Retail in Asia

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Online retailers blame lost sales on NAB payment system problems

An online storm is gathering around National Australia Bank, with businesses blaming thousands of dollars in lost sales on instability plaguing its secure credit card payment system.

NAB on Tuesday issued a statement to its NAB Transact customers noting there had been "ongoing" issues with the system over the month of May, including "log-in issues, time-outs and/or slow performance". Merchants reported a system outage had occurred around lunchtime on Tuesday.

Simon Pallister, managing director at online lingerie retailer Zodee.com, complained the bank had not given any indication of when the problem would be solved and suggested he might take his business to Commonwealth Bank of Australia.