Visa, Worldpay Take Blame For Duplicate Charges On Coinbase, Reverse Transactions

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Visa and Worldpay have issued a joint statement to address together the issue of customers having been charged multiple times for the same transaction on the Coinbase blog.

When the issue first came to light, Visa was quick to point the blame finger to Coinbase, insisting that they had “not made any system changes that would result in the duplicate transactions cardholders are reporting.”

According to Coinbase, the problems started from a change of the merchant category code (MCC) designated to crypto purchases. With this error, payments made by card would be processed instead as “cash advances.”

Coinbase explained that the charges became doubled when Visa and Worldpay tried to reverse and recharge the transactions during the code change.

Tides have changed, however, and now Visa, along with their payment processing company Worldpay are now taking ownership of the blame, effectively clearing Coinbase from any responsibility. “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.”

Furthermore, “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.”

Coinbase, of course, was relieved to finally be cleared of any wrongdoing on the matter, with CEO and co-founder Brian Armstrong tweeting that he was “glad to see the record set straight on this.”

 

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