On August 29-30, 5% of transactions from Cardnet terminals resulted in consumers being charged twice while appearing only once on receipts. The glitch happened to a number of retailers, pubs and restaurants that are Cardnet terminal users.
Cardnet, a joint venture between Lloyds Bank and First Data, handles an average of 1.2 billion transactions annually and are specialized in facilitating card transactions for merchants “in person, online and over the phone”. As soon as the cause of the glitch was identified, Cardnet publicly apologized and refunded affected customers within a week.
With growing numbers of card and contactless payment users in the UK, such incidents call for greater investment in infrastructure by payments providers to meet growing demand. Visa’s glitch this summer that brought the British economy to its knees, is an example of an existing weak link which calls for attention if more drastic situations are to be avoided.