Y2K damage reports Message Board

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Technology Stocks : Y2K damage reports

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To: Dug who wrote (264)	1/7/2000 3:29:00 AM
From: Snowshoe	Read Replies (1) of 286

Y2K Glitch Causes Double Recording On Some Credit-Card Purchases Dug, here's an example of a problem caused by failure to upgrade to new Y2K-compatible software... interactive.wsj.com January 7, 2000 Y2K Glitch Causes Double Recording On Some Credit-Card Purchases By a WALL STREET JOURNAL Staff Reporter RESTON, Va. -- A year-2000-related glitch is causing some credit- and debit-card purchases to be recorded twice. But credit-card systems say they are catching the duplicates and consumers shouldn't worry about excessive billings. The problem is in credit-card verification software made by CyberCash Inc. A CyberCash spokeswoman said about 50 merchants notified CyberCash this week that they hadn't updated software to fix a Y2K bug. The spokeswoman said CyberCash had been urging merchants since the spring to update their software. CyberCash says it is the largest maker of verification software, used by roughly 100,000 merchants. The spokeswoman said CyberCash didn't know how many other merchants may have the faulty software. The problem surfaced late Wednesday when credit-card processors noticed an increase in duplicate transactions. Spokeswomen for Visa USA Inc. and MasterCard International Inc. both described the increase as "minor," but declined to provide specific numbers. The Visa spokeswoman says the system typically sees 2,000 to 3,000 duplicates out of 100 million transactions a day. Visa officials think they have detected all of the duplicates related to the Y2K bug, and consumers shouldn't worry about being billed twice for the same item. "The cardholder impact will be minimal if at all," the spokeswoman said.

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