“We continue to closely monitor developments and evaluate new information as it becomes available,” a Visa spokesman said in an email statement. “Our priority is and will always be to maintain the integrity of the Visa payment system and protect the interests of consumers, merchants and our customers.”
Likewise, Mastercard said in a statement that it follows the news from Wirecard. “Our priority is to ensure that people can continue to use their cards. We will continue to work with all parties and we are ready to take all necessary measures,” Mastercard said.
Founded in 1999, Wirecard was once considered one of the most promising technology companies in Europe. It processes payments for consumers and companies and sells data analysis services. The company has nearly 6,000 employees in 26 countries.
The company is now in crisis, one could worsen if large payment networks cut off its access.
-CNN’s Charles Riley contributed to this report.