Central Banking

UK lawmakers ‘satisfied’ with Visa response to outage

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Members of the UK’s Treasury Committee say they are “satisfied” with Visa’s response to a “service disruption” earlier in June that saw millions of payments fail across Europe.

The committee published a letter from Visa today (June 19) that reveals further details of the outage. Visa says around 51.2 million transactions occurred during the disruption on June 1, of which 5.2 million failed to process properly.

The incident raises questions about the reliability of electronic payments

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