July 26, 2016
On Sunday, e-commerce processor and acquirer Worldpay, which had experienced issues with delayed settlements for several weeks on one of its gateways, announced transactions now are processing normally. For most of the month of July, some Worldpay merchants experienced delays in transactions being completed, deposits to their merchant accounts and refunds to customers. WorldPay has not disclosed the number of merchant accounts impacted, though the company said it was a small percentage of their worldwide merchant portfolio.
For Etsy, a U.S.-based online marketplace for handmade goods and unique items, the disruption has resulted in dissatisfaction from sellers unable to receive expected funds for purchases and customers owed refunds, according to published reports. Though transactions settled intermittently during the affected period, Etsy sellers and buyers experienced delays varying from hours to days.
“A dedicated team comprised of specialists drawn from across our organization and from external partners has worked around the clock to resolve the combination of factors which caused delays to settlement for our customers using this gateway,” said Shane Happach, Worldpay’s managing director for Global eCom, in a statement.
WorldPay acknowledged it may take time for the processor and its merchants to assess the overall impact of these issues, which could include lost sales, lost customers and chargebacks due to late authorization presentment or refunds not being received. Worldpay said it “is now working closely with affected customers to restore their usual technical configurations and ensure the timely payment of any settlement backlogs that remain outstanding.”