New York (CNN Business) Mastercard and Visa are reconsidering whether to allow Wirecard to continue processing payments on their networks, following the fintech company's massive accounting scandal, according to a report from Bloomberg Thursday. Mastercard MA Visa V andhave informed some Wirecard clients that the firm's access to their payment networks could be revoked, Bloomberg reported, citing people familiar with the matter. "We continue to closely monitor developments and assess new information as it becomes available," a Visa spokesperson said in an emailed statement. "Our priority is, and will always be, maintaining the integrity of the Visa payments system and protecting the interests of consumers, merchants and our clients." We will continue to work with all parties and stand ready to take any necessary action," Mastercard said.

Source: CNN June 25, 2020 23:03 UTC