RGDATA raises payment services outages with Central Bank

RGDATA has again called on government to tackle bogus insurance claims, which are harming small businesses
“Taxes on windfall profits should also be considered for the insurance companies that are not lowering premiums,” said RGDATA director general Tara Buckley

Retailers need to be able to have confidence that appropriate contingency and redundancy arrangements are in place to prevent service outages, says association

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5 April 2022 | 0

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RGDATA has called on the Central Bank to urgently review the back-up services provided by payment service providers in the case of outages saying there is a significant business impact on supermarkets and convenience stores when cashless systems crash.

“Recently we have seen a significant outage from a card payments company (Opayo) which caused significant disruption among retailers,” RGDATA director general Tara Buckley wrote in a letter addressed to the Central Bank.

“In this day and age it seems extraordinary that any payment services provider can lack the relevant contingency supports to ensure that there is continuity of service when technical issues arise,” Buckley said.

RGDATA requested details of the measures that the Central Bank is taking to ensure that payment services providers have appropriate contingency arrangements in place and sufficient backups to prevent outages.

“It is important that retailers have confidence that there is a robust regulatory oversight of the operations of payment services providers and that appropriate contingency and redundancy arrangements are in place to prevent service outages,” Buckley said.

ShelfLife has also previously reported on the CSNA’s response to the payments outage, as shown here.

 

 

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