Prepaid cards

German Finance Minister Olaf Scholz was aware of potential market manipulation at Wirecard AG almost a year and a half before the company collapsed, putting pressure on a key figure in Angela Merkel’s government.

Wirecard North America is seeking a buyer, an otherwise routine corporate move that requires a large number of assurances, given its parent company's descent into scandal.

Visa Inc. and Mastercard Inc. are considering revoking Wirecard AG’s ability to process payments on their networks in a move that would cause further pain for the firm after it started insolvency proceedings.

Wirecard AG filed for insolvency, the culmination of a stunning accounting scandal that led to the arrest of its CEO and left the German payment-processing firm unable to find over $2 billion missing from its balance sheet.

Wirecard AG won a short reprieve from the lenders on its $2 billion revolving credit facility after banks decided to assess the embattled company’s long-term viability before telling it to repay the loan.

The spending and account management capabilities of corporate prepaid cards have been given new purpose in a pandemic-struck world dependent on government and charity aid.

Nearly 4 million households that were to be mailed paper checks will instead receive their pandemic relief aid via prepaid debit cards issued by MetaBank.

As the coronavirus crisis fuels even stronger demands for early earned wage access, Ceridian seeks to rise above the competition with its own on-demand digital wallet and prepaid Mastercard.

The prepaid card issuer will rely less on promotional marketing and more on its banking charter to drive profits, Henry said in his first public remarks since taking over as CEO in March.

As millions of U.S. consumers are beginning to see stimulus checks electronically deposited into their bank accounts as part of the CARES Act, many companies are wondering how Americans will spend these funds.