Visa Network Crashes as Bitcoin Boasts 99.99% Uptime Since Genesis Block

Visa’s payment system crashed yesterday, preventing credit card usage and payment processing across the entire EU, Ireland, and even in the US. Despite the issue being reportedly resolved, the incident serves to highlight the need for decentralized, stable alternatives where possibilities of the kind are simply non-existent.

In an official statement on Twitter, Visa announced that their payment processing service is experiencing a “service disruption”:

Reportedly, Visa users were experiencing serious issues with their card payments. They were receiving messages stating that there was a “disruption of service,” preventing providers receiving or sending money.

Major Red Flag

Credit card payments weren’t the only service impacted by the Visa outage. The issue also prevented many European customers from transacting with cash deposited in their bank accounts. The Irish Times reported that Irish tourists as far away as the US were unable to access their money.

Personal hassles aside, the outage could have triggered major issues for banking institutions as well. Reports began emerging of people lining up in front of ATMs to withdraw as much cash as possible for fear of a prolonged outage.

Banks like HSBC started tweeting about the problem almost immediately:

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