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It isn't down. I work for a large e-commerce company and we're seeing ~10% decline rates, at most, on VISA cards only, and that's intermittent. Overall average
by kalleth 8y ago
It isn't down.
I work for a large e-commerce company and we're seeing ~10% decline rates, at most, on VISA cards only, and that's intermittent. Overall average decline rate is more like 1-3% when you factor in the intermittentness of it.
Still not great, but not PAYMENT CHAOS and not a CRASH OF THE VISA NETWORK.
- mey 8y agoDo the bin's point to a specific bank group?
- kalleth 8y agoNo
- Artemis2 8y agoSame here — I work for an online payments company. We’ve been seeing a dip of 2–7 points for the past few hours across our network.
- sitepodmatt 8y agoI hope it's not the real poor one where status page updates takes an hour plus. .begins with S
- dreamfactored 8y agoContactless went down completely
- kalleth 8y agoTo be fair I can't comment on POS/in-person transaction rates. All I have visibility into is online purchases with VISA cards on our site.
- falcon620 8y agoWhen you say you're seeing 10% decline rates, is that out of your total transactional volume (which I suspect is the case), or just out of the subset of your customer who actually have bona fide Visa credit cards?
- kalleth 8y agoI'm British, and we have both Visa Debit and Visa Credit in the UK. I haven't yet looked into whether it's Visa Debit or Visa Credit or both which is experiencing issues.
- falcon620 8y agoOkay, so to clarify: are you're seeing 10% failure rates on Visa Debit+Credit, or 10% on everything (including Mastercard, Amex, etc)?
- kalleth 8y agoNo failures on Mastercard or Amex. Occasionally a spike up to 10% failure rate of all our card transactions (sorry, misunderstood your Q). ~80% of our transactions are VISA of some sort.
- falcon620 8y agoSo it's actually quite hard to use your data as a proxy of understanding how badly Visa Europe credit cards are doing.
- kalleth 8y agoHave just checked; we're seeing both Visa and Visa Debit having problems.
- gargravarr 8y agoYou forget, everything is chaos in the media. Trains, travel, finance, whatever you like. Chaos sells :)
- frockington 8y agodon't forget tweets, the most dangerous enemy mankind has faced
- gargravarr 8y agoNah, tweets are just the Two Minutes' Hate - intense rage, pure undistilled fury... then quiet until the next one.
- dang 8y agoOk, we'll ramp 'payment chaos' down to 'increased decline rates'.
- ben509 8y agoI think you and the media are both wrong. You're wrong because the distribution of outage is rarely uniform. If 9 of 10 attempts worked, customers would try their cards again and there'd be no story. What we see here is that some customers are seeing a total outage, while others are entirely unaffected. And the press is more wrong, because by ignoring the 90% who are unaffected, they exaggerate the problem by an order of magnitude.