FCA lifts ban on Wirecard's UK payments business

Tuesday 30 June 2020 12:20 CET | News

The UK's Financial Conduct Authority has lifted restrictions on German payments company Wirecard, allowing it to resume payment activities.

The Financial Conduct Authority (FCA) imposed restrictions on the company's UK arm after its collapse last week. Thousands of people could not access their money or make payments through apps as a result.Customers should now, or very shortly, be able to use their cards as usual.

Wirecard previously issued a statement saying some customers may find themselves unable to make transactions immediately, but the company anticipated the delay would last no longer than 24 hours. Several British technology companies were forced to suspend services due to the FCA restrictions, leaving thousands of accounts blocked.

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Keywords: FCA, Financial Conduct Authority, Wirecard, Germany, United Kingdom, online payments, payments fraud, Europe
Categories: Payments & Commerce
Countries: United Kingdom
This article is part of category

Payments & Commerce