(qlmbusinessnews.com Fri 22nd, 2024) London, UK —
Payments Watchdog Probes McDonald's and Greggs Over Tech Glitches
Retail giants McDonald's and Greggs are under scrutiny as the payments watchdog investigates a series of recent tech failures plaguing major outlets across the UK.
Following similar incidents at Tesco and Sainsbury's, Greggs encountered IT issues, marking the fourth prominent brand to face disruptions.
The Payments Systems Regulator (PSR) has launched an inquiry into the disturbances, stating, “The PSR is aware of the recent payment issues and is assessing their nature to determine whether any further action is needed.”
Tasked with ensuring the smooth operation of payment systems, the PSR plays a critical role in safeguarding transactions for consumers and businesses alike. Should it detect any flaws in payment infrastructure resilience, the matter can be escalated to the Bank of England for intervention.
The recent spate of technical glitches has spotlighted the vulnerability of payment systems, rendering customers unable to complete transactions seamlessly.
Sainsbury's suffered a setback with online grocery deliveries due to an overnight software update glitch that also impacted in-store contactless payments. Similarly, Tesco faced disruptions, resulting in the cancellation of a “small number” of orders.
McDonald's, in a global incident, encountered a widespread technology system outage, halting order processing across its restaurants.
Joining the fray, bakery chain Greggs encountered IT system failures in select stores, compounding the industry's woes.
The frequency and proximity of these outages have raised questions about potential connections, with experts suggesting common network or infrastructure providers as possible links.
Alan Stephenson-Brown, CEO of IT firm Evolve, underscored the financial toll on retailers, estimating losses in the millions. He emphasized the imperative of robust contingency planning in navigating digital disruptions.
Jamil Ahmed, an engineer at transaction firm Solace, highlighted the escalating risks posed by increasing reliance on digital transactions in the retail sector. As consumer expectations for flawless digital experiences rise, retailers face a pivotal moment in addressing technological vulnerabilities.
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