Mahon Point 'unable to sell or accept gift cards' due to issue with third-party service provider 

Mahon Point Shopping Centre has advised customers that its Mahon Point Gift Card cannot be honoured at present after the payment firm that manages the funds for the gift cards had their licence revoked.

In a statement, the centre said the issue is beyond its control and is also affecting other centres and service providers across Ireland and further afield.

“Due to circumstances beyond our control, we are currently unable to sell or accept gift cards at Mahon Point 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,” the shopping centre said in the statement.

“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,” the statement continued.

The statement comes after the Bank of Lithuania announced it has revoked the licence of the electronic money institution for “serious, systematic and multiple violations of legal acts”.

“This means that the institution can no longer provide financial services and has to return the funds to its clients within the set time limit,” the Bank of Lithuania said in a statement last week.

“The Bank of Lithuania will apply to the court for the initiation of bankruptcy proceedings against the institution and also intends to apply to law enforcement authorities,” it continued.

In addition, the Bank of Lithuania restricted the right of UAB PayrNet to dispose of the funds allocated to its activities with certain reservations.

“The Bank of Lithuania has found that the institution violated the Republic of Lithuania Law on Electronic Money and Electronic Money Institutions, the Law on the Prevention of Money Laundering and Terrorist Financing as well as the Law on Payments,” the statement said.

In the wake of the announcement from Mahon Point and other shopping centres, Fine Gael TD for Dublin Mid-West Emer Higgins called on affected Irish shopping centres to find a way to honour gift cards.

“Thousands of customers will be inconvenienced by this recent announcement that leaves them unable to spend their gift cards for various retailers around the country and I am calling on the retailers and shopping centres impacted to immediately find a way to honour existing gift cards,” she said.

“I have seen the various announcements that some shopping centres have made, and while I fully sympathise that this is a difficult situation for them and their staff, consumers need to be reassured that their gift cards will be honoured,” she continued.

Ms Higgins also called on the Competition and Consumer Protection Commission (CCPC) to engage with impacted retailers to bring about a resolution for customers.