MADRID, Nov 24 (Reuters) - The Bank of Spain has asked for detailed information after recent disruptions to the country's payments network, a source close to the central bank said.
Customers complained on social media about failed ATM withdrawals and credit card payments on Nov. 18.
"A technical incident has occurred which has caused temporary instability in the system responsible for processing payment transactions.
The central bank is looking into both incidents, which come as European Central Bank (ECB) data shows cash payments in Spain fell by 18% between 2019 and 2022, a figure only surpassed in the euro zone by Cyprus, where transactions fell 23%.
Redsys competes with another payment provider in Spain, which belongs to Cecabank and holds a market share of about 15%.
Persons:
Redsys, Jesús Aguado, Emma Pinedo, Inti Landauro, Alexander Smith
Organizations:
Bank of Spain, BBVA, Central Bank, Redsys, Thomson
Locations:
MADRID, Santander, Spain, Cyprus