Update 30 June Bangladesh time 6pm: Pioneer's prepaid MasterCard and account funds are now being accessed. However, Pioneer said that they will take the service of the new card issuer in the future.
Old post: Pioneer MasterCard, the popular medium for withdrawing money from online marketplaces and shopping online, has been temporarily shut down. All Pioneer prepaid MasterCard has become obsolete indefinitely. This means that if you have a Pioneer MasterCard, you can no longer use it. The MasterCard balance in your Pioneer account has also been temporarily frozen, meaning you will not be able to withdraw that amount for the time being.
Pioneer says it has temporarily frozen the account balances of MasterCard users and hopes to be able to withdraw the money again in the future. However, at this time, you will not be able to withdraw the MasterCard balance in your Pioneer account indefinitely.
However, if you have any funds in your Pioneer account in excess of the prepaid MasterCard capacity, you can withdraw that amount from the Pioneer account now - but not through a card but through a bank account linked to your Pioneer account.
What will happen to the balance in Pioneer? How to make money from Pioneer?
Simply put, if you have a dollar in your Pioneer MasterCard account, you can't withdraw that dollar at the moment. If you have a lot of dollars in your account which is actually more than the capacity of Pioneer MasterCard, then you can withdraw that extra amount.
By logging in to your Pioneer account you will know your card balance and account balance. If the account balance is more than the card balance then you can withdraw the extra amount through the bank. The maximum balance on a Pioneer card can be হাজার 10,000 or less (not sure). Ordinary users do not keep so much amount in Pioneer.
Why did Pioneer MasterCard close?
Pioneer is headquartered in the United States and the card issuing service is provided by Wirecard Card Solutions Limited, a UK company.
The original owner of the company, Wirecard Card Solutions Limited, is a German company called Wirecard AG.
Recently Wirecard AG got involved in a financial scandal. About কোটি 200 million disappeared from the company's account. Marcus Brown, CEO of Warcard AG, resigned, and was arrested in Germany. Within days, Wirecard AG began the process of declaring itself bankrupt.
The UK Financial Regulatory Authority (FCA) then suspended all card operations at Wirecard Solutions. Pioneer says that since Pioneer's prepaid MasterCard has been issued by this UK wirecard solutions, your Pioneer MasterCard will no longer work. You cannot make any transactions with it at this time. Also, you will not be able to use the money you brought to Pioneer with this MasterCard - until this legal issue is resolved.
Can money be received or received in Pioneer's account?
Yes. Now you can withdraw money in your Pioneer account. In order to withdraw that new balance, by adding your own bank account with Pioneer, you can withdraw new balance money from Pioneer in that bank.
Various online freelancing marketplaces such as Upwork, Fiber, Freelancer.com, 99 Designs, etc. offer Pioneer's prepaid MasterCard service to its members. Now after the wirecard incident, everyone has to think anew.
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