Sunday, December 8, 2019

Visa Denies Responsibility in Coinbase Incident; Changes Stance Later

BTCNN
BTCNN
BTCNN aim to be the key source for both digital currency experts and newbies. With the cryptocurrency industry growing so fast we want to educate our readers about all the latest developments as they happen.

In a somewhat odd turn of events, Visa, the credit card giant has stated that the issue that some users had with Coinbase, one of the largest wallet provider in the world, is not their direct responsibility, as the company stated via social networks just yesterday.
The declaration was made to a site called The Next Web by a spokesperson of the large credit card firm. “Visa has not made any systems changes that would result in the duplicate transactions cardholders are reporting. We are also not aware of any other merchants who are experiencing this issue”. Furthermore, he stated that they would contact CoinBase “to offer assistance and to ensure cardholders are protected from unauthorized transactions.”

But then, this morning Visa released yet another statement that changes the stance of the company on the subject:
“Over the last two days, some customers who used a credit or debit card at Coinbase may have seen duplicate transactions posted to their cardholder accounts.This issue was not caused by Coinbase. Worldpay and Coinbase have been working with Visa and Visa issuing banks to ensure that the duplicate transactions have been reversed and appropriate credits have been posted to cardholder accounts. All reversal transactions have now been issued and should appear on customers’ credit card and debit card accounts within the next few days. We believe the majority of these reversals have already posted to accounts. If you continue to have problems with your credit or debit card account after this reversal period, including issues relating to card fees or charges, we encourage you to contact your card issuing bank.We deeply regret any inconvenience this may have caused customers.”

It is another incident in the long chain of problems that this provider has faced in the last years. Aside from the finger pointing and blaming, it is important to determine who is really the culprit of the situation, to protect users from similar incidents in the future, and to assign responsibilities and enact actions.

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