Then there are the victims who fail to realize they’ve been overcharged because their blind reliance on convenient payment technologies has left them psychologically unaccustomed to keeping track of their spending. But even if each duplicate charge is indeed refunded, there will still be a loss incurred by the merchants that have to waive each transaction fee due to the bug. She and her mother were left thousands of pounds overdrawn over the weekend until Mercedes reimbursed them.Ĭardnet claims that all affected customers were refunded by Tuesday, September 4. ![]() “My initial reaction was horror and then when I found out there was nothing Mercedes could do until the Monday – I felt lost,” said Francesca Brady, who was charged twice for an £18,000 second-hand Mercedes. This resulted in chaos for both cardholders and merchants. Most of the cards affected were Visa Debit cards, and thousands of British card holders had been charged twice. That didn’t stop the shares of BA’s Anglo-Spanish multinational holding company, International Consolidated Airlines Group, S.A., from falling 5% between Thursday and Friday.Īnd on Wednesday, Lloyds Banking Group reported that about 5% of transactions on card machines run by Cardnet, a joint venture between Lloyds Bank and First Data, were duplicated on 29 August. BA launched a massive charm offensive assuring customers who lose out financially that they will be compensated. Some customers have complained of having to cancel cards as a result of the breach while others are considering changing their online passwords. “There were other methods, very sophisticated efforts, by criminals in obtaining our data,” BA’s chief executive, Álex Cruz, said. The compromised data included the personal and financial details of the passengers that booked during that period.īA says it was not a breach of the airline’s encryption. BA says the breach affected bookings made between 10.58 pm on August 21 and 9.45 pm on September 5. On Thursday, British Airways announced that up to 380,000 card payments on both its website and app had been compromised during a 15-day data breach. ![]() And now there’s British Airways and Lloyds Banking Group. Then there was the Visa outage in June, which caused chaos across much of Western Europe, but particularly in the UK where consumers are far more reliant on contactless Visa cards. The problems at the bank continue to fester even to this day, 22 weeks later. First there was TSB Bank’s botched IT migration in April, which resulted in millions of customers being blocked from their online accounts. This has not been a good year for IT systems in the UK. The payments industry deplores it, but cash is starting to look pretty good, and central banks agree: “We do not foresee a totally cashless society”: ECB By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET.
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