One of its products is Payoneer Prepaid Mastercard, which is issued by Wirecard AG’s UK-based subsidiary Wirecard Card Solutions Limited (WCSL). Subsequently, the UK regulator of WCSL, the Financial Conduct Authority (FCA), ordered WCSL to freeze all prepaid card activity for the time being. Payoneer prepaid cards are mostly used by freelancers in Pakistan to receive payments from offshore clients for the projects they deliver. People who use prepaid cards have temporarily lost access to cash as the cards have been blocked for an indefinite period of time. Industry experts however estimate that there are between 50,000 to 100,000 total Payoneer users in the country.

Source: Pakistan Today June 27, 2020 18:11 UTC