Consumers in the U.K. and other parts of Europe were unable to make card payments on Friday when Visa's network crashed.
Consumers were receiving rejection notices at point of sale terminals, according to The Independent and other local media outlets. ATMs were reportedly still working, though there were concerns about long lines at machines given Friday's evening rush.
Visa Inc. credit and debit cards are arranged for a photograph in Washington, D.C., U.S., on Wednesday, Jan. 29, 2014. Visa Inc. is expected to release earnings data on Jan. 30. Photographer: Andrew Harrer/Bloomberg
Andrew Harrer/Bloomberg
Visa told The Guardian it is investigating the outage, but as of early Friday afternoon New York time, the cause and scope were still unclear. Many banks, including Lloyds and RBS, issued apologies, though Barclays referred consumer complaints to Visa.
In Scotland, supermarkets were scurrying to open cash-only checkout lanes as Visa payments were working sporadically, according to The Guardian.
Visa confirmed the outage via social media, but did not provide further detail. Most other payment systems in Europe were functional, though there were reports of minor delays.
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.