Credit card issues were reported recently, which affected customers across America and Canada. Visa and Mastercard users as well as Chase users have encountered payment processing issues.
Retailers from coast to coast also reported major credit and debit card failures. A local grocery chain in the states of Maryland and Virginia experienced the same concerns as well as Lowes and Starbucks. The news received little to no media attention but more information comes from Twitter.
ShopRite, a grocery chain, confirmed the outage on Twitter posting that their credit card processor is experiencing a service issue and is working to address the outage. In the same Twitter post, ShopRite apologized to its consumers for the inconvenience.
With issues like this, consumers find it hard to purchase anything in most retail shops in New York, California, New Jersey, Pennsylvania, and other states. As a result, people had no choice but to queue up at ATMs.
As a business, make sure to partner with reliable high-risk merchant account processors that offer multiple payment options. This way, you always have an alternative for your consumers.
What You Can Do
Credit card payments are essential for all types and sizes of businesses, especially since people these days prefer to make their purchases online.
So when credit card processing outages occur, this can cause service disruption and revenue loss. Even a short outage can affect business operations and may take hours for them to be fully operational again.
In an increasingly digital world where most people prefer cashless transactions, credit card processing issues can be a huge problem for businesses and merchants. Most often, widespread outages can occur due to weather, technology failures, or internet connection disruptions.
Regardless of the reason, businesses must be fully aware that payment services issues are inevitable but can be addressed through a business continuity plan.
Every business should have a contingency plan in place to continue to have transaction capabilities for the benefit of both the business and its followers.
Look for other payment methods like online payment systems or e-wallets that consumers can still process cashless transactions to be more convenient for them. Keeping this option in mind will help your business make sales while at the same time boosting the overall customer experience.
Getting to the Bottom of the Issue
It is an issue with the internet service provider? If so, this can be easily remedied. If this has nothing to do with the internet connection, the next thing to do is check the physical terminals to ensure these are fully functional.
While accepting credit cards is worth it for your business, credit card processing problems can be stressful; however, working with experienced payment processors will help you get to the bottom of the issue and solve it.
Ultimately, your business can manage service interruptions if you choose a high-risk merchant account provider that has multiple payment options to give customers the flexibility to select the most convenient method for them, reliable technology, and superb customer support.