Wirecard halts payment services in Singapore, leaving businesses in the lurch

0

Wirecard’s main business activities here involve processing Visa and Mastercard payments for merchants and helping companies issue pre-paid cards.

SINGAPORE – Troubled financial services provider Wirecard has pulled the plug on its services on Thursday (Oct 1), leaving local businesses scrambling to switch payment providers.

The Monetary Authority of Singapore (MAS) had earlier directed the German payments firm to stop its payment services and return all customers’ funds by Oct 14.

Please subscribe or log in to continue reading the full article. Learn more about ST PREMIUM.

Enjoy unlimited access to ST’s best work

Exclusive stories and features on multiple devicesIn-depth analyses and opinion piecesePaper and award-winning multimedia content

Subscribe Now
Source

Leave A Reply

Your email address will not be published.