Santander Bank unfortunately experienced a technical failure on Friday which prevented its debit card cardholders from using their cards with signature. They issued the following statement, posted to their web site, several hours after customers experienced card denials at the Point of Sale:
“We are aware of an issue with our Santander Debit Cards. Customers can still use their debit cards for purchases by entering their PIN. We apologize for the inconvenience and are working to resolve the issue as soon as possible.”
Technical issues happen and they happen to even those organizations with seemingly the most sophisticated solutions and back-ups in place. What issuers can do is have a pre-determined plan in place for communication. When customers sign up to receive email and SMS text notifications and have downloaded the financial institution’s mobile app, there’s an expectation that information will be expedient. In the wake of media attention to card breaches and identity theft, the need becomes more acute.
Overview by Sarah Grotta, Director, Debit Advisory Service at Mercator advisory Group
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