PolisPay Mastercard Refunds Orders Outside Mexico Due to Operational Hurdles
PolisPay Mastercard which has been touted by Polis as the gateway between fiat and crypto payments has met a possible brick wall in their operations. All the steam gathered by the project; from moving to public better testing and integrating other digital assets on its platform, appears to have come to an abrupt halt. In their Medium article they stated:
In the few past days, it has come to our knowledge through the means of our PolisPay Card Provider and our lawyers, that our provider was having a set of problems with Mastercard. As we have been told, Mastercard never gave them permission to sell cards outside of Mexico, a situation we were unaware of as we had been guaranteed our provider had the faculties and required licensing to do so.
Polis has announced that all orders and cards outside of Mexico will receive refunds in BTC.
The crypto community has not taken this news lightly, and Polis has taken some heavy beating. As at the time of reporting, Polis was down by approximately 37%. This is a possible sign of investors dumping their coins.
The team has however noted that other services such as PoliPay MultiWallet and PolisPay Shift will function normally, independent of the current setback. In the meantime, the team is searching for new card providers and exploring other options to serve users across the globe. Other aspects of Polis like PolisPay Shift, PolisPay User Experience, PolisNodes, Olympus and governance projects are still being developed.