Saturday, January 08, 2000
Y2K glitch lurks; check your credit-card bills
The Associated Press
NEW YORK — Buyers beware: Your credit card might get charged more than once because some merchants failed to update their computer software for the Year 2000.
Visa and MasterCard said Friday they have checks in place to catch duplicate charges, but they suggest customers review their credit-card statements. A vast majority of transactions are going through without problems, they added.
The problem, which affects all types of credit and debit cards, is caused by outdated IC Verify software from CyberCash, which makes electronic transaction-processing software. The company offered free fixes last year, but some mer chants didn't get them.
As a result, some customers are charged daily for the same purchase. For example, a customer's credit card gets charged $400 Monday for a new color TV purchased that day. The card is again charged $400 on Tuesday, another $400 on Wednesday, and so on, until the software is fixed.
Jack Gribben, a spokesman for President Clinton's Y2K advisory council, said problems appear to affect mostly smaller retail merchants, because major chains generally use their own software.
Linda Locke, a MasterCard spokeswoman, said that if customers notice any problems, they should contact the bank that issued the credit card.
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