fenced in a safe-guarded account, but regrettably, the card cannot use it for now. You will be able to process a transaction once the FCA has reinstated Wirecard Card Solutions licence to process transactions.

When will this be resolved?

FromMe2You was made aware of the FCA action this morning (26 th June 2020). We had no prior warning that Wirecard Card Solutions Limited would be temporarily suspended by the FCA. As soon as we find out more, we will update our website.

FromMe2You is here to support all our customers and retailers. Should you have any questions please visit our website for the latest information.

FromMe2You looks forward to be fully operational shortly and we apologise for any inconvenience caused to our customers and retailers.

The company is based at Unit 10, Leopardstown Office Park, Sandyford, Dublin 18