Whitewater Shopping Centre is currently unable to sell or accept gift cards
Thousands of consumers with gift cards issued by shopping centres around the country fear they will lose out after the payments firm that manages the funds for the gift cards was shut down by regulators.
Liffey Valley Shopping Centre in Dublin and Cork’s Mahon Point have both told people that they are currently unable to accept gift cards issued for the shopping centres by the shopping centres.
Also impacted are gift cards issued by the White Water Shopping Centre in Kildare, the Square in Tallaght, along with a number of other shopping centres.
It comes after regulators in Lithuania revoked the license of UAB PayrNet citing “gross, systematic and multiple violations” of money laundering laws, and fears over terrorist financing law violations.
And a number of credit unions that used UAB PayrNet as the issuer of their debit cards have had to make alternative arrangements.
It is understood that 18 credit unions offered debit cards issued by the Lithuania company’s Railsbank Technology subsidiary.
Whitewater Shopping Centre said in a statement: "Due to circumstances beyond our control, we are currently unable to sell or accept gift cards at Whitewater Shopping Centre.
"This situation arises from UAB PayrNet, the payments firm responsible for managing the funds of gift cards, having their licence revoked.
"We understand that this may be concerning and inconvenient and want to assure you that this issue is not confined to our shopping centre, but it is affecting other centres and service providers across Ireland and Europe that also use the services of UAB PayrNet.
"At this stage, the full implications and the timeline for a resolution are not completely clear. However, we are working closely with the gift card provider and exploring every possible avenue to rectify the situation as swiftly as possible.
"In the interim, we sincerely apologise for any inconvenience this may cause and appreciate your understanding. We will continue to keep our site management team informed and provide further updates as more information becomes available,"it added.
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