European Apple Pay partner Boon is shutting down in October

Credit: Wirecard

Boon has been an Apple Pay partner since 2016, offering contactless payment options and virtual credit cards in a handful of European countries.

In a tweet, the banking company announced that they would be discontinuing service starting on Oct. 3, 2020.

The Boon announcement comes on the heels of its parent company, Wirecard, filing for insolvency after a series of financial scandals, Reuters reported.

Boon advises that users should spend all of their cash before the Oct. 3 date. Although users can request a withdrawal past the shutdown, Boon will charge a monthly fee for holding existing credit. It has also disabled its automatic top-up feature.