Browse Topics
Tools
Internaxx Stock Market
Index Last Var.(%)
BEL 20 2119.3 0.50
DAX 5252.45 1.50
IBEX 30 10726.8 0.59
CAC 40 3377.59 1.40
FTSE 100 4564.5 0.79
AEX 276.85 0.95
DJIA 9096.72 -0.13
Nasdaq 1975.51 0.39
FTSE MIB 20341.67 1.65
TSX Composite 10570.54 -1.74
ASX 4148.9 -0.60
Hang seng 20135.5 -2.37
Straits Times 0.00
ISEQ 20 442.48 0.27
You are here: Home News Belgian News Banksys solves cash card mystery

09/12/2004Banksys solves cash card mystery

9 December 2004

BRUSSELS - Last weekend's catastrophic failure of bank card readers and cashpoints across Belgium was caused by a chain of small technical errors and not a computer virus, it has been discovered.

The verdict, by bank card company Banksys, has put paid to fears of more breakdowns wreaking havoc for Christmas shoppers.

Representatives of large distribution companies (Fedis) and small businesses (UCM and Unizo) were summoned by Banksys on Thursday to be given a full explanation.

They were reassured that the drastic slowing down of transactions last weekend was due to an unfortunate sequence of minor hiccups in the internal Banksys system.

This was aggravated by the large number of bank card payments made by shoppers.

Banksys has been able to resolve the problem so that it does not re-occur, and a plan to compensate companies for the loss of business is on the table.

A total of 220 000 transactions by bank cards and 60 000 by credit cards failed to process.

The estimated loss of turnover rests at nearly 10-20 percent of the volume of sales last Saturday, or around EUR 20 million.

Compensation will be different depending on the size of the business.

Banksys has already decided to make a gesture towards the retail sector by announcing that all transactions will be free on 18 December.

But it is still denying overall responsibility for the blunder.

[Copyright Expatica 2004]

Subject: Belgian news

 

0 reactions to this article

Discussion Forums

Housing

Typical rent in Leuven center, by LuisF

Gay & Lesbian

Looking for other Lesbian or Bisexual Expats, by chalks

Learning the Language

Someone to practice French?, by deashelle

Discuss Belgian Culture

Food in belgium, by joanne2009

Hobbies

Expat Grocery Store, by Demona

participate in the forums

Inside Expatica
Looking for work in Belgium

Looking for work in Belgium

This handy guide from Expertise in Labour Mobility includes how to write a CV, application procedure, interview dos and don'ts, Belgian management culture.

Practical, easy-to-use, free and... in English

Practical, easy-to-use, free and... in English

Belgium’s first alternative directory assistance services - available through the shortcode 14-14 - can now be accessed on the internet.

Finding a rental home in Belgium

Finding a rental home in Belgium

Moving to Belgium presents a host of challenges to expats, not least of all finding the right home.

Learning to cope with life abroad

Learning to cope with life abroad

The psychological effects of global mobility can be physically painful.