Today, a global IT outage has caused significant disruptions in payment processing for numerous companies worldwide. While Mastercard and Visa have confirmed the functionality of their payment processing systems, many businesses continue to face challenges in accepting payments.
According to experts, the intricacies of digital payment processes involve a series of interconnected computers. If any one of these systems experiences an issue, it can prevent transactions from being completed successfully. For instance, when a customer makes a purchase using a card at a retail establishment, the transaction data passes through various points, including the card reader, the payment network (such as Mastercard or Visa), and the store's internal electronic sales system.
The complexity of these interconnected systems becomes more pronounced in larger businesses, where the chain of computers involved in processing payments is more extensive. The recent outage serves as a stark reminder of the modern digital economy's intricate and interdependent nature.
