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COSMO and PAXUM

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Watch out for cards issued by WireCard (like paxum)

Bloomberg) -- Wirecard AG filed for insolvency, following the arrest of its CEO amid a massive accounting scandal that left the German payment-processing firm scrambling to find over $2 billion dollars missing from its balance sheet


www.reuters.com

'The money's gone': Wirecard collapses owing $4 billion

Wirecard collapsed on Thursday owing creditors almost $4 billion after disclosing a gaping hole in its books that its auditor EY said was the result of a sophisticated global fraud.
www.reuters.com www.reuters.com
 
Just got email from paxum about it.

URGENT Paxum SEPA Card Update
​
Dear
Please be advised that the Paxum SEPA Mastercard backed by Wirecard Card Solutions Limited has been temporarily suspended, effective immediately. All existing Paxum SEPA card funds remain safe and secure, however, already loaded card funds cannot be accessed at this time. We sincerely apologize for the lack of notice.

Earlier today the Financial Conduct Authority (FCA) issued a declaration for the immediate suspension of Wirecard Card Solutions Limited regulated activity. Unfortunately, this means that the funds on your Paxum SEPA card have been frozen and are temporarily unavailable for you to access and withdraw. You can read more about this here - https://www.fca.org.uk/news/news-stories/requirements-imposed-wirecard-authorisation

While Paxum has no way to release the already loaded card funds, we continue to offer alternative withdrawal methods to all clients for future funds/earnings. From WIRE withdrawal to External Card Withdrawal and ACH/EFT in some regions, there is a variety of options plus the Paxum Unionpay card remains available.

It is important to note that this action by the FCA only affects the Paxum SEPA Mastercard. The Paxum Unionpay card has a completely different card issuer and is fully available to use.

Here's a quick breakdown of some questions we anticipate you will be asking.

What caused this?
The Financial Conduct Authority (FCA) suspended operation of Wirecard Card Solutions; our card-issuing partner for the Paxum SEPA Mastercard.

Is Paxum in trouble?
No, Paxum has not done anything wrong and is only affected because Paxum SEPA Mastercards are provided and issued by Wirecard Card Solutions Limited. Paxums' business remains fully intact and completely operational.

Does this affect the Paxum Unionpay Card as well?
No, the Paxum Unionpay card is not affected by this situation, it remains fully operational and can be used as normal worldwide.

What does this mean for my money?
Any new funds sent to your Paxum account can be accessed through the various options described earlier in this email; Wire, External card withdrawal, EFT, Paxum Unionpay, etc. All funds already loaded to the Paxum SEPA Mastercard remain safe and secure, unfortunately they cannot be accessed at this time.

When will my money be released?
The FCA suspension occurred earlier today (Friday, June 26th 2020) and we have no further information at this time. You will eventually be able to access your Paxum SEPA Mastercard funds, but the FCA must first release the funds, which can take time.

As soon as we are informed of any further actions we will immediately update you.

Sincerely,

The Paxum Team.
 
Sophiestique said:
Just got email from paxum about it.

URGENT Paxum SEPA Card Update​
​
Dear
Please be advised that the Paxum SEPA Mastercard backed by Wirecard Card Solutions Limited has been temporarily suspended, effective immediately. All existing Paxum SEPA card funds remain safe and secure, however, already loaded card funds cannot be accessed at this time. We sincerely apologize for the lack of notice.

Earlier today the Financial Conduct Authority (FCA) issued a declaration for the immediate suspension of Wirecard Card Solutions Limited regulated activity. Unfortunately, this means that the funds on your Paxum SEPA card have been frozen and are temporarily unavailable for you to access and withdraw. You can read more about this here - https://www.fca.org.uk/news/news-stories/requirements-imposed-wirecard-authorisation

While Paxum has no way to release the already loaded card funds, we continue to offer alternative withdrawal methods to all clients for future funds/earnings. From WIRE withdrawal to External Card Withdrawal and ACH/EFT in some regions, there is a variety of options plus the Paxum Unionpay card remains available.

It is important to note that this action by the FCA only affects the Paxum SEPA Mastercard. The Paxum Unionpay card has a completely different card issuer and is fully available to use.

Here's a quick breakdown of some questions we anticipate you will be asking.

What caused this?
The Financial Conduct Authority (FCA) suspended operation of Wirecard Card Solutions; our card-issuing partner for the Paxum SEPA Mastercard.

