Thursday
August 15
2019

Maxing Out Mexico: Credit Card System Comes to a Halt

By Brian Riley

Sometimes you want to be wrong with your forecasting.

Credit card acceptance came to a halt during the end of summer/back-to-school season in Mexico, as Reuters reports:

  • Several of Mexico’s largest banks reported on Saturday that they were experiencing problems processing debit and credit card payments while some shops in the capital informed customers that they would only accept cash payments.
  • Banorte, HSBC, and Santander all said on their Twitter accounts that the problem was with the company that was processing card payments and that they were working on finding a solution.
  • Reuters’ witnesses in Mexico City said they had their cards declined at different stores and saw others that had put up signs informing customers that their payment systems were down. Twitter users outside the capital reported the same problems.

Photo courtesy of Håkan Dahlström.

Source: PaymentsJournal (link opens in a new window)

Categories
Finance
Tags
banking, cashless, credit, financial services