The Verse Card program is managed and operated by a third-party partner, Alchemy Pay.
We have been informed that Paytend Europe UAB — the banking institution selected by Alchemy Pay to issue these cards — has had its Electronic Money Institution (EMI) license revoked by the Bank of Lithuania, effective 3 March 2026.
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What this means for you
Because the issuer chosen by Alchemy Pay is no longer authorized to provide payment services, your card is currently inactive. Please discontinue all top-up attempts and use of the card immediately.
Accountability and Funds
Alchemy Pay is the primary party responsible for the management of this card program and the relationship with the issuing bank.
Under European regulatory requirements, Paytend is legally obligated to safeguard customer funds in segregated accounts.
Refund procedure for Verse Card holders in the EU
The Verse Card was issued by Paytend Europe UAB, a licensed financial services company based in Lithuania. They hold your card balance and will process your refund directly.
To proceed, please email [email protected] with the subject line "Balance Refund - [Your Full Name]" and provide the following:
A SEPA IBAN account number and BIC code. The account must be SEPA-compliant, denominated in EUR, and held under the exact name you used to register for the Verse Card.
Proof of SEPA bank account ownership, such as a recent bank statement or account confirmation letter that clearly shows your full name and IBAN.
Please ensure that:
The account is active and able to receive incoming transfers
The proof of ownership document is clear and legible
In accordance with regulatory requirements, Paytend is only able to transfer funds to a SEPA account held under your own name. They are not permitted to process refunds to non-SEPA accounts or to accounts under a different name.
For any issues with the refund process, contact Paytend directly at the same address.
Refund procedure for Verse Card holders outside the EU
The Verse Card was issued by Paytend Europe UAB, a licensed financial services company based in Lithuania. They hold your card balance and are responsible for processing refunds.
Paytend can only refund balances to a SEPA-compliant EUR bank account held under the cardholder's exact name. Refunds cannot be sent to non-SEPA accounts or to an account in a different name.
Paytend has confirmed a path forward for non-EU cardholders. Paytend suggests two options for opening a SEPA-compliant EUR IBAN remotely:
Option 1: Wise
Wise is an international fintech provider that allows non-European users to open an account remotely and obtain a EUR IBAN. Paytend notes that Wise is one of the simpler and more accessible options for non-European users.
Sign up. Register with your email or phone number and choose a personal account.
Provide basic information. Enter your full name (must match both your passport and Verse Card registration exactly), country, and address.
Identity verification. Upload your passport and complete facial verification.
Activate your account. Add a small amount of money (usually a few euros) to activate the account.
Get your IBAN. After adding a EUR balance, your IBAN and account details will be generated.
Share your details with Paytend. See "Submitting your refund request to Paytend" below.
Paytend notes that no European residency or address is required and that account setup usually takes from a few minutes to one day. Paytend recommends testing with a small transaction first.
Option 2: Paysera
Paysera is a Lithuanian fintech provider that allows non-European users to open an account remotely and obtain a EUR IBAN.
Sign up. Download the Paysera app or visit the website, register with your phone number, and create a password.
Provide basic information. Enter your full name (must match both your passport and Verse Card registration exactly), country, and address.
Identity verification. Upload your passport and complete identity verification. In some cases, video verification may be required.
Wait for approval. Paysera will conduct KYC/AML compliance checks. This usually takes 1–3 business days and may require additional documents.
Get your IBAN. Once approved, you will receive a Lithuanian (LT) EUR IBAN for SEPA payments.
Share your details with Paytend. See "Submitting your refund request to Paytend" below.
Paytend notes that account opening is fully remote, usually free, and supports international transfers, and that cardholders may be asked to explain the source and purpose of funds.
Submitting your refund request to Paytend
Once your IBAN is active, email [email protected] with the subject line "Balance Refund - [Your Full Name]" and include:
Cardholder full name (matches your Verse Card account registration exactly)
Verse Card number or a transaction-related identifier
Current outstanding refund balance
Contact details (phone and email)
IBAN and BIC of your SEPA EUR account
Proof of account ownership — a recent bank statement or account confirmation letter clearly showing your full name and IBAN
Please ensure that:
The account is SEPA-compliant and denominated in EUR
The account holder name matches your Verse Card account registration exactly
The account is active and able to receive incoming transfers
The IBAN and BIC are accurate and complete
The proof of ownership document is clear and legible
Paytend asks that you send complete information up front to avoid delays. Paytend cannot process refunds to non-SEPA accounts or to accounts held under a name different from your Verse Card registration.
What happens next
Paytend's compliance team will review your request and submit it to the relevant regulators, who determine the disbursement schedule.
For questions about your refund, contact Paytend directly at [email protected].
We are still currently:
Holding Alchemy Pay accountable: Demanding a clear and immediate timeline for the return of all user balances.
Monitoring the Regulator: Closely following the Bank of Lithuania’s instructions for the recovery of funds.
Advocating for you: While Bitcoin.com does not hold or manage these funds, we are actively engaging with Alchemy Pay at the highest level to resolve this matter.