As soon as once again fintech firms and challenger banks are hit with card payment problems” Banking Technology

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As soon as once again fintech firms and challenger banks are hit with card payment concerns

There have actually been another problematic 24 hours for fintech companies and opposition banks after being hit with a variety of card payments issues.Multiple companies, including mobile-only opposition bank Monzo, payments start-up Revolut, smartphone banking firm Loot, U Account, Osper(which offers bankingto kids)and payments start-up Curve reported issues.This is comprehended to be another issue with their Global Processing Solutions (GPS). Reported the other day( 4 October)at around 9.00 am Monzo, together with other firms, verified via Twitter. From there on, the firms kept consumers notified via Twitter updates.An hour later, Monzo reported that the issue had been dealt with.

This was short lived as users reporting additional payment problems in the early morning of today(5 October). After a couple of hours the concern had actually been dealt with.

Other companies likewise reacted on Twitter to verify the matter. Nothing was revealed by GPS nor its Twitter.For Monzo it’s another reason for its pursuit to the launch of its bank account later on this year. It will not utilize a 3rd party card processor and rather deals will be dealt with using its own technology.Calum Parry Follow Calum at @CalumBankTech Tags; FinTech, Loot, Monzo, Osper,, Revolut,U Account,

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