The boss of Visa’s European business Charlotte Hogg could be hauled before parliament after a bank card systems failure caused chaos.
Thousands of small businesses and millions of shoppers were affected as they were unable to process payments through Visa.
Families were forced to abandon trolleys full of food at supermarkets and others were left stranded after they were unable to pay for petrol.
Some couldn’t get cash out as an alternative as ATMs began to run out of notes.
Hurdle: Visa’s European business boss Charlotte Hogg could be hauled before parliament after a bank card systems failure caused chaos
Some customers complained on Twitter that they were still unable to make card payments over the weekend.
MPs are now calling for Visa to explain the fiasco and ensure it will not happen again. If MPs are not satisfied, it could spark an inquiry, putting pressure on chief executive Charlotte Hogg, 47, who was forced out of a senior role at the Bank of England just over a year ago.
SNP MP Stewart Hosie, of the Treasury Select Committee, said: ‘I would be very surprised if the committee did not seriously consider calling in Visa before them.’
Labour MP Wes Streeting, also a Treasury committee member, said they would want to understand ‘what went wrong and what steps Visa will reasonably take to make sure this doesn’t happen again’.
Lib Dem leader and former business secretary Sir Vince Cable, added: ‘I would want a proper independent assessment from the select committee to establish whether there is sufficient protection for the public and business in the event that this private monopoly network crashes.’
Hogg, who had been tipped as successor to Bank of England governor Mark Carney, joined Visa as head of its European operations in October.
She served as chief operating officer at the Bank between 2013 and 2017 before being promoted to deputy governor.
But Hogg was pushed out after she failed to declare during her four years that her brother worked for Barclays, which is regulated by the Bank of England.
A damning report by the Treasury committee following the incident accused Hogg of a ‘failure to appreciate the seriousness’.
An accomplished horse rider and married mother of two, Hogg comes from a family with its roots in the Conservative Party. Hogg’s grandfather was a Tory MP and her father Douglas Hogg, the third Viscount Hailsham, was a Cabinet minister under John Major.
He came under fire in 2009 after he was accused of claiming £2,200 in MPs expenses to have the moat cleaned at the family home, Kettlethorpe Hall in Lincolnshire. Her mother, Sarah Hogg, is an economist and baroness.
Hogg was educated at the prestigious £35,000-a-year St Mary’s School, Ascot, and graduated from Oxford University with a degree in economics and history.
Last month, Hogg insisted she had learned from the Bank of England scandal which had made her a ‘different kind of leader’.
MPs and industry trade bodies said Friday’s chaos heightened concerns over hundreds of bank branches earmarked for closure this year.
Mike Cherry, chairman of the Federation of Small Businesses said: ‘The Visa breakdown should serve as a wake-up call to halt plans which could see a wave of cashpoint closures starting next month. Access to cash remains a vital service – especially when card payments are unavailable.’
Streeting added: ‘It’s no good encouraging people to go cashless if payment systems aren’t reliable for customers … Providers of banking and payment systems need to make sure that their systems are both secure and reliable for customers at all times.’
Visa declined to comment.