Is Paxum in trouble?
No, Paxum has not done anything wrong and is only affected because Paxum SEPA Mastercards are provided and issued by Wirecard Card Solutions Limited. Paxums' business remains fully intact and completely operational.

Does this affect the Paxum Unionpay Card as well?
No, the Paxum Unionpay card is not affected by this situation, it remains fully operational and can be used as normal worldwide.

What does this mean for my money?
Any new funds sent to your Paxum account can be accessed through the various options described earlier in this email; Wire, External card withdrawal, EFT, Paxum Unionpay, etc. All funds already loaded to the Paxum SEPA Mastercard remain safe and secure, unfortunately they cannot be accessed at this time.

When will my money be released?
The FCA suspension occurred earlier today (Friday, June 26th 2020) and we have no further information at this time. You will eventually be able to access your Paxum SEPA Mastercard funds, but the FCA must first release the funds, which can take time.

As soon as we are informed of any further actions we will immediately update you.

Sincerely,

The Paxum Team.
Click to expand...
hello.
I have a same problem i got same email.
What do you think Cosmopayment will be works?
 
Everyone with SEPA card has this problem. Cosmo should be fine, i havent use it in ages, sent them an email see if there's any fee to pay for not using it that long( @CosmoPayment maybe they also see this). You can also still use paxum and send funds to an external card( i used Revolut card and it works perfectly and almost instant), also its the Union pay card from paxum. Good thing this time there are multiple options to use.
 
Sophiestique said:
Everyone with SEPA card has this problem. Cosmo should be fine, i havent use it in ages, sent them an email see if there's any fee to pay for not using it that long( @CosmoPayment maybe they also see this). You can also still use paxum and send funds to an external card( i used Revolut card and it works perfectly and almost instant), also its the Union pay card from paxum. Good thing this time there are multiple options to use.
Click to expand...

what kind of card did you choose on Revolut ? and its standard or premium account ? Thanks
 
SherylBaby said:
what kind of card did you choose on Revolut ? and its standard or premium account ? Thanks
Click to expand...
I have the standard one. from what i've heard from other users as long as transactions are under 1000 pounds one should be all fine. above that they block card until u make proof of funds. i only used it for smaller amounts for now, under 100$. just simulated a transaction between paxum and revolut compared to withdraw from ATM with SEPA card, and due to better exchange rate from revolut it was like 5$ extra.
 
I didnt get the email about this, I found out when my card suddenly started getting refused. I was looking the external card transfer, it's like a $35 fee, is the fee lower to a revolut card? 🤔
 
KingMarti said:
I didnt get the email about this, I found out when my card suddenly started getting refused. I was looking the external card transfer, it's like a $35 fee, is the fee lower to a revolut card? 🤔
Click to expand...
Its 6%+2.95%, but exchange rate is way better than ATM's. ATM few days ago was 4.13, revolut today was 4.3.
 
  • Helpful!
Reactions: KingMarti
RUSPK said:
Hey do you still use cosmo? Can i buy things on amazon? I tried but some of them got payment revisions and they already charged me in my account
Click to expand...
You can use cosmo for online purchases, but you must activate the option in your account every time. On the first page of your cosmo profile, right under the box with all your card info is a little box that you have to tick and that will allow you to make online purchases for 36 hours.
 
I cant see the the little box= its only visble, if i had the psysical card i dont have one...? can you post a screen from the box, pls?
 
Sophiestique said:
I have the standard one. from what i've heard from other users as long as transactions are under 1000 pounds one should be all fine. above that they block card until u make proof of funds. i only used it for smaller amounts for now, under 100$. just simulated a transaction between paxum and revolut compared to withdraw from ATM with SEPA card, and due to better exchange rate from revolut it was like 5$ extra.
Click to expand...
I'm trying to withdraw 1600$ and got reject for 30 times, could it be that the amount is too high? even when the suport said its already been fixed , the funds still got rejected
 
Alright, it's back to normal. (for me at least)

SherylBaby said:
Nothing to worry i saw that again usually it happens in the day of payments probably a cause of too much people trying to log in
Click to expand...
Of course I'm worried. I don't trust these e-wallets at all but Paxum is my only option atm.
 
Sophiestique said:
did someone else used these days SEPA card? working properly?
Click to expand...
I tried yesterday and it seems the SEPA card has lower limits now. I was able to withdraw just 1200 EUR
 
anyone else had a problem with not receiving payments to cosmo? chaturbate support is saying my payment keeps getting rejected, 4th times already. I contacted cosmo support and they said there's no reason my payments should get rejected. should I just switch to paxum?
 
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