Freelancers in Pakistan and around the world are unable to access their money from their prepaid Payoneer card, after a recent 1.9 billion euros Wirecard scandal in the UK. Wirecard is a subsidiary of the German company Wirecard AG that filed for insolvency on Thursday. All Payoneer Prepaid Mastercard cards are affected considering they are issued by Wirecard UK.
Payoneer is a global payments company that enables millions of businesses and professionals from more than 200 countries to make seamless cross-border payments.
Payoneer made it clear that any future payments that the customer will receive from marketplaces, platforms, and clients will not be affected. They also mentioned that the freeze is temporary and will be resolved soon.
There is no reliable data on the number of Payoneer card users in Pakistan. Industry experts however estimate that there are between 50,000 to 100,000 total Payoneer users in the country. Freelancers in Pakistan have long been decrying the absence of secured payment options for international transactions. There had been a forceful demand from freelancers to bring payment platforms like PayPal to Pakistan.