...
Good point, but why wouldn't Visa and Wavecrest just come to some agreement (asked rhetorically)? They've arguably both lost millions in revenue over some rule breach. Why wouldn't they just fix whatever it was? ...
From my point of view it looks like the breach of rules was solely on the end of WaveCrest.
VISA therefore terminated their business relationship with them. Why would they want to continue
to work with a company that has violated their contractual agreements?
I think the whole situation is somehow related to the recent tightening of the Anti money laundering
regulations of the EU (e.g. one of the changes was another decrease of the lifetime withdrawal
limits for unverified debit cards). The timing of the announcement of the new rules and the shutdown
of the debit cards that were issued by WaveCrest is too suspicious to be coincidental.