tarazini
.
- 03.06.13
- 565
9 October 2017
Dear WaveCrest Business Partner,
As you are aware, all of WaveCrest's Programs (as defined in the Agreement) are operated strictly in accordance with the Operating Permission granted to WaveCrest. However, as provided for in the Agreement (clause 2.12), the Operating Permission is subject to change from time to time.
As a result of one such change, WaveCrest will be varying the scope of its Programs so that WaveCrest Mastercard® prepaid cards will no longer be issued outside of the SEPA region, effective immediately. WaveCrest will automatically decline any card creation requests, whether sent through API or through Business Portal, for residents outside the SEPA region.
A full list of the countries in the SEPA region can be found here.
In light of the above, please respond by email to [email protected] by close of business CET on 13 October 2017 confirming to us that you understand you are required to take the following steps by the specified Deadline:
Required Actions
Deadline
Restrict cardholder enrolment to the countries in the SEPA region.
Effective immediately
If you are an API-integrated client hosting your own cardholder enrolment website and other enrolment channels, remove any countries other than those shown on the SEPA region country list, both on the registered address and delivery address fields from your cardholder enrolment forms, on all channels.
Effective immediately
Revise any marketing or promotional materials, including websites and other digital advertising and media, to remove any statements indicating that Mastercard cards issued by WaveCrest are available to account holders located outside the SEPA region.
20 October 2017
As part of this change, WaveCrest has been instructed to close Mastercard cards that were previously issued to cardholders outside of the SEPA region, on 31 December 2017. We are in active discussions with Mastercard regarding potential options for us to continue supporting certain types of card issuance outside of the SEPA region. No immediate action is required from you in relation to these previously issued cards. We will provide further notice to you of any required actions in the coming weeks as we continue our negotiations with Mastercard. However, If there are any existing cardholders that are registered with addresses outside the SEPA region, but are able to provide Proof of Address within the SEPA region, we recommend that these be submitted so that their address on file will be changed upon successful verification.
Please note that issuance of new Mastercard cards and support of existing Mastercard cards with addresses registered within the SEPA region will continue as usual. We also would like to emphasize that we are actively working with Mastercard and other third parties to continue offering our services outside of SEPA region. We are committed to keeping you informed as these plans progress.
In the event that you have any queries please direct them to your assigned WaveCrest Account Manager or to [email protected] .
Finally, please note that this communication is, in accordance with the terms of the Agreement, to be treated as being strictly confidential save for as provided for in the table above.
Sincerely,
WaveCrest Team
Please do not reply to this email. This is an unmonitored mailbox.
Wave Crest Holdings Limited is an electronic money institution licensed by the Financial Services Commission, Gibraltar.
Dear WaveCrest Business Partner,
As you are aware, all of WaveCrest's Programs (as defined in the Agreement) are operated strictly in accordance with the Operating Permission granted to WaveCrest. However, as provided for in the Agreement (clause 2.12), the Operating Permission is subject to change from time to time.
As a result of one such change, WaveCrest will be varying the scope of its Programs so that WaveCrest Mastercard® prepaid cards will no longer be issued outside of the SEPA region, effective immediately. WaveCrest will automatically decline any card creation requests, whether sent through API or through Business Portal, for residents outside the SEPA region.
A full list of the countries in the SEPA region can be found here.
In light of the above, please respond by email to [email protected] by close of business CET on 13 October 2017 confirming to us that you understand you are required to take the following steps by the specified Deadline:
Required Actions
Deadline
Restrict cardholder enrolment to the countries in the SEPA region.
Effective immediately
If you are an API-integrated client hosting your own cardholder enrolment website and other enrolment channels, remove any countries other than those shown on the SEPA region country list, both on the registered address and delivery address fields from your cardholder enrolment forms, on all channels.
Effective immediately
Revise any marketing or promotional materials, including websites and other digital advertising and media, to remove any statements indicating that Mastercard cards issued by WaveCrest are available to account holders located outside the SEPA region.
20 October 2017
As part of this change, WaveCrest has been instructed to close Mastercard cards that were previously issued to cardholders outside of the SEPA region, on 31 December 2017. We are in active discussions with Mastercard regarding potential options for us to continue supporting certain types of card issuance outside of the SEPA region. No immediate action is required from you in relation to these previously issued cards. We will provide further notice to you of any required actions in the coming weeks as we continue our negotiations with Mastercard. However, If there are any existing cardholders that are registered with addresses outside the SEPA region, but are able to provide Proof of Address within the SEPA region, we recommend that these be submitted so that their address on file will be changed upon successful verification.
Please note that issuance of new Mastercard cards and support of existing Mastercard cards with addresses registered within the SEPA region will continue as usual. We also would like to emphasize that we are actively working with Mastercard and other third parties to continue offering our services outside of SEPA region. We are committed to keeping you informed as these plans progress.
In the event that you have any queries please direct them to your assigned WaveCrest Account Manager or to [email protected] .
Finally, please note that this communication is, in accordance with the terms of the Agreement, to be treated as being strictly confidential save for as provided for in the table above.
Sincerely,
WaveCrest Team
Please do not reply to this email. This is an unmonitored mailbox.
Wave Crest Holdings Limited is an electronic money institution licensed by the Financial Services Commission, Gibraltar.
