23 June 2017
download the report now

Worldpay's payments glitch rumbles on

20 July 2016  |  9446 views  |  0 Web site under construction

UK payment processing firm Worldpay is experiencing ongoing problems issuing payments despite promising to work with clients to resolve the software issue.

Worldpay, which processes more than 36m daily payments and counts British Airways and the National Lottery among its clients, has suffered a technical glitch for more than three weeks resulting in the blocking of several millions of payments. And the issue has still not been fully fixed.
 
The company has attempted to play down the problem, saying that only a small minority of customers, less than 1%, have been affected. "Worldpay is aware of an isolated issue impacting one of our gateways, resulting in a delay to settlement for a small number of our customers," said the company in a statement issued on its website earlier this month. "We are working to resolve this issue urgently and we have proactively communicated with all affected customers."
 
However the statement has failed to pacify an increasingly irate set of e-commerce users, particularly those that have suffered further problems. Customers of vintage fashion e-commerce site Etsy have now been hit with duplicate charges as a result of Worldpay's efforts to fix an earlier problem with payments.
 
Meanwhile online gambling site Stan James has been unable to issue winnings to customers, while the National Lottery has stated on Twitter that it is working closely with Worldpay to fix the problem after a customer complained about waiting more than eight days for a refund of more than £1,000.
 
The Financial Times has reported that the error was caused by an overload of error messages on one of Worldpay's servers caused by a recent software update. The server was consequently taken offline and the outstanding payments were reconciled manually until the server is back up and running.
 
The glitch will no doubt be an embarassment to the company given that it recently spent £400m on a new platform to handle more than 325 international payment methods.But the company, which was previously owned by Royal Bank of Scotland and then bought by US private equity groups and then floated in 2015 in one of the largest IPOs for a UK fintech,  has seen its share price remain largely unaffected by the issue.
 
According to online news site TechCrunch, Worldpay's share price has risen by 3% over the last five trading days. Meanwhile Etsy, one of the affected e-commerce sites, has seen its share price fall by almost 3.5% for the same period.
 

 

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

WorldPay moves into alternative finance market

WorldPay moves into alternative finance market

04 December 2015  |  7560 views  |  0 comments | 13 tweets | 15 linkedin
Alternative payment methods challenge plastic's supremacy

Alternative payment methods challenge plastic's supremacy

25 November 2015  |  8527 views  |  4 comments | 23 tweets | 25 linkedin
Worldpay tests pay with your finger technology

Worldpay tests pay with your finger technology

11 November 2015  |  12880 views  |  9 comments | 28 tweets | 36 linkedin
Barclays glitch leaves customers unable to use debit cards

Barclays glitch leaves customers unable to use debit cards

30 October 2015  |  8125 views  |  1 comments | 4 tweets | 2 linkedin
Worldpay seals biggest UK fintech IPO

Worldpay seals biggest UK fintech IPO

13 October 2015  |  13033 views  |  0 comments | 33 tweets | 25 linkedin
Worldpay trials facial recognition technology

Worldpay trials facial recognition technology

01 October 2015  |  11807 views  |  0 comments | 24 tweets | 39 linkedin
HSBC glitch leaves thousands of customers without salaries

HSBC glitch leaves thousands of customers without salaries

28 August 2015  |  9158 views  |  1 comments | 13 tweets | 7 linkedin
RBS suffers another IT meltdown as payments go astray

RBS suffers another IT meltdown as payments go astray

17 June 2015  |  9784 views  |  5 comments | 27 tweets | 15 linkedin
Tesco Bank fixes glitch that caused two-day outage

Tesco Bank fixes glitch that caused two-day outage

05 February 2015  |  7331 views  |  1 comments | 4 tweets | 6 linkedin
Contactless payments in UK head for mainstream - Worldpay

Contactless payments in UK head for mainstream - Worldpay

18 November 2014  |  14723 views  |  0 comments | 22 tweets | 17 linkedin
UK's high value payment system Chaps goes down

UK's high value payment system Chaps goes down

20 October 2014  |  10345 views  |  5 comments | 8 tweets | 20 linkedin
IT glitch hits payments processing at Yorkshire Bank

IT glitch hits payments processing at Yorkshire Bank

02 September 2014  |  5280 views  |  2 comments | 2 tweets | 2 linkedin
NatWest glitch denies savers interest

NatWest glitch denies savers interest

03 April 2014  |  4790 views  |  0 comments | 3 tweets | 1 linkedin
Ulster Bank customers hit by yet another IT breakdown

Ulster Bank customers hit by yet another IT breakdown

12 December 2013  |  4277 views  |  0 comments | 5 tweets | 5 linkedin
Russian hacker pleads guilty over $9m RBS WorldPay heist

Russian hacker pleads guilty over $9m RBS WorldPay heist

08 February 2011  |  11863 views  |  0 comments
Advent and Bain to invest £200 million in WorldPay

Advent and Bain to invest £200 million in WorldPay

01 December 2010  |  9126 views  |  0 comments
Alleged RBS WorldPay ATM heist ringleader extradited

Alleged RBS WorldPay ATM heist ringleader extradited

09 August 2010  |  10699 views  |  0 comments
RBS to sell 80% stake in WorldPay to Advent and Bain

RBS to sell 80% stake in WorldPay to Advent and Bain

06 August 2010  |  13658 views  |  0 comments
Russia arrests RBS WorldPay ATM heist suspect

Russia arrests RBS WorldPay ATM heist suspect

23 March 2010  |  9880 views  |  0 comments
RBS WorldPay ATM heist nets $9 million in 30 minutes

RBS WorldPay ATM heist nets $9 million in 30 minutes

04 February 2009  |  25547 views  |  4 comments
WorldPay hit by online attack

WorldPay hit by online attack

05 November 2003  |  4794 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.finastra.comvisit www.events.sap.comvisit vasco.com/news/PSD2-compliant-solutions

Top topics

Most viewed Most shared
Santander's Openbank relaunched as 100% digital bankSantander's Openbank relaunched as 100% di...
15971 views comments | 48 tweets | 61 linkedin
Worldpay pilots app-only mPOS for small retailersWorldpay pilots app-only mPOS for small re...
8520 views comments | 17 tweets | 27 linkedin
Live: EBAday 2017, day twoLive: EBAday 2017, day two
8245 views comments | 4 tweets | 5 linkedin
Live: EBAday 2017, day oneLive: EBAday 2017, day one
7609 views comments | 3 tweets | 4 linkedin
UK banks will need to change one million sort codes under ring-fencing rulesUK banks will need to change one million s...
7518 views comments | 8 tweets | 25 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job