In my country (Pakistan), millions of freelancers depend on Payoneer Mastercard to withdraw their hard earned money.
Now, after the recent updates of Payoneer Wirecard Scandal, Is payoneer trustworthy anymore? Is Payoneer/Wirecard a fraud?
It seems like Payoneer users throughout the world are expected to lose access to their money that is available in their prepaid cards.
Recently, German fintech firm Wirecard AG has filed for insolvency. Wirecard AG’s UK-based subsidiary Wirecard Card Solutions Limited (WCSL) is the company that powers Payoneer Mastercard. The scandal is worth $1.9 billion dollars.
Here is the screenshot of email that I received from Payoneer regarding Wirecard insolvency scandal.