Thousands of businesses hit by Streamline glitch



Businesses across the country have been left out of pocket as a result of technical problems at the UK’s largest payment processing businesses, which is partly owned by Royal Bank of Scotland (LSE: RBS.L - news) .

Streamline, which handles half of all face-to-face card transactions in Britain, said it was investigating as a “high priority” problems with payments made between Friday and Sunday, after businesses reported missing payments.

In a statement on the company’s helpline, Streamline said it was aware of the issue and was trying to work out what had gone wrong.

A spokesman for Streamline said: "We are aware of a technical issue which has meant that some customers have not received settlement for transactions processed between 26-28 July as expected. We are looking into the issue as a matter of urgency and will be communicating with customers as soon as we have more information. We apologise for any inconvenience caused."

Customers at HSBC (LSE: HSBA.L - news) are among those known to be hit by the technical problems, though other lenders are also likely to have been effected. A spokesman for Barclays (LSE: BARC.L - news) said the bank was "not aware" of any issues with payments to its customers.

As well as chip and pin payments, the company also handles online transaction and telephone payments for businesses across the UK.

Streamline is owned by WorldPay, one of the world’s largest payment processing companies. Formerly known as RBS WorldPay, the business was sold in 2010 as the taxpayer-backed lender was forced to offload several operations to help rebuild its finances in the wake of its £45.5bn state bailout.

WorldPay is now owned by private equity firms Advent International and Bain Capital (OTC BB: CGHC - news) , though RBS retains a 20pc stake.

Technical problems have caused major embarrassment for RBS and last year the bank suffered a breakdown in its systems that lasted several weeks.

HSBC and RBS were not immediately available to comment.