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Visa's payment system: massive outage in Europe, fragility of global payments brought to light





"VISA'S payment network suffered outages across Europe, limiting transactions for both businesses and individuals. Banks and commerce groups began advising customers to use cash or other payment cards if possible, and reports indicated that online and contactless transactions were having more success than chip cards.
(...)
There were no immediate signs that the outages were a result of a cyberattack or other foul play, but Visa was quiet for hours about the source of the failure—reinforcing how complex these massive payment systems are and how difficult it is to recover from problems once they cascade out of control."

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

The cashless society from an ethical point of view









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