Last week we reported that Etsy was experiencing problems sending out payments to merchants for goods sold. It looks like the worst is over and the source of the problems were difficulties at Worldpay, the service that powers Etsy’s payments to sellers.
Jim Esposito is Senior Director of Payment Operations at Etsy and he has shared an update from Etsy and also a statement from Worldpay regarding the problems. You can find the full text here.
Esposito says: “As many of you know, starting in the afternoon of July 1st, our payments processor Worldpay began experiencing an issue with one of its gateways, which authorizes and settles payment transactions. Since that time, this issue has been causing significant delays in the processing of payments for purchases made on Etsy.”
Obviously, it’s never good when things go wrong. But it’s also good when firms are open and honest about issues. The efforts that Etsy has made to keep merchants informed have been notably thorough. Other marketsplaces should take note.