Wirecard’s UK Subsidiary Allowed to Resume Operations

Thousands of British consumers and small businesses can access their cash again with the Financial Conduct Authority telling Wirecard Card Solutions they can resume operations; the regulator said some restrictions will remain in place; “There may be a delay before all card programmes are fully operational, so some customers could find themselves unable to transact immediately but we anticipate this lasting no longer than 24 hours,” Wirecard Card Solutions said in a statement Tuesday according to CNBC. “We apologise for the inconvenience to our valued customers that the temporary suspension caused.”; the temporary disruption could end up having long lasting trust issues for many of the fintechs who partnered with the troubled startup; Wirecard’s various subsidiaries are determining if they too will need to file for insolvency, the U.S. unit said earlier this week it was seeking a buyer. CNBC.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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