Description: A service outage by online payment processor Moneris on Saturday caused all sorts of problems for retailers and their customers. Darren Leroux of Moneris said that the system outage was approximately 90 minutes, impacting both debit and credit payments. Moneris indicated that this outage did not appear to be related to any sort of cyber attack.
Date: September 23, 2023
1) Was anyone you know impacted by the Moneris outage?
2) If you a manager of a store experiencing an outage like this, what strategy would you employ to deal with this problem?
3) Page 7-14 of Wiley’s Financial Accounting: Tools for Business Decision-Making includes an Accounting Matters inset box “How Do Businesses Make Payments?” What is the most common way for consumers to make payments according to this box?