Etsy’s Payment Problems Are OpenBazaar’s Opportunity

Since July 1, Etsy Inc has had a major payment processing problem. But while the problem is still unresolved, the 24/7 Bitcoin payment network can certainly fill the void.

Also read: OpenBazaar is Here but Darknet Markets Will Remain 

Etsy’s 3rd Party Payments Processing Problem

Many of its orders made using credit cards and gift cards are stuck in processing. Etsy is using the London-based company, world payWorldpay Group Plc, to process orders but the company has a bug in their system, resulting in delays in payment confirmations. Paypal orders are unaffected, however.

User “WELOVELILLY” on Etsy’s Bugs forum wrote on Wednesday:

I have several orders pending from July 1st and 3 pending today. I am so surprised that it is taking 5 days or more to clear payments?

This is not an isolated incident. Etsy has had problems with Worldpay’s payment processing before. In February, a similar issue occurred causing merchants to lose sales around Valentine’s Day.

Affected merchants received an email on July 1 from the company stating:

Your shop may have been affected by a recent technical issue experienced by Etsy’s third-party payment processor that has resulted in delays confirming some of

Read more ... source: TheBitcoinNews