Over the past five years, a number of domestic virtual credit card (VCC) platforms for individual users have run the risk of not being able to recharge, losing customer service, and closing the platform due to unknown qualifications and lack of supervision. Users must choose regular institutions, recharge as they go, and manage their funds well to minimize the risk of loss.
I. List of major runaway platforms (2020-2025)
| Platform name | Time to run | main symptom (of a disease) | Typical cases and sources |
|---|---|---|---|
| Fomepay / Fomecard | August 2024 | The website can not be logged in, the authentication code is invalid, customer service is completely lost, the balance can not be withdrawn after the recharge | "fomepay and fomecard run away." |
| Infi | Late 2024-early 2025 | Back office shut down, balance not withdrawable | "Infi, Peachy Bear, Wild Card Continuous Thunder." |
| Peachy Bear | June 2025 | Balance delayed after payment, API interface closed, customer service lost contact | "Peachy Bear Virtual Card reloading not accounted for, suspected of running away" |
| WildCard (Wild Card/Yeka) | July 2025 | Website won't open, cards are blocked, can't bind to new platforms | "Wild Card has run away." |
| Digital Credit App | March 2022 | Accounts frozen after recharging, unable to activate credits | "Digital Credit App Scamming Activation Fees." |
II. Analysis of the main reasons for the platform to run away
- Illegal foreign exchange operations
Some platforms are suspected of illegally operating foreign exchange through underground money changers or capital pools that recharge users with RMB, corresponding to foreign currency credits that are not truly exchanged across borders. - Lack of qualification and compliance
Most VCC service providers have not obtained payment licenses domestically or overseas, do not follow AML procedures such as KYC/AML, and regulatory gaps lead to low running costs. - Anonymous high-risk model
Relying on cryptocurrencies such as USDT to top up, highly decentralized and difficult to regulate, easy to become a tool for running away. - Inadequate market regulation
At present, the regulation of cross-border virtual credit card business is not perfect, and it is difficult for regulators to intervene in a timely manner, so platforms can quickly become "invisible" after closure.
III. Suggestions for virtual credit card users to avoid the risk of running out of money
1. Selection of formal, licensed institutions
- Priority is given to service providers that are operated by regular domestic companies and have a "payment business license" or are registered with the People's Bank of China.
- Avoid anonymous platforms with "no KYC required" and "sign up and open a card", as these platforms have a high probability of running out of business.
2. Pay-as-you-go, on-demand recharging
- No large amount of money is deposited in a single platform, and only the amount needed for the current consumption is recharged each time to avoid a one-time loss.
- Withdraw the remaining balance to your Alipay or bank account in a timely manner after consumption to minimize the risk of funds being trapped due to platform closure.
3. Decentralization, multi-platform hedging
- Open cards on 2-3 stable platforms at the same time and spread your money and spending across multiple platforms.
- In the event of platform service anomaly, it can be quickly switched to the backup platform to ensure subscription and payment continuity.
4. Closely monitor platform developments and user feedback
- Join official communication groups, follow social media and third-party forums, and in the event of large-scale negative feedback, stop recharging and withdraw the remaining funds immediately.
- Regularly check the card availability status and debit records, contact the platform's customer service when abnormalities are found and keep the chat records and order vouchers.
5. Improvement of personal information security settings
- Enable SMS alerts and real-name authentication of the bundled cell phone/email for the virtual credit card to prevent the account from being maliciously closed or stolen by others.
- When using foreign platforms, prioritize filling in your real address and choosing common BIN numbers to reduce the risk of payment windfalls and verification failures.
Summary:
Domestic virtual credit card platforms have a high risk of running out of business due to insufficient regulation and qualifications. Users should prioritize the selection of compliant platforms, strictly control the balance of funds in individual platforms, diversify the use of funds and maintain a high degree of sensitivity to the movements of the platforms, in order to stop the loss in a timely manner and switch to a backup plan in the event of abnormalities in the platforms.
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