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donvoto

VISA/MASTER CARDS stopped issuing prepaid for rest of EU

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Dear all, 

I have been working on setting up an service for Instant exchange of crypto currency to Fiat cash +ATM Card ,my works have almost completed.Planned for a launch in 40days in asia and africa.

Sudden change in policy by visa and master card ,They have announced to there principal member of visa and master that cards can not be issued other than the country or/continent of membership

which is EU in most of the case of membership. 

Would like to have some light of knowledge sharing by the esteem forum members. 

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Information is from the principal member of visa, wavecrest  .

I just got this information 2 days back as its still not made public by the organisation. I am building an exchange platform for BTC and ETH so i was in touch with wavecrest as i am using there API for debit cards. I was informed by the team that visa have send them an notice to stop issuing all debit cards other than EU region and may be the ones issued will be cancelled. 

Wavecrest needs to now rework on the banking partners in other countries to use there BINs so that there business will not be affected. Since i was working on my  portal development they informed me  to keep this changes in mind and work around the API as cards can not be issued to non EU countries as of now.

I would like to know if any one  here have any idea on E Exchange licence company in Asia and if they give me any lead that would be great

. been developing the exchange platform and this debit card platform for almost 7 months now planning for a soft launch in a month .... 

Need to look for Investors for liquidity and bug fixing and so on ... 

But this information from wavecrest is adding more situations.

 

Thanks and Regards

Don

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where was the card issued ? if its EU and the company who issued is from EU then no problem.... I guess the KYC norms are getting little complected and the banks are afraid about their business model after the coin platform and the growth  

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