Visa admits 5m payments failed over a broken switch

IT meltdown affected millions across Europe, but Treasury committee is ‘satisfied’ with company’s responseVisa has admitted that 5.2m transactions failed during its IT collapse earlier this in June – because a back-up data centre designed to handle all transactions across Europe would not switch on when the problems emerged.The extraordinary service failure on the afternoon of Friday 1 June saw queues build up at petrol stations and shopping left at supermarket tills as c