Visa, Worldpay Reverse Transaction & Take Blame from Coinbase

Visa and Worldpay (payment processing company) issued a joint statement on the Coinbase blog on Feb 17, taking responsibility for charging coinbase users multiple times for the same transaction.

Previously Visa denied all the blames and blamed back to Coinbase, telling the Financial Times on Feb 16 that it had “not made any system changes that would result in the duplicate transactions cardholders are reporting.”

However, the latest statement from Visa and Worldpay on the Coinbase blog clarifies:

“Over the last two days, some customers who used a credit or debit card at Coinbase may have seen duplicate transactions posted to their cardholder accounts. This issue was not caused by Coinbase.

Visa and Worldpay wrote that all the reversal transactions will be reflected in the customers’ account balances within a few days. Their statement says:

“If you continue to have problems with your credit or debit card account after this reversal period, including issues relating to card fees or charges, we encourage you to contact your card issuing bank. We deeply regret any inconvenience this may have caused customers.”

Brian Armstrong, CEO and co-founder of Coinbase, tweeted that he was “glad to see the record set straight on this”, attaching Visa and Worldpay’s joint statement: