The big Visa disruption highlights the risks of our electronic payment future

Visa released a statement which said: "We are now experiencing a service disruption which is preventing some Visa transactions in Europe from being processed".

Customers around Europe vented their frustrations on social media, with some unable to pay bills or order taxis overseas.

A Bank of England spokesman has said they are "aware of the issue" and that they are "engaging" with Visa in order to "resolve the situation".

A Visa spokesperson said: "Earlier today, Visa had a system failure that impacted customers across Europe". There is still some intermittency however, we believe this is due to a backlog of transactions.

Large queues have been sen forming outside Asda in Queensferry as people draw cash from ATM's.

Start the weekend with free doughnuts from these local shops
Friday in front of the Emmis corporate headquarters, says there is also a donut competition among local bakeries . Entenmann's: ABC7 reports the baked goods company is holding a contest to find its next " Chief Donut Officer ".

The company replied: "Hi Sandra, we are very sorry for the inconvenience but this is a nationwide issue and is out of our control". The network disruption, while just an annoyance for some, highlights the risks inherent in a global economy that increasingly relies on electronic payments for just about everything.

However, in the neighbouring store, transactions were being processed without any problems.

Business owners are angry that they are losing sales as a result.

"Not knowing when this is going to be sorted out is incredibly frustrating".

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