Wednesday, August 22Your Daily Bitcoin & Altcoin News Portal

E-COMMERCE

Credit And Bank Cards Stop Working, Sending Masses Into Frenzy

Credit And Bank Cards Stop Working, Sending Masses Into Frenzy

BITCOIN, CURRENT EVENTS, E-COMMERCE, THE DOLLAR VIGILANTE
 The digital cashless empire took a huge credibility blow Friday as Visa card holders all over Europe were unable to make transactions. Caused by an apparent ‘hardware failure,’ the widespread network outage affected large portions of the continent---a region that’s already made dangerous moves toward a cashless society. In the UK, for example, 77% of all retail purchases in October were made with plastic, and Visa manages 95% of all debit cards in the country. Needless to say, within a few hours, local economies quickly felt the pressure and panic. Ramzi Kozhani, manager of Cafe Brood in London, says he lost £3,000 and was forced to throw out excess stores of unused food. The centralized nature of these financial behemoths quickly caused several large banks