WaveCrest Has Shut Down The MasterCard Card Program: New Cards Are No Longer Issued

Big news coming from one of the largest payment platforms has madeAdd New many AdvancedCash MasterCard crypto card holders that worried at the moment. The apparent closure of every single debit and credit card accepted by WaveCrest comes as shocking news to many.

 

In case you are hearing about it for the first time, WaveCrest is a trusted and licensed global and digital payment partner that brings all the complex global payments to life, as their website says.

 

In an email yesterday, users got the announcement with a subject ‘Closure of the WaveCrest Card Program’ which affected every single user on the network.

 

The email reads the following:

“Unfortunately we have to let you know that Wave Crest, our current card solution provider, is unilaterally shutting down our card program. New virtual and plastic cards are no longer issued to any users whether or not they are EEA/SEPA area residents.

 

Please make sure you have read and understood the info below:

• plastic and virtual card loads have been disabled
• all existing plastic and virtual cards will be closed on February 27, 2018
• currently ATM withdrawals are allowed with a daily limit of EUR 1000 / USD 1000 in SEPA countries and EUR 500 / USD 500 outside the SEPA zone
• there are no new limits concerning POS transactions in shops

 

All plastic and virtual cards will be reissued for free after we implement the card platform from our new provider which is about to happen soon.

We appreciate your understanding and cooperation and we apologise for any inconvenience caused.”

The news comes after the new guidelines that affected the network in October 2017 where MAsterCard followed VISA’s example as far as the prepaid debit card ban was concerned. Even though the debit cards were afterwards allowed, the email above shows that WaveCrest is shutting down all cards (both credit and debit) that are linked to cryptocurrency transactions.

 

Original Official Email by WaveCrest 

Certainly the new stance will affect a lot of companies involved in the cryptocurrency debit card industry.